now all we need is PINKY to be gone, and we're on our way!!!
Major Developments At Rocky Mountain
Drug Co., Ltd.
VANCOUVER, British Columbia--(BUSINESS WIRE)--Aug. 23, 2000--Rocky
Mountain Ginseng, Inc. (Pink Sheets:RMGG) is pleased to announce that
following a period of test marketing, the Rocky Mountain (Fuzhou)
Drug Co., Ltd. has signed a distribution agreement with Mr. Cheng Han
Qiang, Area Manager for the Shanghai Yun Hu Drug Co., Ltd.
According to Mr. Jiang Shao Shu, Vice President, marketing for the
Fuhzhou company, the initial distribution agreement is for a trial
period of three months. The Shanghai company guarantees to purchase
100,000 boxes monthly, on a cash basis, of Rocky Mountain (Fuzhou)
Drug company's ginseng and DNA Tablets. Upon satisfactory completion
of this contract, said Mr. Jiang, the Company will grant the Shanghai
company distribution rights for Shanghai and the Zhejiang province for
all of Rocky Mountain's products. The Shanghai Yun Hu Drug Co. is well
established to service Shanghai and the heavily populated province of
Zhejiang.
Mr. Jiang stated that he believes that the Company has the
production capacity to service these new markets and that this would
be a major break through for the Company as it currently has no
distribution in those affluent markets.
Mr. Jiang also stated that the Company has made a formal
application to the patents office in Beijing to patent its formula for
producing ginseng and DNA tablets. Rocky Mountain (Fuzhou) Drug Co.,
Ltd. is the only company in China producing this type of tablet. (DNA
is currently being touted by the medical and academic community in
China as being very beneficial for health.)
In another unique development, said Mr. Jiang, the Company has
entered into an agreement with the Yong Sen Bakery Co., Ltd. in
Quanzhou to include Rocky Mountain's products in the company's moon
cake gift packages.
Mr. Jiang stated the second largest marketing period for gift
products is the Mid-Autumn or Moon Cake Festival in September, and
attractive gift packages of moon cake are a very popular gift item.
The Yong Sen Bakery Co. is supporting this marketing initiative with a
media campaign.
According to Company President Brian Hodge, the long awaited
complex consolidated corporate financial statements required by the
U.S. Securities commission for the Company to complete its Form SEC-10
SB filing process have been completed and are now being processed by
the corporate lawyers.
In another major development, said Mr. Hodge, the city government
will soon host a half day seminar for the healthy food and drug
community to exclusively introduce and promote all of Rocky Mountain
(Fuzhou) Drug Co., Ltd. products. Mr. Liu, the city's vice-mayor of
business development will formally introduce the Company to the
largest German supermarket, Chain -- Metro (Fuzhou) Ltd. and to
Wal-Mart China Company's Fuzhou buyers. Both these retailers are
making major investments in Fuzhou, Mr. Hodge said.
About Rocky Mountain Ginseng, Inc.
Rocky Mountain Ginseng, Inc.'s head office is located in British
Columbia, Canada. The Company exports American ginseng to China and
manufactures and processes America ginseng products in China. Rocky
Mountain Ginseng, Inc. holds exclusive world processing and
distribution rights to several innovative value added ginseng products
developed in North America.
Rocky Mountain Ginseng, Inc. purchased Fuzhou Fujian Drug Company
located in China in February 1999. This acquisition included all
necessary drug and hygiene licenses allowing the Company to import,
export, manufacture and distribute ginseng products in all provinces
of China. The Company has completed the construction of its new office
and manufacturing facility in the city of Fuzhou and is currently
producing traditional ginseng products for the Chinese Market. The
Chinese factory employs 42 people in processing, sales, accounting and
management. Rocky Mountain (Fuzhou) Drug Co. Ltd. is the first wholly
owned Canadian Company in the Fujian province.
This press release contains forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Act of 1995. Expression of future goals and similar
expressions reflecting something other than historical fact involve
risks and uncertainties. The actual results the company achieves may
differ materially from any forward-looking statements due to such
risks and uncertainties.
--30--MS/se*
CONTACT: Rocky Mountain (Fuzhou) Drug Co. Ltd.
Brian A. Hodge, President, 86-591/379-7969
rockymt@public.fz.fj.cn
www.RMGGInvestor.com
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