Oct 24, 2011

"Following" : "Follow"}} October 24, 2011 9:03am   Comments Share: China Advanced Construction Materials Group, Inc. (NASDAQ: CADC ) today announced that it has entered into a definitive agreement and plan of merger with Novel Gain Holdings Limited, a British Virgin Islands company, CACMG Acquisition, Inc., a Delaware corporation and a wholly owned, direct subsidiary of Novel Gain, Mr. Xianfu Han and Mr. Weili He, pursuant to which Merger Sub will merge with and into the Company with the Company continuing as the surviving corporation and a wholly owned subsidiary of Novel Gain. Mr. Han is the Company's Chief Executive Officer and the Chairman of the Company's Board of Directors and beneficially owns approximately 32.5% of the Company's outstanding shares of common stock, $0.001 par value per share. Mr. He is the Company's Chief Operating Officer and Vice-Chairman of the Company's Board of Directors and beneficially owns approximately 17.0% of the outstanding Company Common Stock. © 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.