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Mr. Yongxin Liu, Chairman and CEO commented, "We are pleased to close theacquisition and to begin executing on our five-year business plan, whichincludes opening 1,000 medical retail stores within China. We also plan toopen stores in the U.S. to promote traditional Chinese medicine." Mr. Liuadded, "We plan to expand aggressively as a public company. This growth willbe made possible by the continued cooperation of our partners, both in China,and the U.S."
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About the Exchange Agreement
In accordance with the Amended Exchange Agreement, Nutradyne issued21,000,000 shares of newly issued common stock and 5 million shares of SeriesA Preferred Stock to the Yongxin shareholders or their designees,representing, immediately following closing, 70% of the total issued andoutstanding shares of common stock.
In addition, in accordance with the Amended Share Exchange Agreement, theofficers and directors of the public company tendered their resignations andappointed Yongxin designees in their stead.
About NutraDyne Group, Inc.
NutraDyne Group, Inc. was originally formed in Changchun, a capital cityof Jilin province in mainland China. The company sells a variety of products,both wholesale, and through its retail medical store chain. NutraDyne has afourteen year operating history that started as a combination of apharmaceutical wholesale supplier, retail pharmacy chain and third partymedical supplier. Today, the company has eleven stores in Northeast China, andtwo pharmacies (under construction) in the United States. The company's U.S.headquarter is in City of Industry, California. The company maintains 3regional business offices and a headquarters in China.
Forward-Looking Statements:
This press release contains information that constitutes forward-lookingstatements made pursuant to the safe harbor provisions of the PrivateSecurities Litigation Reform Act of 1995. Any such forward-looking statementsinvolve risks and uncertainties that could cause actual results to differmaterially from any future results described within the forward-lookingstatements. Risk factors that could contribute to such differences includethose matters more fully disclosed in the Company's reports filed with theSecurities and Exchange Commission. The forward-looking information providedherein represents the Company's estimates as of the date of the press release,and subsequent events and developments may cause the Company's estimates tochange. The Company specifically disclaims any obligation to update theforward-looking information in the future. Therefore, this forward-lookinginformation should not be relied upon as representing the Company's estimatesof its future financial performance as of any date subsequent to the date ofthis press release.The subsidiary Corporations owned by NutralDyne include: Changchun Yongxin Dirui Medical Co., Ltd. JilingYongxin Pharmacy Chains Tianjin Yongxin Pharmacy Chains Jilin Dingjian Natural & health products Co., Ltd.
SOURCE NutraDyne Group, Inc.
