Vilacto Bio Inc. entered into a stock purchase agreement to acquire Pharma GP APS from 9 Heroes APS for $6 million in cash and stock on April 19, 2017. Under the terms of the transaction, the consideration will be paid as $3 million in cash and $3 million in stock. The transaction is subject to raising of financing of $4 million by Vilacto Bio for operational expenses and receiving audited financial statements from Pharma GP. The transaction was initially expected to close on May 31, 2017 and later on on September 30, 2017. As per the 10Q filing made with the SEC, the closing is not likely to occur until Vilacto Bio is able to raise financing for the purchase.