Business
Roadman Investments Signs Definitive Agreement to Acquire PanAsia Distribution Corp.
(via TheNewswire) March 17, 2020 - TheNewswire - VANCOUVER, British Columbia - R...
About this update from Futuregen Industries Corp.
[{"type":"text","content":"Roadman Investments Signs Definitive Agreement to Acquire PanAsia Distribution Corp.(via TheNewswire)\n \n \nMarch 17, 2020 - TheNewswire - VANCOUVER, British Columbia - Roadman Investments Corp. (TSXV:LITT)(FWB:1QD)(OTC:RMANF) (\"Roadman\" or the \"Company\") is pleased to announce that the Company has signed a definitive agreement to acquire 75 per-cent of the issued and outstanding shares of PanAsia Distribution Corp. (\"PanAsia Distribution\"). 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 with a particular focus on the huge emerging market place in China.\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 the Hong Kong Special Administrative Region and is simultaneously investigating further expansion across Asia. 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 across the whole China region. \n\n\n \nShanghai Ingredients Trading's principals boast over ten years' experience specializing in the importation customization and successful sales of premium Western Pharmaceutical Drugs (\"PDs\") for the Chinese marketplace. With the onset of COVID-19 and with the World Health Organization now reporting 179,829 global cases of COVID-19 with 7,071 deaths we are confident 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 pharmaceutical retail chains and C-stores, including RT-Mart International Ltd, Yifeng Pharmacy, Sinopharm, China Nepstar Chain Drugstore and others. RT-Mart alone operates over 484 retail locations covering 233 cities and 29 provinces in China and generated $20 billion in ...