To: Steven Angelil who wrote (15156 ) 5/6/1998 3:28:00 PM From: Big Dog Respond to of 34592
More info on RMGG. This market is huge. BIG DOG World Ginseng Market Estimated at 3 Billion Dollars BusinessWire, Wednesday, November 19, 1997 at 14:20 BURNABY, British Columbia--(BUSINESS WIRE)--Nov. 18, 1997--China consumes over 4 million pounds of American Ginseng annually and favors it over all other ginseng. The Chinese ginseng market has an estimated annual growth rate of 10%. Recently China's largest newspaper, The Peoples Daily, reported an annual shortfall of 1000 to 2000 tonnes of ginseng in China. Does this present a window of opportunity? One company believes it does! Rocky Mountain Ginseng, Inc. a Colorado company with offices in Shanghai and Fuzhou, China, is making their entry into the ginseng market with the company's exclusive value added ginseng products. For centuries ginseng root has been the cornerstone of the Chinese traditional herbal medicine. Panax Quinquefoliun, better know as American Ginseng, is a native plant to North America and is the favored ginseng in China. Fuzhou Rocky Mountain American Ginseng Co. became a registered Chinese company in April of 1997 with exclusive trade mark rights to their Rocky Mountain Logo in China. The purchase of Fuzhou Fujiang Drugs Co. Ltd. by RMGG will allow the company to import, manufacture, and distribute their value added Ginseng products throughout China. It is important to note that this is not a joint venture and that RMGG has avoided all offers to joint venture. The purchase will give RMGG 100% ownership of Fuzhou Fujiang Drugs Co. Ltd., and all the necessary permits required by the Drug Administration Law of China. The company is presently distributing ginseng products in 10 major economic cities with an area population in excess of 225 million people. The presence of RMGG in China will enable Chinese pharmaceutical companies to purchase ginseng root directly from the American source, eliminating the problems encountered with Hong Kong traders. Rocky estimates that it will sell 70 tonnes of ginseng to China in 1999 along with its value added ginseng products. The company is preparing a $100,000 container shipment of value added products and ginseng root for shipment to Shanghai to be distributed by a large Chinese trading company. RMGG is also negotiating the supply of American ginseng to several hospitals and pharmaceutical companies in China. RMGG shipped its first order to the Philippines in July and is presently negotiating with other Asians countries. Pharmaceutical registration of the company's Gold Root ginseng products with various government departments is currently underway in over 15 European countries, directed by Dr. De Smet of Rocky Mountain's Geneva office. Shipments of product to Eastern European countries are expected in November of 1997 followed by deliveries to France, Italy and Belgium in early 1998. European consumers are accustomed to herbal remedies and organic food products and the concept of 100% natural American ginseng products served directly from Canadian farms is very appealing. Latvia, Estonia, Romania and the UK have recently completed registration. The initial order for the UK has been received for January delivery. The company expects to announce three further initial product orders this month from Europe. RMGG's first order to Bangladesh will be shipped upon completion of the bank letter of credit. The company projects revenues of up to $1.7 million from Europe in 1998 and revenues of $6 to $9 million in 1999 in China from the sale of ginseng root and value added ginseng products. All figures are expressed in US dollars. CONTACT: Rocky Mountain Ginseng Inc. Robert L. Bell, 604/420-0095 rlbell@direct.ca