BSEM - BioStem inks share exchange contract to buy back common stock of unit/manufacturing division
- BioStem Technologies ( OTCQB:BSEM ) said it signed a share exchange agreement to acquire back 10% of the issued and outstanding shares of its non-wholly owned subsidiary and manufacturing division.
- BioStem inked an agreement with M.W. Jens Realty Investments — a shareholder of Delaware-based Blue Tech Industries, which is a non-wholly owned subsidiary of Biostem and manufacturing division for the company's tissue allografts.
- Under the agreement, the company agreed to acquire the common shares of Blue Tech held by M.W. Jens in exchange for issuing 500K common shares of BioStem, par value $0.001, to M.W. Jens.
- "We are happy to come to an agreement after four years of our partner’s investment to get our Tissue allograft division up and running," said BioStem CEO Jason Matuszewski.
For further details see:
BioStem inks share exchange contract to buy back common stock of unit/manufacturing division