Jeanswear designer and manufacturer Jeantex Group, Inc has signed a Letter of Intent to acquire all the issued and outstanding stock of Sanatex Incorporated.

Based in California, Sanatex manufactures clothing and packaging materials, and is involved in dyeing, and finishing for the apparel and fashion industries. With manufacturing facilities located in the Private Free Zone in Kalubeia, Egypt, Sanatex also enjoys exemption from tariffs on finished goods shipped to the United States.

According to the Letter of Intent, Jeantex will purchase all of the issued and outstanding stock of Sanatex in exchange for newly-issued shares of Class A common stock of Jeantex. The number of shares will be equal to 51% of all the issued and outstanding shares of common stock of Jeantex immediately following the closing of the transaction and Sanatex will become a wholly-owned subsidiary of Jeantex Group.

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