HBMKHubei Binkang Pharmaceutical (Las Vegas, NV)
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Under the terms of the agreement, the company will acquire all of the issued and outstanding shares of capital stock of HBMK from the vendors in exchange for the issuance of 33,500,000 shares of its common stock on a pro rata basis in accordance with each vendor's percentage ownership in HBMK.
Upon closing of the agreement, HBMK will become a wholly owned subsidiary of Hubei Minkang.
The closing of the agreement is subject to the satisfaction of conditions precedent to closing as set forth in the agreement, including that no material adverse effect will have occurred with the business or assets of HBMK Pharmaceutical Limited since the effective date of the agreement and that the company, HBMK Pharmaceutical Limited and the vendors will have received all third-party consents and approvals contemplated by the agreement.