AnPac Bio-Medical Science (NASDAQ: ANPC), a company with operations in the United States and China, and its subsidiary Foodbase Group Inc, have signed a definitive equity purchase agreement; the agreement outlines the acquisition of a group of affiliated companies: SLV Windfall Group LLC, Windfall SLV Development LLC and SLV Windfall Management LLC. These companies are engaged in developing, marketing and selling real estate in a planned community in McCormick County, South Carolina, called Savannah Lakes Village. According to the announcement, SLV Windfall Group LLC owns dozens of buildable lots along with some 500 acres of undeveloped land for future development projects and the exclusive right to purchase additional buildable lots. Savannah Lakes Village is a well-developed, three-decade-old community. “We believe this acquisition will expand the scope of our operations meaningfully and bring significant value to our shareholders,” said AnPac Bio-Medical Science co-CEO Haohan Xu in the press release. “We are in the process of acquiring some business-to-business e-commerce food businesses. The acquisition of the SLV project will potentially give the company an opportunity to use the 500 acres of undeveloped land to build low-costs, smart-food warehouse and distribution centers. We also plan to build and sell residential properties with great profit potential, thanks to the favorable terms granted by the local land authorities and use the profits generated from the sale of these residential properties to fund the construction of the smart food warehouse and distribution centers.”
To view the full press release, visit https://ibn.fm/7JzmZ
About AnPac Bio-Medical Science Co. Ltd.
AnPac Bio is a biotechnology company focused on early cancer screening and detection, with 155 issued patents as of June 30, 2022. With two certified clinical laboratories in China and one CLIA- and CAP-accredited clinical laboratory in the United States, AnPac Bio performs a suite of cancer-screening and detection tests, including Cancer Differentiation Analysis (“CDA”), biochemical, immunological and genomics tests. The company intends to enter the business-to-business e-commerce food business with the acquisition of Fresh2 Ecommerce Inc. For more information about the company, visit www.AnPacBio.com.
NOTE TO INVESTORS: The latest news and updates relating to ANPC are available in the company’s newsroom at https://ibn.fm/ANPC
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