China Digital Animation Development, Inc. (CHDA.OB) Enters Stock Purchase Agreement
Today, China Digital Animation Development, Inc. announced that it has entered into a stock purchase agreement with Chongqing Dinv Ares Filming Production Co., Ltd. (Dinv Ares), an award-winning film production company based in Chongqing, China. The acquisition will be an all-stock transaction in which China Digital Animation will issue one million shares of its common stock to Dinv Ares. In exchange, it will receive certain assets of the company. The acquisition of Dinv Ares provides China Digital Animation with a talented, creative team of production professionals, in addition to assets such as: post-editing facilities, professional video cameras, lighting, audio and…