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The merger was completed pursuant to an Agreement and Plan of Merger datedMay 21, 2008, by and among ChromaDex, Cody and CDI. As a result of themerger, ChromaDex became a wholly owned subsidiary of Cody, each outstandingshare of ChromaDex common stock automatically converted into the right toreceive one share of common stock of Cody and ChromaDex shareholders own orhave the right to own, in the aggregate, approximately 23,522,122 shares, or84% of the outstanding common stock of Cody. Also in connection with theMerger, Cody changed its state of incorporation from Nevada to Delaware andchanged its name to ChromaDex Corporation.
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"We are pleased to have completed this reverse merger as a means ofachieving public ownership for ChromaDex," said Frank Jaksch, CEO andco-founder of ChromaDex. "This merger into the public arena affords ChromaDexbenefits of public ownership, including the ability to enhance our visibilitywith customers and prospective customers, additional liquidity for existingand future equity investors, and access to potential additional avenues forcapital formation to help us grow and expand to meet the needs of the sizablenatural product chemistry, dietary supplement, functional food, cosmetic andpharmaceutical marketplaces with our unique skill set and value proposition.We believe this merger provides ChromaDex with a foundation for newopportunities to better meet the needs of the customer as well as the benefitsof an ongoing public market valuation."
About ChromaDex
ChromaDex is a world leader in the development of Phytochemical andBotanical Reference Standards and the creation of associated intellectualproperty. ChromaDex is committed to sustainable, "Green chemistry" andprovides the dietary supplement, food, beverage, nutraceutical and cosmeticindustries with the analytical tools, products, and services to meet theregulatory, quality, efficacy and safety standards for their products.
Forward-Looking Statements
Any statements that are not historical facts contained in this release areforward-looking statements. Actual results may differ materially from thoseprojected or implied in any forward-looking statements. Such statementsinvolve risks and uncertainties, including but not limited to those relatingto product and customer demand, market acceptance of our products, the effectof economic conditions both nationally and internationally, ability to protectour intellectual property rights, impact of any litigation or infringementactions brought against us, competition from other providers and products,risks in product development, our ability to raise capital to fund continuingoperations, the ability to complete transactions, and other factors discussedfrom time to time in the Company's Securities and Exchange Commission filings.The Company undertakes no obligation to update or revise any forward-lookingstatement for events or circumstances after the date on which such statementis made except as required by law.
SOURCE ChromaDex
