CHINA YCT INTERNATIONAL GROUP, INC. (OTCMKTS:CYIG) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
(the “Company”) entered into an Acer Truncatum Industrial
Project Acquisition Agreement (the “Agreement”) with Shandong
Yongchuntang Group Co., Ltd (“Shandong Yongchuntang”). to the
Agreement, the Company agreed to transfer three percent of the
issued and outstanding shares which the Company owned in Shandong
Spring Pharmaceutical Co., Ltd. (“Shandong Spring”), leaving
the Company with 97% of the capital stock of Shandong Spring. In
exchange for the shares of Shandong Spring, the Company received
the Acer Truncatum Industrial Project (the “Project”), which
was owned by Shandong Yongchuntang. The Project includes research
equipment, a patent dealing with the refinery process of the Acer
Truncatum’s seed oils, a trademark with the name of “Bao Feng
San Yi”, and relevant certifications issued to Shandong
Yongchuntang. In addition, the Company agreed to add a person
designated by Shandong Yongchuntang to its Board of Directors.
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No.
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Description
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10.1
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Acer Truncatum Industrial Project Acquisition Agreement
with Shandong Yongchuntang Group Co., Ltd dated as of March 18, 2017 |
About CHINA YCT INTERNATIONAL GROUP, INC. (OTCMKTS:CYIG)
China YCT International Group, Inc. operates through two of its subsidiaries, Landway Nano Bio-Tech Group, Inc. (Landway Nano) and Shandong Spring Pharmaceutical Co., Ltd. (Shandong Spring Pharmaceutical). The Company, through its subsidiary, Shandong Spring Pharmaceutical, engages in the business of research, developing, manufacturing and selling of traditional Chinese medicine and other healthcare products in China. Shandong Spring Pharmaceutical is engaged in developing, manufacturing and selling its own medicine made from ginseng extract, development of the acer truncatum bunge planting bases, and distributing healthcare supplement products manufactured by another company. Its product, Huoliyuan Capsule, is a herbal medicine made in the form of a capsule. Its Ginkgo Herbal Tea is health food approved by Ministry of Health. Its cosmetic flavonoid aglycone product, YCT Ginkgo Freckle Cream, has received Cosmetic Product Certificate issued by the Ministry of Health of China. CHINA YCT INTERNATIONAL GROUP, INC. (OTCMKTS:CYIG) Recent Trading Information
CHINA YCT INTERNATIONAL GROUP, INC. (OTCMKTS:CYIG) closed its last trading session 00.000 at 0.460 with 109 shares trading hands.
