Biostar Pharmaceuticals, Inc. (NasdaqCM:BSPM) executed a non-binding letter of intent to acquire Xianyang Yongsheng Health Products Co., Ltd. on September 7, 2016. Under the terms of the deal, the consideration would comprise of cash and shares of Biostar's restricted common stock which number of shares shall not exceed 19.99% of the total outstanding equity of Biostar. The purchase price is subject to adjustment. The acquisition is subject to completion of due diligence review, customary definitive documentation and requisite corporate and regulatory approvals. The transaction is expected to be completed in second half of 2016.