CITY OF INDUSTRY, Calif., Nov. 30 /PRNewswire-FirstCall/ -- NutraDyne Group, Inc. (OTC Bulletin Board: NTRG), formerly Digital Learning Management Corporation ("Nutradyne"), today announced that it has closed the Amended Exchange Agreement with Changchun Yongxin Dirui Medical Co., Ltd, a China corporation ("Yongxin") and all of the shareholders of Yongxin.
Mr. Yongxin Liu, Chairman and CEO commented, "We are pleased to close the acquisition and to begin executing on our five-year business plan, which includes opening 1,000 medical retail stores within China. We also plan to open stores in the U.S. to promote traditional Chinese medicine." Mr. Liu added, "We plan to expand aggressively as a public company. This growth will be made possible by the continued cooperation of our partners, both in China, and the U.S."
About the Exchange Agreement
In accordance with the Amended Exchange Agreement, Nutradyne issued 21,000,000 shares of newly issued common stock and 5 million shares of Series A Preferred Stock to the Yongxin shareholders or their designees, representing, immediately following closing, 70% of the total issued and outstanding shares of common stock.
In addition, in accordance with the Amended Share Exchange Agreement, the officers and directors of the public company tendered their resignations and appointed Yongxin designees in their stead.
About NutraDyne Group, Inc.
NutraDyne Group, Inc. was originally formed in Changchun, a capital
city of Jilin province in mainland China. The company sells a variety of
products, both wholesale, and through its retail medical store chain.
NutraDyne has a fourteen year operating history that started as a
combination of a pharmaceutical wholesale supplier, retail pharmacy chain
and third party medical supplier. Today, the company has eleven stores in
Northeast China, and two pharmacies (under construction) in the United
States. The company's U.S. headquarter is in City of Indus
|SOURCE NutraDyne Group, Inc.|
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