Agreement Signed Between Rocky Mountain Ginseng, Inc.'s China Subsidiary and Wal-Mart China Ltd.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--March 31, 2000 Rocky Mountain Ginseng ginseng (jĭn`sĕng), common name for the Araliaceae, a family of tropical herbs, shrubs, and trees that are often prickly and sometimes grow as climbing forms. , 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 pop·u·lous adj. Containing many people or inhabitants; having a large population. [Middle English, from Latin popul 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 British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography , 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 Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. ginseng products developed in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . 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. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called 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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