Hubei Minkang Pharmaceutical Ltd. ("Hubei Minkang", or the
"Company") (OTCBB: HBMK) is pleased to announce that on September
21, 2011, the Company completed the share exchange agreement (the
"Share Exchange Agreement"), dated July 8, 2011, entered into
between the Company, HBMK Pharmaceutical Limited ("HBMK"), a BVI
corporation, and all the shareholders of HBMK (the "Vendors"),
whereby the Company acquired 100% of the issued and outstanding
shares in the capital of HBMK from the Vendors in exchange for the
issuance of 33,500,000 shares of our common stock to the Vendors on
a pro rata basis in accordance with each Vendor's percentage
ownership in HBMK. As a result of the completion of the Share
Exchange Agreement, HBMK became a wholly-owned subsidiary of the
Company.
HBMK is the sole shareholder of Hubei Minkang Pharmaceutical
Co., Ltd., a company organized under the laws of the People's
Republic of China, which is a modern pharmaceutical enterprise that
produces and markets Traditional Chinese Medicines and some
chemical pharmaceuticals in China as well as markets its products
to the US, Japan, Canada, Singapore, Malaysia, Thailand and Hong
Kong among other countries.
The securities of the Company issued to the Vendors upon the
closing of the Share Exchange Agreement have not been registered
under the Securities Act of 1933, as amended (the "Act"), or under
the securities laws of any state in the United States, and were
issued in reliance upon an exemption from registration under the
Act. The securities may not be offered or sold in the United States
absent registration under the Act or an applicable exemption from
such registration requirements.
In connection with the closing of the Share Exchange Agreement,
Mr. Hsien Loong Wong resigned as the President, CEO, CFO,
Secretary, Treasurer and a director of the Company and Mr. Lee Tong
Tai was appointed as the President, CEO and a director of the
Company, Ms. Ang Siew Khim was appointed as the Secretary,
Treasurer and a director of the Company, Mr. Johnny Lian Tian Yong
was appointed as a director of the Company, and Mr. Loke Hip Meng
was appointed as the CFO of the Company.
Mr. Lee Tong Tai graduated from Nanyang University in Singapore
with a Bachelor of Commerce degree in 1978 majoring in Management
and Finance. Mr. Lee launched his career with the Singapore Armed
Forces (SAF) where from a cadet, he worked his way up and
consequently held numerous key positions including Chief Engineer
Officer of the Army and Chief of Staff o the 9th Singapore Combined
Arms Division Mr. Lee served for 27 years in the SAF. In 2002, Mr.
Lee incorporated Bizpoint International Ltd. where he is the
Chairman and Chief Executive Officer. Bizpoint International Ltd.
is in the business of providing IT solutions and software
development tools for customers in various industries such as
retail, manufacturing, food and beverage, logistings, chemical and
others. Bizpoint International Ltd. is a public company quoted on
the Singapore Over-The-Counter Platform and trades under the symbol
"BP.OC". In 2005, Mr. Lee started a multi-faceted business named
Sensori Holding(S) Pte. Ltd. which contained a pharmaceutical
company in China, a dental chain, a spa institution and a
distribution network of cosmetic products. Mr. Lee is the Chairman
and Chief Executive Officer of Sensori Holding(S) Pte. Ltd. The
pharmaceutical company under Sensori Holdings was Hubei Minkang
Pharmaceutical Co., Ltd., which was sold by Sensori Holdings to
HBMK Pharmaceutical Limited in October of 2010 as part of a
restructuring plan. Mr. Lee is the Deputy Chairman and a director
of Hubei Minkang Pharmaceutical Co., Ltd.
Ms. Ang Siew Khim graduated from Curtin University of Technology
in Australia with a Bachelor of Commerce in 2003 majoring in
Finance and Marketing. From 2002 to 2008, Ms. Ang has been the
Executive Director and Chief Financial Officer of Bizpoint
International Ltd. and was a key person in developing the business
strategies and formulating the overseas marketing master plan for
Bizpoint International Ltd. Bizpoint International Ltd. is in the
business of providing IT solutions and software development tools
for customers in various industries such as retail, manufacturing,
food and beverage, logistings, chemical and others. Bizpoint
International Ltd. is a public company quoted on the Singapore
Over-The-Counter Platform and trades under the symbol "BP.OC". From
2005 to present, Ms. Ang has been the Executive Director and group
Chief Financial Officer for Sensori Holding(S) Pte. Ltd. Sensori
Holding(S) Pte. Ltd. controls a pharmaceutical company in China, a
dental chain, a spa institution and a distribution network of
cosmetic products. The pharmaceutical company under Sensori
Holdings was Hubei Minkang Pharmaceutical Co., Ltd., which was sold
by Sensori Holdings to HBMK Pharmaceutical Limited in October of
2010 as part of a restructuring plan. Ms. Ang is the CFO and a
director of Hubei Minkang Pharmaceutical Co., Ltd.
