- Stemcell United (SCU) has signed an agreement to acquire 50.1 per cent of Shenzhen Lantene Dingzhi Biotechnology
- Lantene established in 2005 and is an aquaculture company in China specialising in the commercial scale cultivation and sale of sea grapes
- Sea grapes area kind of algae species found in the coastal regions in the Indo-Pacific
- To acquire the 50.1 per cent, Stemcell will also issue 30M shares at 1.8 cents, for a total of $540,000 and a 20 per cent share of subsidiary, Stemcell Essential
- Then the acquisition expected to completed by November 15
- Stemcell has ended the day 5.56 per cent in the green with shares trading for 1.9 cents each
