BioPharm Asia, Inc. Announces Acquisition to Facilitate Its Expansion into Selected Supplementary Products
8/11/2010 8:44:59 AM
NEW YORK & TONGHUA, China--(BUSINESS WIRE)--BioPharm Asia, Inc. (Ticker Symbol: BFAR.OB, the “Company”) announced today that on August 7, 2010, its wholly-owned subsidiary, Tonghua Huachen Herbal Planting Company Limited, acquired all of the outstanding equity interests in Tonghua Tianbao Wood Frog Cultivation Limited Company (“TBWF”) for a purchase price of $4,000,000. The purchase price is payable in installments of 2,000,000 RMB payable five days after closing and on each of the first and second anniversaries of the closing, with the balance payable on the third anniversary of the closing.