SHANGHAI, China, Oct. 14 /Xinhua-PRNewswire-FirstCall/ -- China-Biotics, Inc. (OTC Bulletin Board: CHBT) ("China-Biotics", "the Company"), a leading Chinese firm specializing in the manufacture, research, development, marketing and distribution of probiotics products, today announced it has received approval to list its common stock on the Nasdaq Global Market.
China-Biotics expects to begin trading on the Nasdaq on October 23, 2008, until which time its common stocks will continue to trade on the Over the Counter Bulletin Board. The trading symbol for China-Biotics' common stock will remain "CHBT."
"We are extremely proud to be approved to list on the Nasdaq Global Market," said Mr. Jinan Song, China-Biotics' Chairman and Chief Executive Officer. "This upgrade to a prestigious senior exchange is a significant milestone for China-Biotics' growth as a public company. We believe Nasdaq is well suited for high-technology and high-growth companies like ours. With this milestone achieved, we hope to further enlarge our investor base and increase both our liquidity and visibility in the investment community."
About China-Biotics, Inc.
China-Biotics, Inc. ("China-Biotics," "the Company"), a leading manufacturer of biotechnology products and supplements, engages in the research, development, marketing and distribution of probiotics dietary supplements. Through its wholly owned subsidiary, Shanghai Shining Biotechnology Co., Ltd., the Company has operations in Shanghai. Its proprietary product portfolio contains live microbial nutritional supplements under the "Shining" brand. Currently, the products are sold OTC through large distributors to pharmacies and supermarkets in Shanghai, Jiangsu, and Zhejiang. China-Biotics plans to launch 300 Shining brand retail outlets in major cities in China. Currently, China-Biotics is strategically expanding its production capacity of probiotics to meet growing demand in the bulk additive market. For more information, please visit http://www.chn-biotics.com .
Safe Harbor Statement Under the Private Securities Litigation Reform
Act of 1995: Any statements set forth above that are not historical facts
are forward-looking statements that involve risks and uncertainties that
could cause actual results to differ materially from those in the
forward-looking statements. Such factors include, but are not limited to,
the Company's ability to market existing and new products, ability to
access to capital for expansion, and changes from anticipated levels of
sales, future national or regional economic and competitive conditions,
market acceptance of its retail store concept, changes in relationships
with customers, dependence on its flagship product profits and other
factors detailed from time to time in the Company's filings with the United
States Securities and Exchange Commission and other regulatory authorities.
The Company undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
For more information, please contact:
CCG Investor Relations
Crocker Coulson, President
Tel: +1-646-213-1915 (New York)
|SOURCE China-Biotics, Inc.|
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