Business
Global Pharmatech, Inc. Completes the Transaction to Acquire Botaniex, Inc.
Global Pharmatech, Inc. Completes the Transaction to Acquire Botaniex, Inc..
About this update from Global Pharmatech, Inc.
[{"type":"text","content":"Global Pharmatech, Inc. Completes the Transaction to Acquire Botaniex, Inc.Hong Kong, China, March 8, 2023 (OTC News Disclosures) -- Global Pharmatech, Inc. (OTC Pink: GBLP) (\"GBLP\" or the \"Company\"), is pleased to announce that it has completed the transaction to acquire 100% of the issued and outstanding shares of Botaniex, Inc. (the “Botaniex”) with Botaniex, Inc., a Delaware corporation, which is operating in Changsha, China, through execution of a definitive Share Exchange Agreement on December 18, 2022, whereby GBLP has acquired all of the issued and outstanding shares of Botaniex (the “Transaction”).Pursuant to the Transaction, an aggregate of 112,360,000 fresh, restricted shares of GBLP Common Stock was issued in exchange for the shares of Botaniex Common Stock issued and outstanding. As of Closing, Botaniex Shareholders shall own, in the aggregate, not less than twenty-eight percent (28%) of the total issued and outstanding shares of GBLP Common Stock outstanding, on a fully diluted basis,After the Closing, Mr. Yong Sheng, the President of GBLP, resigned as Chief Executive Officer, President, Treasury and Secretary of GBLP immediately, but thereafter will remain a Director of GBLP’s Board of Directors. At the same time, Melson Liao, the President of Botaniex, was elected to serve as Director, Chief Executive Officer, President, Treasury and Secretary of GBLP. Additional information about the Transaction, and the vision of the companies such as the development strategies, business models, competitive strategies and etc., will be provided in the coming Annual Disclosures and the future press reportsAbout GBLPGlobal Pharmatech, Inc, through its subsidiaries, discovers, develops, manufactures and markets proprietary therapeutical products based on Traditional Chinese Medicine (TCM) while utilizing modern facilities and advanced R&D technologies. The company’s growth strategy is to establish new ventures and/or joint venture in USA, China, and Canada.About Botaniex, Inc.Botaniex, Inc. is a Delaware Corporation incorporated in 2005, and it has been operating through its 100% owned subsidiary of Changsha Botaniex, Inc. in China since 2005.Changsha Botaniex, Inc. is a market-oriented supplier & manufacturer of natural ingredients (botanical extracts/herbal extracts and herbal formulatio...