Expands into Asia Market Through the Acquisition of United Century Holding Ltd.
Dragon Jade International Limited (OTCBB: DGJI) announced today that the company has entered into an agreement with United Century Holdings Limited, a British Virgin Islands Corporation, to acquire 100% of the issued and outstanding shares of United Century Holdings Limited in a share exchange whereby Dragon Jade International Limited will issue 2,031 shares of Dragon Jade International Limited restricted common stock for one share of United Century Holdings Limited. The agreement has been approved by all of the shareholders of United Century Holdings Limited and Dragon Jade International Limited by majority shareholder consent in lieu of a meeting. The agreement was signed on August 31, 2012 by the Companies with the approval of the Board of Directors. The agreement provides for 10 working days to administer the share exchange which will result in United Century Holdings Limited to exchange 9,849 shares of United Century Holdings Limited for 20,003,319 shares of Dragon Jade International Limited, representing approximately 40% ownership of Dragon Jade International Limited committed and issued and outstanding shares of common stock.
United Century Holdings Limited currently owns 98.49% interest in a subsidiary, United Asia Medical Network Company Limited, a privately held Hong Kong corporation, which is engaging in the distribution of health and nutrition products, and Traditional Chinese Medicine in Asia regions including Japan, South Korea, Singapore, Thailand, Malaysia, Hong Kong and Taiwan. The acquisition of United Century Holdings Limited will allow Dragon Jade International Limited to enter the market of health and nutrition products and Traditional Chinese Medicine in Asia. United Asia Medical Network Company Limited brings superior products for the betterment of human health at a time when the health consciousness among the public is increasing. United Asia Medical Network Company Limited focuses on the development of breakthrough nutritional products and Traditional Chinese Medicine. United Asia Medical Network Company Limited markets its products through multiple channels, including retail, direct sales and network marketing.
United Century Holdings Limited represents an ideal candidate to create value for Dragon Jade International Limited’s stakeholders. The acquisition would result in substantial cost savings and efficiencies allowing Dragon Jade International Limited to continue its plan for growth and expansion of global market of Traditional Chinese Medicine. Dragon Jade International Limited and United Century Holdings Limited would jointly pursue growth of their businesses into various Asian markets.