Major Distribution Agreements Signed by Rocky Mountain (Fuzhou) Drug Co. Ltd.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--May 3, 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 a major distribution agreement was signed in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. April 12, 2000 between Michael Shen Shen, in the Bible, place, perhaps close to Bethel, near which Samuel set up the stone Ebenezer. , President of Glusa Inc.("Glusa") and Brian Hodge President of Rocky Mountain (Fuzhou) Drug Co. Ltd. giving Rocky Mountain the exclusive right to distribute in China a total of 20 different kinds of healthy food products produced in the USA. Mr. Hodge stated this agreement satisfies a major need to enable Rocky Mountain to provide a broad product mix to its distribution network in China. Many of the company's distributors in China have requested this service. The Initial General Distribution Agreement with Glusa gives the Company exclusive rights for eight years and is renewable upon negotiation. The company has taken action to have the products approved by provincial and federal regulatory authorities in China. The Chinese company will obtain these rights to market Glusa's products. Glusa's president, Mr. Shen, commented that his company is currently establishing or has established distribution networks in South Korea, Taiwan, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Singapore and Thailand and has several such agreements in place or pending in Europe and the Middle East. He added, that in the future, as Asian markets grow, he may enter an agreement to have Rocky Mountain manufacture the goods under licence in China. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Mr. Hodge it will take nine to twelve months to gain the necessary product approvals in China. Once these approvals are received the company must buy 50,000 units of each product within the next six months and an additional 500,000 units of each over the following six-month period. Prior to departing for 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. to negotiate with Glusa Inc. Mr. Hodge and Mr. Jiang signed several more distribution agreements in China. On April 5, 2000 a distribution agreement was signed between Rocky Mountain and Mr. Lin Shun Shun In Chinese mythology, one of the three legendary emperors, along with Yao and Da Yu, of the golden age of antiquity (c. 23rd century BC), singled out by Confucius as models of integrity and virtue. Chang, President of Jiang Su Sun Chang Co. Ltd. in Wuxi in Jiangsu Province. Mr. Lin's company services 261 supermarkets in Wuxi and Suzhou. Under this agreement they will warehouse Rocky Mountain's goods and will let the company set up its own marketing office in their facilities. This office is being staffed by sales representatives transferred from Rocky Mountain's Fuzhou office. On April 6, 2000 the company opened in Quanzhou a separate sales office staffed by five sales representatives to service customers not covered not covered Health care adjective Referring to a procedure, test or other health service to which a policy holder or insurance beneficiary is not entitled under the terms of the policy or payment system–eg, Medicare. Cf Covered. by it's agreement with the Qi Long trading company in Quanzhou. On April 7, 2000 Mr. Jiang Shao Shu entered into agreement with the Sa Xin Drug Co. Ltd. in Xiamen. This company services 150 supermarkets in Xiamen. The company has opened a sales office in Xiamen staffed by two persons and expects to have it's products in 350 to 400 outlets in Xiamen, Zhangzhou, Longhai, and Zhangpu Cities by mid May. 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. 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 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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