Lid Hair Studios Completes Reverse Merger With Shaanxi Jiali

Lid Hair Studios has completed its reverse merger with Shaanxi Jiali Pharmaceuticals (Shaanxi Jiali). Concurrent, the company has appointed the following Officers and Directors: Jun Xia as president, CEO and chairman; Minggang Xiao as chief financial officer and director; and Wanxiang Li, Nanjing Lin and Xiaoying Zhang as independent directors and members of the audit, compensation, nominating and corporate governance committees.

Mr. Xia said: “We are very pleased to announce the completion of our merger. The completion of this transaction enables us to broaden our investor base, create a liquid market for our stock, and financially support the accelerated growth of our business. Our next goal will be to seek a listing on a senior stock exchange in the US.”

“We are very positive about the growth potential of the pharmaceutical industry in China. Our immediate goal is to further penetrate the pediatric medicines market in China and develop new products leveraging our research and development centre and partnerships.”

Shaanxi Jiali distributes both prescription and OTC drugs including both conventional and Traditional Chinese Medicines (TCMs), pharmaceutical products, with pediatric medicine as its focus.