Natural Health Farm Holdings, Inc, a nutraceutical biotechnology company, is pleased to announce that the Company has executed an agreement to acquire all issued and outstanding shares of Natural Health Farm, Inc, a distributor of naturopathic and nutraceutical products in North Carolina and throughout the East Coast of the United States.
Under terms of the agreement, NHF Holdings shall acquire 100% of the outstanding shares of NHF Inc. in exchange for US$30,000 in shares of NHEL common stock, based on the closing share price on March 11, 2019.
Founded in 2010, NHF Inc. is a North Carolina company established to import naturopathic and nutraceutical products from reliable suppliers in South East Asia and distribute to naturopathic practitioners and retail outlets in North Carolina and throughout the East Coast of the United States. NHF Inc. was founded by Ms. Judy Lee, a director of NHF Holdings.
Vernon Tee, President of NHF Holdings, commented, “The acquisition of NHF Inc. is a small but very important acquisition because it will enable NHEL to rapidly enter the U.S. marketplace and better position Judy to build a strong team to grow organically and through additional strategic acquisitions.”
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Judy Lee, NHF Inc. President and Chief Executive Office, stated, “I first started NHF Inc. because I am truly passionate about naturopathic alternative medicines and their many benefits. Following the acquisition of NHF Inc. by NHEL, we can now shape that passion into a dynamic business focused on benefiting U.S. consumers with high quality and reliable nutraceutical products manufactured and distributed by NHEL and its partners from around the world. I am excited for the opportunity to bring many of these products to the United States for the very first time.”
Date: March 18, 2019
Source: GlobeNewswire
