San Francisco, CA, June 09, 2010 --(PR.com
)-- Bay Peak 6 Acquisition Corp., a Nevada corporation (the “Company”) announced today that it has completed the required capital restructuring and acquisition of Asia Leachdom Holding Corp., a leading pharmaceutical company that focuses on development and production of pharmaceuticals in Tianjin, China, and has also completed the warrant exercise process, raising a total of USD $8,000,000 for expanding the manufacturing capacity.
After the completion of the acquisition, the Company will change its name from “Asia Leachdom Holding Crop” to BOAI Pharma-Tech. (BOAI). BOAI is a holding company that operates primarily through its two PRC subsidiaries, Tianjin BOAI Pharmaceuticals Co. Ltd and Tianjin BOAI Medicine Technology Co., Ltd., both of which are headquartered in Tianjin, in the Peoples Republic of China. BOAI is engaged in the R&D of cardiovascular and cancer drugs, manufacturing and sales of branded pharmaceuticals and natural healthcare products primarily sold in China. BOAI’s US GAAP audited Net Income for June 30 2009 year end was $16,200,000, an increase of 30% over 2008. BOAI is projected to accomplish 30% growth for June 30 2010 year end.
BOAI has kept the terms of the financing open until June 15, 2010, allowing the warrant holders to exercise their warrants to directly invest in BOAI. The Company expects to register for trading on a US stock exchange as soon as practicable.
The San Francisco offices of Pillsbury Winthrop Shaw Pittman LLP acted as legal counsel for BOAI.
Bay Peak 6 Acquisition Corp. was a “Shell” company that was principally owned by Baypeak llc, a privately held investment firm headquartered in San Francisco with affiliate offices in Beijing and Shanghai China. Baypeak sources, develops and executes investment strategies globally, with a particular focus on “going-public” transactions involving profitable operating companies located in Asia. BOAI represents the 4th Chinese company that has successfully completed a significant financing through the merger with a Bay Peak Acquisition Company.
Forward Looking Statements. Certain matters discussed within this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be attained. Such statements are inherently uncertain, and actual results and activities may differ materially from those estimated or projected. Certain factors that can affect the Company’s ability to achieve its anticipated results include, among others, uncertainties inherent in the development of a new business and limited capital.