Business
Roadman Investments Enters Into Letter of Intent to Acquire PanAsia Distribution Corp.
(via TheNewswire) March 13, 2020 - TheNewswire - VANCOUVER, British Columbia - R...
About this update from Futuregen Industries Corp.
[{"type":"text","content":"Roadman Investments Enters Into Letter of Intent to Acquire PanAsia Distribution Corp.(via TheNewswire)\n \n \nMarch 13, 2020 - TheNewswire - VANCOUVER, British Columbia - Roadman Investments Corp. (TSXV:LITT)(FWB:1QD)(OTC:RMANF) (\"Roadman Investments\" or the \"Company\") is pleased to announce that on March 12, 2020 the Company has entered into a Letter of Intent (\"LOI\") to acquire 75 per-cent of the issued and outstanding shares of PanAsia Distribution Corp. (\"PanAsia Distribution\") an arms length transaction. Roadman and PanAsia will collaborate to integrate the Company's recently acquired portfolio company CLOV Biopharma Corp's (CBP) utilization of cedar leaf oil vapour in a variety of both clinical laboratory and real world commercial scenarios into the Asia Pacific region.\n\n\n \nPanAsia Distribution, by way of a commercial concession with Hong Kong domiciled Shanghai Ingredients Trading Limited (\"Shanghai Ingredients Trading\"), controls a distribution agreement for CBP's cedar leaf oil pharmaceuticals (CLOV) for the territories of People's Republic of China (\"China\") and Hong Kong Special Administrative Region. The distribution agreement extends to Roadman's portfolio of cedar leaf-infused and/or cedar leaf vapor-derived pharmaceutical care products, which are in development, for which Shanghai Ingredients Trading will have an exclusive agreement for sales in China.\n\n\n \nShanghai Ingredients Trading's principals boast over ten years' experience specializing in the importation and customization of premium Western Pharmaceutical Drugs (\"PDs\") for the Chinese marketplace. With the onset of COVID-19 and with the World Health Organization now reporting 95,265 global cases of COVID-19 with 3,281 deaths we are optimistic that their experience and contacts will be able to bring significant market demand for our products. \n\n\n \nShanghai Ingredients Trading management team have previously distributed premium Canadian PDs into China's largest retail chains and C-stores, including RT-Mart International Ltd and Carrefour SA.\n\n\n \nRoadman and Shanghai Ingredients Trading have commenced collaboration on a variety of product customization and distribution initiatives for its soon to be ready CLOV line, with the objective of tailoring the Company's product offering for rapid uptake into the Asian drug markets. The Co...