Two more CHCL items today (second and third ones so far this morning, all on widely-different matters -- these are on plans for a China pharmaceutical deal, and a joint-venture with Hitsgalore)...
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1) Wednesday April 5, 11:02 am Eastern Time
China Continental in Final Stage of Discussions to Acquire Stake In Pharmaceutical Company in China
HONG KONG, April 5 /PRNewswire/ -- China Continental, Inc. (OTC Bulletin Board: CHCL - news) announced today that it is in the final stage of discussions to acquire a stake in the largest pharmaceutical company in China. The pharmaceutical company produces, markets and distributes both Western medicines and traditional Chinese medicines.
The pharmaceutical company currently has an established marketing network throughout China with 36 branch offices in all the provinces of China excluding Tibet. Its products are distributed in over 3,000 hospitals and 20,000 drug stores.
The Company believes that more details will be provided over the next two days.
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2) Wednesday April 5, 10:22 am Eastern Time
China Continental Explores Joint Venture in Asia with Hitsgalore.com, Inc.
HONG KONG, April 5 /PRNewswire/ --
China Continental, Inc. (OTC Bulletin Board: CHCL - news) announced today that it is in negotiations with the US-based Hitsgalore.com, Inc. to form a joint venture company, Hitsgalore.com Asia. The joint venture will allow both partners access to the whole of Asia that represents future growth with an opportunity to expand and establish market dominance in many areas of Internet technology.
``Our earlier initiatives to acquire a stake in Hitsgalore.com did not materialize. Nevertheless, both our companies believe that a joint venture will be the best approach for us to immediately capitalize on and gain access to the whole of Asia as the 'Technology Gap' is beginning to close quickly,' commented Harry H. H. Ho, Chairman of China Continental, Inc.
Hitsgalore.com is a profitable US-based business-to-business Internet company. It began its beta operations in August 1998 and launched its Web site in November 1998. The company provides searchable databases for businesses to bring people to their Internet Web sites. Revenue of the Company is derived from the sales of sponsorships, keyword bid and rank rights, audio banners, advertising and local city editions.
About China Continental Inc.
China Continental, Inc., traded on the OTC Bulletin Board market since 1995, is a holding company with over ten years of experience in developing turnkey businesses. Core activities include supplying manufacturing technology on a turnkey basis, high technology manufacturing techniques in primary industries, and developing and providing technologies in agricultural genetics and farming. The Company's agricultural genetics and farming activities are centralized in the Inner Mongolia Province of China, covering an area of 406 square kilometers to commercialize its genetic techniques in breeding as well as propagating superior livestock and products in its own Research and Development Institute. |
