Cellmid: Signs 10 year Chinese distribution agreemen

Shares in Australian-based company Cellmid (CDY) rose after it announced a 10-year agreement to distribute its anti-aging and skin care products in China
Cellmid signed the agreement with Hong Kong-based Ourui Health Management via its subsidiaries Advangen Limited and Advangen Inc
Then the agreement will grant Cellmid expansion into the Chinese market selling its Japanese consumer health products Ju-Ju and Lexilis
Ourui Health Management owned by beauty entrepreneur Steven Ko who co-founded the Australian beauty brand Red Earth and facemask brand SkinVitals
The agreement also extendable for an additional 10 years subject to distributor performance
CDY shares are up 4.55 percent on the back of the announcement, closing at 11.5 cents each