Yijun HU, Linzhou WANG, Binbin LI, Ruli WANG, Xiufang HU, Hongkai BAI, Zhongmiao HU and Qiang LIU entered into a stock purchase agreement to acquire 96.6% in Lyons Liquors Inc. from Shefali Vibhakar for $0.23 million on February 20, 2013. Under the terms of the agreement, Yijun HU purchased 9.78 million shares, Linzhou WANG purchased 0.02 million shares, Binbin LI purchased 0.01 million shares, Linzhou WANG purchased 0.02 million shares, Ruli WANG purchased 0.01 million shares, Xiufang HU purchased 0.01 million shares, Hongkai BAI purchased 0.02 million shares, Zhongmiao HU purchased 0.01 million shares and Qiang LIU purchased 0.02 million shares respectively, representing 9.82 million to be acquired in all. Shefali Vibhakar served as the Chief Executive Officer, Chief Financial Officer and Director of Lyons Liquor. The deal will terminate if not completed by February 22, 2013. Yijun Hu has been appointed as the Director, Chief Executive Officer and Chairman of Lyons Liquors. The deal is subject to resignation of officers and Directors of Lyons. Eaton & Van Winkle LLP acted as legal advisor and escrow agent for buyers.


Yijun HU, Linzhou WANG, Binbin LI, Ruli WANG, Xiufang HU, Hongkai BAI, Zhongmiao HU and Qiang LIU completed the acquisition of 96.6% in Lyons Liquors Inc. from Shefali Vibhakar on February 22, 2013.