SHANGHAI, China, July 18 /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 applied for listing approval on the Nasdaq Global Market ("Nasdaq").
"This is an important milestone for China-Biotics, and we are committed to working with Nasdaq to fulfill all of its listing requirements," said Mr. Jinan Song, China-Biotics' Chairman and Chief Executive Officer. "Nasdaq is a prestigious senior exchange that is well suited for high-technology and high-growth companies such as China-Biotics that meet its stringent listing requirements. Nasdaq's complement of small-cap, rapidly growing companies will increase our visibility among investors who follow companies like ours, improving trading volume and liquidity. This should, in turn, attract new investors to our Company."
China-Biotics believes it satisfies all of the listing qualifications associated with this application. The application is subject to review by Nasdaq's Listing Qualifications Department for compliance with all Nasdaq Global Market requirements. The Company's common stock will continue to trade on the OTC Bulletin Board under its current symbol, CHBT, until the Company is notified of its acceptance. We hope to receive approval to list on Nasdaq within two to three months.
About China-Biotics, Inc.
Headquartered in Shanghai, China-Biotics, Inc. ("China-Biotics", "the Company") was founded in 1999 and is one of China's largest suppliers of probiotics. Probiotics are beneficial live bacteria used as dietary supplements and food additives to improve intestinal health and digestion. The Company's product portfolio contains live microbials made with proprietary technology. Currently, these products are sold over-the-counter under the "Shining" brand through large distributors to more than 1,000 pharmacies and 100 supermarkets in Shanghai, Jiangsu and Zhejiang. Shining is one of the most recognized brands in Shanghai. China-Biotics plans to expand its retail sales to other major cities in China and is launching 300 Shining brand logistic centers in these cities. There is a significant demand for probiotics for use in the bulk additive market, which is currently met by imports. China-Biotics is building a new plant that will increase its production capacity manyfold to capture this 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 capital for expansion, and changes from anticipated levels of sales,
future national or regional economic and competitive conditions, 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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