Euoko completes reverse acquisition of its luxury skin care brand
acquisition transaction for its luxury skin brand Euoko in a deal
that that aims to give the company greater independence in order to
tap into market growth.
The company says that the transaction was completed in response to an share exchange agreement from July last year between the Euoko Group and investors Brandon Truaxe, Julio Lopez and CMMG Finance. The terms of the new agreement mean that Brandon Truaxe, who is the Euoko founder, has acquired a 30 percent share in the company capital stock, while Julio Lopez has acquired a further 5 percent. Transaction boosted by finance In addition, further finance for the transaction also involves the partial advance of a loan of CAD$3m ($3m), provided for by CMMG Finance back in October 2006. The company says that the financial transaction now confirms Truaxe in the position of president and CEO, while Lopez has been appointed as chief innovations officer and Michael Basler as CFO. Truaxe said that the financing would allow the company to take the next step in its goal towards establishing itself as a 'hallmark global brand of luxury skin care'. New headquarters The company also said that it had changed its headquarters to a new address in Toronto, Canada. The company markets a range of skin care products on a global basis, including whitening, anti-blemish, radiance, protection and anti-aging lines. These ranges are formulated with a total of 102 high quality active ingredients that include a peptide from the Temple Viper snake, as well as the latest developments from the biotech and nanotechnology fields.
