ROCKY MOUNTAIN GINSENG INC - with $42 Million Food Distributor in Fujian
Province
New York, New York, Dec. 02, 1999 (Market News Publishing via COMTEX)
-- Mr. Brian Hodge, Managing Director of Rocky Mountain (Fuzhou) Drug
Co. Ltd. ("RMGG") announced that it signed a contract with Quanzhou
Huada Qilong Trading Co. Ltd, ("Quanzhou Trading Co.") to immediately
supply RMGG's complete line of products to the 100 supermarkets that
the Company operates and an additional 400 plus stores that the company
wholesales products to in all major cities in Fujian province.
"This is the second major contract signed recently by RMGG which will
speed the Company along its rapid growth strategy," stated Mr. Hodge,
"supplying Quanzhou Huada Qilong Trading Co. Ltd. with RMGG's
traditional products and the Company's newly developed product line is
projected to generate in excess of $500,000 USD revenue per annum." Mr.
Hodge also said, "Under the terms of the agreement RMGG will also
market its complete product line on Quanzhou Trading Co.'s e-commerce
site which will give RMGG a presence in China's rapidly developing
internet marketplace." Quanzhou Trading Co., Ltd. e-commerce site is
under development and it is expected to be launched in early 2000.
Nearly all of RMGG's ginseng products are expected to be featured on
the site.
The trading company President, Mr. Huang Guo Jin said he will feature
Rocky Mountain's products in end of aisle displays in all of his
supermarkets and will provide extensive television and newspaper
advertising support to help Rocky Mountain's products gain widespread
consumer acceptance quickly. He is particularly interested in Rocky
Mountain's Ginseng and Honey, Honey Coated Fresh Ginseng Slices and in
the Company's newly designed gift pack. Mr. Hodge stated that Rocky
Mountain (Fuzhou) Drug Co. Ltd. will begin the immediate production of
the gift packs to take advantage of the huge Chinese Spring Festival
market.
About Quanzhou Trading Co. - Quanzhou Trading Co. is the major food
wholesaler in the province of Fujian, China. Its headquarters are
located in the highly industrialized city of Quanzhou with a population
of 6 million people. The company own and operate 100 supermarkets and
wholesale food and drug products to over 400 other supermarkets
covering every major city in Fujian province. The company distributes
from a new computerized 300,000 square feet warehouse in Quanzhou and
has recently leased a 100,000 square feet distribution centre in
Fuzhou. Its annual net sales are in excess of $42 million USD. The
company's internet e-commerce site is www.qltrade.com.
About Rocky Mountain Ginseng, Inc. - Rocky Mountain Ginseng, Inc.'s
head office is located in British Columbia, Canada. The Company exports
Canadian grown American ginseng and other raw material for processing
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. ("RMGG") 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 in
China. RMGG's ownership of these drug and hygiene permits is
additionally important as it allows RMGG to import pharmaceutical and
healthy food products from the USA and other Western countries. The
Company will
actively pursue this business opportunity. 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 27 people in
processing, sales, accounting and management. Rocky Mountain (Fuzhou)
Drug Co. Ltd. is a 100% wholly owned American company in the Fujian
province.
This press release contains certain forward-looking statements make
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.
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TEL: (604) 420-0095 Rocky Mountain Ginseng, Inc.
TEL: (604) 420-0095 Rocky Mountain Ginseng, Inc
Robert L. Bell, President
E-mail: rlbell@direct.ca
Internet: Website: www.direct.ca/ginseng
TEL: (858) 453-0772 JGS Management Group
Jerry Sirnek, President
E-mail: jgsgroup@aol.com
TEL: (86) 591-379-7969 Rocky Mountain (Fuzhou) Drug Co, Ltd.
Brian A. Hodge, Managing Director
E-mail: rockymt@public.fz.fj.cn
TEL: (760) 942-0772 PMR & Associates, LLC
Patrick Post, Investor Relations
E-mail: pmrandco@aot.com
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