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Cerebain Biotech Provides Update on Share Exchange Agreement With PKG, Inc.

COSTA MESA, Calif.–()–Cerebain Biotech Corp. (OTC: CBBT) (the “Company” or “Cerebain”) today provided an update pertaining to the Share Exchange Agreement with PKG, Inc., an Idaho Corporation (PKG) and the equity holders of PKG.

Pursuant to the Share Exchange Agreement, signed on February 12, the purchase price for PKG is approximately $2.34 Million payable in shares of Cerebain’s common stock at a price of $0.07 per share or an aggregate of approximately 33.47 Million shares. Cerebain has agreed to file a registration statement within 6 months of the closing to register the resale of the common stock issued to the PKG equity holders and to use its reasonable best efforts to have the registration…

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