E.J. Nak Mattress to acquire Chongqing Huading Modern Biopharmaceutics

By Jennifer Chiou

New York, Sept. 13 - E.J. Nak Mattress Co. entered an agreement to acquire all shares of Chongqing Huading Modern Biopharmaceutics Co., Ltd., according to an 8-K filing with the Securities and Exchange Commission.

Conditions of the agreement include Chongqing shareholders approving the transaction and E.J. Nak Mattress raising $8 million to implement business plans for the companies.

After the transaction, Chongqing shareholders could own up to 70% of the outstanding shares, which could result in a change in control of the company.

An Ardrossan, Alta., company, E.J. Nak sells mattresses, bed rails and related products.

Chongqing Huading is a Chinese biopharmaceutical company.

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