$SITS disclosed that the transaction closed on February 15, 2022 and resulted in an exchange of all of the issued and outstanding shares capital stock of closely held Shibue Couture, Inc. for shares of a series of convertible preferred stock of Southern ITS International, Inc., valued at $2,500,000. No further terms of the transaction were disclosed. Going forward, Shibue Couture, Inc. will operate as a wholly owned subsidiary of Southern ITS International, Inc.

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