Less than 1 min.Read

Stemcell United: Acquires 50pc of Lantene

October 21, 2020

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