Yazhong Liao, Zhangmei Zhang, Huiwen Qu, Xiuxia Ji and Yimin Gu agreed to acquire 85.8% stake in Camelot Corp. (OTCBB:CAML) from Andrea Lucanto for $0.3 million on December 12, 2012. The buyers acquired 1.8 million shares of Camelot. Out of $0.3 million consideration, $0.21 million was used to pay off certain liabilities of Camelot. The transaction was funded from personal funds of certain shareholders of the parent company of the buyer. Andrea Lucanto resigned from her position as Chief Executive Officer, President and Chief Financial Officer and Director of Camelot and Yazhong Liao was appointed as Chief Executive Officer, President, Chief Financial Officer and Director of Camelot. The transaction is subject to cancellation of debt of Camelot and resignation of officers and Directors of Camelot. The transaction is expected to close on December 12, 2012. Loeb & Loeb LLP acted as escrow agent.

Yazhong Liao, Zhangmei Zhang, Huiwen Qu, Xiuxia Ji and Yimin Gu completed the acquisition of 85.8% stake in Camelot Corp. (OTCBB:CAML) from Andrea Lucanto on December 13, 2012.