Newways, Inc. agreed to acquire Bio Essence Pharmaceutical, Inc. from Bio Essence Corporation (OTCPK:BIOE) for $0.3 million on December 5, 2023. Newways, Inc. entered into a stock purchase agreement to acquire Bio Essence Pharmaceutical, Inc. from Bio Essence Corporation on December 12, 2023. Newways will acquire Bio Essence Pharmaceutical in exchange for cash consideration in the amount of $300,000. The Board of Directors approved the sale pursuant to a Consent Resolution dated December 5, 2023. The transaction is expected to close prior to December 31, 2023.

Newways, Inc. completed the acquisition of Bio Essence Pharmaceutical, Inc. from Bio Essence Corporation (OTCPK:BIOE) on December 31, 2023.