Roadman Investments to acquire a 75% stake in PanAsia Distribution.

Roadman Investments, a venture capital firm, is set to acquire a 75% stake in PanAsia Distribution, a distributor of cedar leaf oil pharmaceuticals. Financial terms were not disclosed. Under the terms of the LOI, Roadman will acquire 75% of the issued and outstanding shares in the capital of Panasia Distribution, in exchange for an aggregate of 12m common shares in the capital of Roadman. The closing of this acquisition is subject to TSX Venture Exchange approval. "Shanghai Ingredients Trading has selected Roadman as its partner of choice for commercialization and distribution, due to the first-rate nature of our assets, human capital and manufacturing capabilities. We look forward to making this venture a lasting success as Asian marketplaces continue to open up and develop,” James Foster, Shanghai Ingredients Trading CEO.