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China Biologic Products Enters Into Private Placement Agreements to Raise $9.6 Million
Date:6/8/2009

TAIAN CITY, China, June 8 /PRNewswire-Asia-FirstCall/ -- China Biologic Products, Inc. (OTC Bulletin Board: CBPO) ("China Biologic" or the "Company"), one of the leading plasma-based pharmaceutical companies in the People's Republic of China ("PRC"), today announced that the Company has entered into a securities purchase agreement with certain accredited investors led by Essence International Investment Limited, pursuant to which the Company will issue 3.8% senior secured convertible notes due 2011 (the "Notes"), in the aggregate principal amount $9,554,140. The Notes are convertible into shares of China Biologic's common stock at a conversion price of $4.00 per share. Along with the Notes, the Company issued warrants to purchase up to 1,194,268 shares of the Company's common stock at a price of $4.80 per share. The Company intends to use the proceeds to pay part of the purchase price for the interests it recently acquired in Xi'an Huitian Blood Products Co., Ltd. and Chongqing Dalin Biologic Technologies Co., Ltd. and for working capital and general corporate purposes.

"This private placement financing provides us with sufficient working capital as we integrate our two recent acquisitions into our existing operations," said Mr. Chao Ming Zhao, CEO of China Biologic Products. "Going forward, we anticipate that the cash flows generated by these acquisitions will provide a solid financial basis for our future growth. Furthermore, we believe that our new investors are highly experienced in the health care industry, will provide us with valuable insight as we increase the scale of our business."

The securities issued in this private placement have not been registered under the United States Securities Act of 1933, as amended, or the securities laws of any other jurisdiction. Accordingly, these securities may not be sold by investors in the United States, except pursuant to an effective registration stateme
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SOURCE China Biologic Products, Inc.
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