Renhuang Signs Exclusive Purchase Agreement for Siberian Ginseng
Pharmaceuticals, Inc. (NYSE Amex: CBP) (“Renhuang” or the “Company”), a
developer, manufacturer and distributor of botanical products,
bio-pharmaceuticals and traditional Chinese medicines (“TCM”), today announced
“Agreement”) with Yichun Red Star Forest Bureau of
Forest Bureau”) for indefinite exclusive access to 100,000 acres of wild
Siberian Ginseng in
medically-established anti-depressant and mood regulation qualities and is
also an active ingredient in the Company’s market-leading line of all-natural
Under the terms of the Agreement, Renhuang will be granted permanent
exclusive rights to purchase the wild Siberian Ginseng grown on 100,000 acres.
The Siberian Ginseng plant yield is expected to amount to an estimated 500
tons annually. The Siberian Ginseng fields will be maintained and harvested by
personnel supervised by the Forest Bureau and the Company will pay a lower
than prevailing fair market price for the Siberian Ginseng harvested. Renhuang
will be responsible for continued maintenance and protection of wild resources
to make this area a professional Siberian Ginseng base that produces
additional Ginseng. In addition to generating income for the Forest Bureau,
this resource base will provide employment opportunities for local farmers.
“We are excited about securing exclusive access to the world’s finest
quality wild Siberian Ginseng,” said Mr.
Renhuang. “It is also a great honor to work on a project with Yichun Red Star
Forest Bureau to assist in the economic development of the region and improve
the cultivation of this precious natural resource. This Agreement provides us
a reliable and abundant supply of Siberian Ginseng at an attractive price,
resulting in a significant competitive advantage in the market.”
ABOUT RENHUANG PHARMACEUTICALS, INC.
Renhuang Pharmaceuticals, Inc. is engaged in the research, development,
manufacturing, and distribution of botanical products, bio-pharmaceutical
products, and traditional Chinese medicines (“TCM”), in
GMP-certified production facilities in Ah City, Dongfanghong and Qingyang. The
Company distributes its botanical anti-depression and nerve-regulation
products, biopharmaceutical products, and botanical antibiotic and OTC TCMs
through its network of over 3,000 distributors and over 70 sales centers
across 24 provinces in
Safe Harbor Statement
This press release contains certain statements that may include
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements are based upon management’s
beliefs, assumptions and expectations of the Company’s future operations and
economic performance, taking into account the information currently available
to management. These statements are not statements of historical fact.
Forward-looking statements involve risks and uncertainties, some of which are
not currently known that may cause actual results, performance or financial
condition to be materially different from the expectations of future results,
performance or financial condition expressed or implied in any forward-looking
statements. These forward-looking statements are based on current plans and
expectations and are subject to a number of uncertainties including, but not
limited to, the Company’s competitive advantages as a result of the
acquisition agreement with Yichun Red Star Forest Bureau of
factors detailed in the Company’s annual report on Form 10-K and other filings
with the Securities and Exchange Commission. The Company undertakes no
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise. You are
cautioned not to unduly rely on such forward-looking statements when
evaluating the information presented herein.
For more information, please contact: Company Contact: Renhuang Pharmaceuticals, Inc. Ms. Portia Tan, IR Contact Tel: +86-451-8260-2162 Email: email@example.com CCG Investor Relations: Mr. Mark Collinson, Partner Tel: +1-310-954-1343 (Los Angeles) Email: firstname.lastname@example.org Web: http://www.ccgirasia.com Mr. Crocker Coulson, President Tel: +1-646-213-1915 (New York) Email: email@example.com
SOURCE Renhuang Pharmaceuticals, Inc.