Agreement Signed Between Rocky Mountain Ginseng, Inc.'s China Subsidiary and Wal-Mart China Ltd.
VANCOUVER, B.C., Mar 31, 2000 (BUSINESS WIRE) -- Rocky Mountain Ginseng, Inc.
(Pink Sheets:RMGG) is pleased to announce that a formal vendors agreement
between Wal-Mart China Ltd. and Rocky Mountain (Fuzhou) Drug Co. Ltd. was
confirmed today in Shenzhen, China.
Jiang Shao Shu, Rocky Mountain's vice-president of marketing, reported in Fuzhou
that this agreement is a major breakthrough for the company in that it gives the
company immediate access to the affluent and populous South China market.
Wal-Mart has agreed to carry Rocky Mountain products in all of its stores in
China and will also wholesale these products to other supermarket chains.
Wal-Mart has initiated a major expansion program in China, Jiang stated, and
Wal-Mart will automatically stock Rocky Mountain's products in its new stores.
Also, last week in Shenzhen, Rocky Mountain concluded another distribution
agreement with Shirble Department Store, Shenzhen's largest department store.
They will commence marketing Rocky Mountain's ginseng root and processed ginseng
products in May.
A lease agreement for warehouse and sales office space should be signed in
Guangzhou next week. Jiang stated this should greatly facilitate the company's
ability to service the rapidly expanding Guangdong market.
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 as well as 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 32 people in processing, sales, accounting and
management. Rocky Mountain (Fuzhou) Drug Co. Ltd. is the first wholly owned
Canadian Company in the Fujian province.
CONTACT: Rocky Mountain (Fuzhou) Drug Co. Ltd.
Brian A. Hodge, (86) 591-379-7969
rockymt@public.fz.fj.cn
www.RMGGInvestor.com
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