Health Advance Inc. (OTC Pink: HADV) operates an e-commerce retailer that sells home medical devices, products, and treatments across the United States and Canada. Shares of Health Advance Inc. are rallying 99%, during afternoon trading Wednesday, September 28, 2016. Over the past three months, the company has seen average daily volume of 675 shares. However, nearly 967,360 shares or dollar volume of $135,430, has already exchanged hands through afternoon trading Wednesday.
Share of Health Advance Inc. are soaring Wednesday after the company announced it has signed a letter of intent to acquire 100% of Hantian Labs Limited. JT Hantian LLC, a subsidiary of Hantian Labs Limited, which has reported sales of over $1 million throughout the calendar year. Overall, the acquisition is expected to move into the definitive agreement stage by October 15, 2016. Here is the press release that details of the proposed acquisition of Hantian Labs Limited:
Health Advance Inc. Press Release:
LAS VEGAS, NV–(Marketwired – Sep 28, 2016) – Health Advance Inc. ( OTC PINK : HADV ) (Hereinafter referred to as “the Company” or “HADV”) is pleased to announce it has entered into a non-binding Letter of Intent to acquire 100% interest in Hantian Labs Limited, a private UK corporation (Hereinafter referred to as “Hantian”). The acquisition is subject to due diligence by both parties, and the negotiation and execution of a definitive agreement. The agreement will be subject to certain conditions including HADV issuing 15,000,000 shares of the Company in exchange for all the issued and outstanding shares in Hantian.
The Company expects to enter into a Definitive Agreement by October 15, 2016. Once completed, HADV will also control 99% of JT Hantian LLC which represents the revenue arm of Hantian Labs. Currently, JT Hantian has sales in excess of $1,000,000 within the calendar year. “This is a very exciting time for Hantian and we are looking forward to expanding our product line in the coming months. Due to an aging global population, the desire to preserve youth, and the numerous advancements made in reversing the natural process of aging, the world market for anti-aging products is growing at a rapid rate. The need to stay young is a vortex that’s attracting younger consumers and this expansion in target audience is expected to help drive the markets growth into the future,” stated Managing Director, Christian Diesveld.
On closing, Hantian Labs will be held as a subsidiary of Health Advance. The Company believes the acquisition of Hantian will create additional value for Health Advance shareholders. Jordan Starkman, CEO of Health Advance, stated, “We are particularly enthused by the prospects and future growth of Hantian, and are excited to begin our advancement and expansion into the nutraceutical space.”
Nutraceuticals are gaining popularity globally for their ability to prevent and fight several common diseases. In addition to this, they also aid in maintaining a youthful appearance and slowing down the aging process. The projected global value of the anti-aging market will be 274.5 Billion USD for 2016 and 291.9 Billion by 2017 according to statistics recently released.