Mr. Johnny Lian Tian Yong is the Chairman of JAS Singapore Group
of Companies, a Singapore corporation, that has subsidiary and
affiliate businesses spanning more than 13 countries covering
medical and hospitality services, finance and investments,
logistics, human resources and professional development, green
technologies and information technology services. Mr. Lian has been
the Chairman of JAS Singapore Group of Companies since October
1992. From October 2000 to present, Mr. Lian has been a director of
JAS Medical Screening Centre Pte., Ltd., a Singapore corporation,
which provides health services for the needy and medical screening
for Chinese immigrants, foreign workers and foreign students coming
into Singapore. From June, 1996, to present, Mr. Lian has been a
director of JAS Employment Agency Pte., Ltd., a Singapore
corporation, which facilitates the influx of foreign workers and
immigrants applying for work and residence in Singapore. From June,
2004, to present, Mr. Lian has been a director of JAS Plastic
Industries Pte., Ltd., a Singapore corporation, which is involved
in recycling waste plastics from corporations around the world into
useful products. From September, 2005, to present, Mr. Lian has
been a director of JAS Marketing Pte., Ltd., a Singapore
corporation, which provides business consulting concentrating on
establishing trading ties with other companies, cooperation and
consensus with fellow partners in the industry and identifying
market threats and opportunities. From June, 2003, to present, Mr.
Lian has been a director of JAS Technology Pte., Ltd., a Singapore
corporation, which is in the business of remote video surveillance
for world-wide locations through Wi-Fi and GPRS, as well as
providing spare marine hardware for commercial and pleasure users
of the sea. From January, 2007, to present, Mr. Lian has been a
director of JASTROL Pte., Ltd., a Singapore corporation, which
functions as a gold bullion broker, dealer and also as a goldsmith
in Singapore. Mr. Lian is also currently the CEO, President,
Chairman and a director of TechMedia Advertising, Inc., which
intends to operate the business of displaying mobile digital
advertising platforms in public transportation vehicles such as
long-distance buses and trains in India, as well as a director of
Affinity Gold Corp., a mineral exploration company concentrating on
gold exploration in Peru and Latin America.
Mr. Loke Hip Meng earned his MBA from University of Leicester in
1999, a Bachelor of Commerce degree from Nanyang University in
Singapore in 1978 and a graduate diploma in Business Administration
from the Singapore Institute of Management in 1988. Mr. Loke is
also a Fellow Member of the Certified Public Accountants,
Australia; a Fellow Member of the Institute of Certified Public
Accountants of Singapore; and a Fellow Member of the Association of
Chartered Certified Accountants of the United Kingdom. From 1978 to
1981, Mr. Loke was a senior auditor for Deloitte Huskin & Co.
From 1982 to 2004, Mr. Loke was an accountant and principal auditor
for Jurong Town Corporation. From 2004 to present, Mr. Loke has
been the Executive Director of Wahana Bersama Globalindo Investment
Pte. Ltd. where Mr. Loke include fund management and the
development and acquisition of new businesses as well as human
resource functions.
FORWARD LOOKING STATEMENTS This news release may include
"forward-looking statements" regarding Hubei Minkang Pharmaceutical
Ltd., and its subsidiaries, business and project plans. Such
forward looking statements are within the meaning of Section 27A of
the Securities Act of 1933, as amended, and section 21E of the
United States Securities and Exchange Act of 1934, as amended, and
are intended to be covered by the safe harbor created by such
sections. Where Hubei Minkang Pharmaceutical Ltd. expresses or
implies an expectation or belief as to future events or results,
such expectation or belief is believed to have a reasonable basis.
However, forward-looking statements are subject to risks,
uncertainties and other factors, which could cause actual results
to differ materially from future results expressed, projected or
implied by such forward-looking statements. Hubei Minkang
Pharmaceutical Ltd. does not undertake any obligation to update any
forward looking statement, except as required under applicable
law.
Contacts: Hubei Minkang Pharmaceutical Ltd. +65-6747-7883
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