Yesterday CNOA announced that through Ankang Agriculture (Dalian) Co., Ltd. an indirect wholly owned subsidiary, entered into a stock purchase agreement to acquire 1,800,000 shares, representing approximately 60% of the capital stock, of Changbai Eco-Beverage Co., Ltd. from Mr. Hongjun Ma for $10,250,403
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Dalian has deposited $5,125,201 on account of the purchase price. This will entitle Dalian to have the deposited amount returned if the transaction is not approved by the government authroities in the PRC by February 4, 2010, or if a closing does not occur by March 25, 2010 due to the fault of Mr. Hongiun Ma.
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