Wake up, y'all. News is out. Maybe the stock will do something after all these months!
Please find following Rocky Mountain Ginseng, Inc.'s latest news release. If you do not wish to receive these in future, please advise by return e-mail and your name will be removed.
Thank you and best regards,
Annette Fakaro
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NEWS RELEASE
March 22, 1999
Rocky Mountain Ginseng, Inc. (OTCBB: RMGG) is pleased to announce it has completed all aspects of the purchase of Fuzhou Fujian Drugs Co. Ltd. in China. This includes:
The Share Purchase Agreement between the Fuzhou Fujian Drugs Co. Ltd. and R.M. Ginseng Canada Ltd. (the Canadian subsidiary of Rocky Mountain Ginseng, Inc.) was approved on March 15, 1999 by the Foreign Economic and Trade Committee of the Fuzhou People's Municipal Government.
Simultaneously, approval was given by the Ministry of Industrial and
Commercial Administration in Beijing to obtain a business license for the company to produce and market certain drugs in China.
On March 19, 1999 the Fujian Drug Control Bureau granted the company a
"Drug Producing Qualification Certificate". As well, the Fujian Hygiene Control Bureau has also issued a "Drug Producing Certificate" to the Company.
These approvals and licenses now give RMGG the right to independently
produce and market their drugs in China.
On March 22, 1999 the Company will commence construction of a new
production and administration facility in Fuzhou's popular Hong Shan
Industrial Park. When work is completed within the next 60 - 90 days, the facility will satisfy China's new Drug Production Standards enabling the Company to market products throughout the country and to export markets as well.
In Hong Shan the Company's expanded production base will be able to produce ginseng capsules and two new healthy food products unique to China. These products enjoyed wide acceptance in limited test markets held in Fuzhou and Shanghai.
Rocky Mountain Ginseng, Inc. and Biofarm Inc. are currently in dispute
regarding the "Memorandum of Understanding" dated April 3, 1998.
Meanwhile, RMGG will continue with the Company's business plan in China. Presently, RMGG is manufacturing the complete line of FF Drugs Co. products in the existing plant until the new GMP ("Good Manufacturing Practices") factory is operational.
RMGG is also pleased to announce the signing of a distribution agreement with Qiangzhou Xin Fu Lar Health Products Co. Ltd., a major wholesaler in Qiangzhou, an affluent industrial city located approximately 150 kilometers (95 miles) south of Fuzhou.
For further information and updates, please send us your e-mail address to rlbell@direct.ca.
The statements made in this news release may contain certain forward
looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the results achieved by the Company. |
