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Advanced Plant Pharmaceuticals, Inc. (APPI) Today Announced That It Had Sold Its 7 Million Shares In Mazal Plant Pharmaceuticals Inc. For 20 Million Shares In Akid Corporation



10/19/2005 5:11:57 PM

NEW YORK, July 20, 2005 (PRIMEZONE) -- Advanced Plant Pharmaceuticals, Inc. (OTCBB:APPI) and its majority owned subsidiary, Mazal Plant Pharmaceuticals Inc. ("Mazal"), announced today that Akid Corporation ("Akid"), a Colorado corporation, acquired the entire APPI ownership interest of 7,000,000 shares of the common stock of Mazal, a Delaware corporation, for 20 million Akid shares. The 7 million shares acquired by Akid represent 68.5% of the issued and outstanding shares of Mazal. In exchange, Akid has agreed to issue to APPI a total of 20,000,000 shares of common stock of Akid. Upon this issuance, which is partially subject to Akid increasing its authorized capital, APPI will have approximately 68.5% of the issued and outstanding common shares of Akid. In turn, Akid will hold a majority of the issued and outstanding shares of Mazal.

Read at Prime Zone

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