IRVINE, Calif., July 1 /PRNewswire/ -- ChromaDex, Inc. ("ChromaDex"), today announced that effective June 20, 2008, it completed its merger with CDI Acquisition, Inc. ("CDI"), the wholly-owned subsidiary of Cody Resources, Inc. ("Cody") (OTC Bulletin Board: CDYE). The transaction enables ChromaDex to be wholly owned by a company whose shares are publicly traded, which will help it be better positioned to meet the ongoing needs of a rapidly growing marketplace. The business and operations of ChromaDex prior to the merger continue unchanged after the merger, and ChromaDex should continue to meet demand for analytical tools, products, and services that help customers comply with regulatory, quality, efficacy and safety standards for their products.
The merger was completed pursuant to an Agreement and Plan of Merger dated May 21, 2008, by and among ChromaDex, Cody and CDI. As a result of the merger, ChromaDex became a wholly owned subsidiary of Cody, each outstanding share of ChromaDex common stock automatically converted into the right to receive one share of common stock of Cody and ChromaDex shareholders own or have the right to own, in the aggregate, approximately 23,522,122 shares, or 84% of the outstanding common stock of Cody. Also in connection with the Merger, Cody changed its state of incorporation from Nevada to Delaware and changed its name to ChromaDex Corporation.
"We are pleased to have completed this reverse merger as a means of
achieving public ownership for ChromaDex," said Frank Jaksch, CEO and
co-founder of ChromaDex. "This merger into the public arena affords
ChromaDex benefits of public ownership, including the ability to enhance
our visibility with customers and prospective customers, additional
liquidity for existing and future equity investors, and access to potential
additional avenues for capital formation to help us grow and expand to meet
the needs of the sizable natural product chemistry, dietary supplement,
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