XI’AN, China, Nov. 8 /Xinhua-PRNewswire-FirstCall/ -- Cyber Group Network Corporation, a publicly traded Nevada corporation has successfully closed on the definitive agreement to acquire Skystar Bio-Pharmaceutical Company Co., Ltd., a Cayman Islands Company (“Skystar”).
The Board of Directors, effective upon Mr. Cramer’s resignation as Chief Executive Officer and Chief Financial Officer on the same day, appointed Weibing Lu as Chief Executive Officer and a Director, and Erna Gao as Chief Financial Officer and a Director. The Board of Directors also appointed Wei Wen and Xinya Zhang as new Directors on the Board.
About Skystar
Skystar is mainly owned by the shareholders of Xian Tianxing Bio-Pharmaceutical Co., Ltd. (hereafter “Xian Tianxing”), a Chinese company located in Xi’an China, which was established in July 1997. Skystar has agreements with Xian Tianxing to manage all of Xian Tianxing’s businesses and to control Xian Tianxing. After 8 years of research and development, Xian Tianxing is a high-tech bio-pharmaceutical enterprise, engaged in research, development, and production of bio-pharmaceutical products. Xian Tianxing’s principal products comprise of veterinary drugs, fodder additive, microorganism preparation products; and it has a veterinary bio-pharmaceutical research and development center located in Xi’an, China.
Safe Harbor Act Notice
The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Some of these include, but are not limited to, the successful closing of the acquisition of Skystar by CGPN, political occurrences and events in China, the economy of China, and other factors. Readers are cautioned not to place undue reliance on these forward-looking statements. CGPN and Skystar undertake no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof. Readers should carefully review the risks described in other documents CGPN files from time to time with the Securities and Exchange Commission.
Skystar Bio-Pharmaceutical Company Limited
CONTACT: Mr. Steve Zhu, the attorney of Skystar, +86-1381-826-8633, or+852-29198929