Navigation Links
China Pharma Holdings, Inc. Closes $10 Million Financing
Date:5/30/2008

HAIKOU CITY, China, May 30 /Xinhua-PRNewswire-FirstCall/ -- China Pharma Holdings, Inc. ("China Pharma" or "Company") (OTC Bulletin Board: CPHI) which develops, manufactures, and markets generic and branded bio-pharmaceutical products in China, today announced that on May 30, 2008 it closed its recently announced financing, issuing five million shares of common stock at a purchase price of $2.00 per share and three-year warrants to purchase an aggregate of 1.25 million shares of the Company's common stock at an exercise price of $2.80 per share.

Net proceeds from the offering of approximately $9.3 million are expected to be used for expansion of the Company's existing product line, sales and marketing, and general working capital purposes.

Ms. Li, President and CEO of China Pharma commented, "We are very pleased to have completed this financing. The new capital should enable us to continue our revenue and earnings momentum by executing on currently available opportunities. The net proceeds will be used for the increasing of production capacity, promoting sales, further expanding our distribution network, and developing new drugs which are in various stages of the SFDA approval process. Additionally, we are actively working on the preparation of upgrading to a national exchange listing. Submitting our application is a high priority and our goal is to achieve a listing during the second half of calendar 2008."

Roth Capital Partners, LLC served as the sole placement agent in connection with the private placement.

For more detailed information on the financing referred to in this release, reference is made to the Company's latest Report on Form 8-K and related exhibits thereto being filed with the Securities and Exchange Commission on the May 28, 2008.

About China Pharma Holdings, Inc.

China Pharma Holdings, Inc. develops, manufactures, and markets generic and brand bio-pharmaceutical products in China that treat a wide range of conditions, including infections, hepatitis, cardiovascular and CNS diseases, and other prevailing diseases. Helpson Bio-pharmaceutical Co., Ltd (Helpson), a specialty pharmaceutical company headquartered in Haikou City, Hainan province in China, is a wholly owned subsidiary of China Pharma Holdings. For more information about China Pharma Holdings, Inc., please visit http://www.chinapharmaholdings.com .

Safe Harbor Statement:

Certain statements in this press release and oral statements made by China Pharma on its conference call in relation to this release, constitute forward- looking statements for purposes of the safe harbor provisions 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, which may include, but are not limited to, such factors as unanticipated changes in product demand, increased competition, failure to obtain or maintain intellectual property protection, downturns in the Chinese economy, uncompetitive levels of research and development, failure to obtain regulatory approvals, and other information detailed from time to time in the Company's filings and future filings with the United States Securities and Exchange Commission. The forward-looking statements made herein speak only as of the date of this press release and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.

For more information, please contact:

China Pharma Holdings, Inc.

Sophia Yu

Tel: +86-898-6681-1730

Email: hps@chinapharmaholdings.com

HC International, Inc.

Alan Sheinwald

Tel: +1-914-669-0222

Email: Alan.sheinwald@hcinternational.net


'/>"/>
SOURCE China Pharma Holdings, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. China Kangtai Cactus Biotech Files 2nd Quarter 2007 10QSB and Announces Unaudited Quarterly Results
2. China Biopharmaceuticals Holdings Announces Second Quarter 2007 Financial Results
3. China Medical Technologies to Participate in the Morgan Stanleys 2007 China Medical Corporate Day
4. China-Biotics, Inc. Signs Intention Agreement to Supply Probiotics to Bright Dairy & Food Co., Ltd.
5. China Technology Announces New Chief Financial Officer
6. China Medical Technologies Reports First Quarter Financial Results
7. China Medical Technologies to Participate in Credit Suisses 2007 Asian Technology Conference
8. China Technology Announces Entry to the Solar Energy Sector
9. China Sky One Medical Receives $1.5 Million Government Grant to Further Develop Six New Cancer Products
10. Kiwa Bio-Tech Named Recommended Brand by the China Green Food Association
11. China Kangtai Cactus Biotech, Inc. Announces Plans for New Product Launch
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/21/2017)... ... May 20, 2017 , ... CNSDose ... lengthy trial and error process by finding the right antidepressant faster. CNSDose ... the doctor-patient relationship through a personalized approach to treatment. , A ...
(Date:5/19/2017)... ... 2017 , ... The University City Science Center is seeking ... commercialization, and who are affiliated with the 21 partner academic and research institutions ... in its tenth round, is the first multi-institutional proof-of-concept program for the life ...
(Date:5/18/2017)... (PRWEB) , ... May 18, 2017 , ... ... activities. The Tapas Cooking Challenge is a two-hour team-building package designed for ... menu created by Chef Jodi Abel, which include items, such as Blackened Shrimp ...
(Date:5/18/2017)... ... 17, 2017 , ... NDA Partners Chairman Carl Peck, MD , announced ... Laboratories and President of Pharmaceutical Development Business Unit of Cardinal Health, has joined the ... Health, he was former Chief Operating Officer at Anaborex, Senior VP and General Manager ...
Breaking Biology Technology:
(Date:3/24/2017)... 24, 2017 Research and Markets has announced ... Analysis & Trends - Industry Forecast to 2025" report to ... The ... a CAGR of around 15.1% over the next decade to reach ... analyzes the market estimates and forecasts for all the given segments ...
(Date:3/22/2017)... , March 21, 2017   Neurotechnology , ... recognition technologies, today announced the release of the ... which provides improved facial recognition using up to ... a single computer. The new version uses deep ... accuracy, and it utilizes a Graphing Processing Unit ...
(Date:3/20/2017)... , March 20, 2017 At this year,s ... -based biometrics manufacturer DERMALOG. The Chancellor came to the DERMALOG stand ... is this year,s CeBIT partner country. At the largest German biometrics ... in use: fingerprint, face and iris recognition as well as DERMALOGĀ“s multi-biometrics ... ...
Breaking Biology News(10 mins):