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Niusule Biotech Corp. Formally Establishes a New Venture to Import and Sell Health Foods in the People's Republic of China
Date:3/10/2009

HANGZHOU, China and CARSON CITY, Nev., March 10 /PRNewswire-FirstCall/ -- Niusule Biotech Corp. (OTC Bulletin Board: NIUS) announces that its new Venture, Niusule Bioengineering (Hangzhou) Co., Ltd., has been formally established by obtaining the "Certificate of Approval for Establishment of Enterprises with Foreign Investment in the People's Republic of China" from Zhejiang Foreign Trade & Economic Cooperation Bureau on March 2, 2009 and the Business License from Hangzhou Industrial and Commerce on March 4, 2009.

The development of the Venture will continue by:

  • Submitting the application to Hangzhou Administration of Foreign Exchange for the Foreign Exchange Registration Certificate of Foreign-funded Enterprise of Niusule Bioengineering (Hangzhou) Co., Ltd. in March 2009.
  • Submitting the application to Zhejiang Food and Drug Administration for the approval of health food used in Zhejiang Province in April 2009.

Niusule Biotech Corp. will continue the development of its business plan by:

  • Signing production agreements with certain U.S. health food manufacturers in March 2009. We are currently assessing suppliers, products and quantities.
  • Executing the distribution agreement with Niusule Bioengineering (Hangzhou) Co., Ltd. in late March 2009, which we need to do in order to import and sell our products in China.

When Niusule Bioengineering (Hangzhou) Co., Ltd. is established and approved by government regulatory authorities, we plan to open 10 Niusule Health Food Stations in Zhejiang province to sell health food products, focusing on products imported from the U.S.

"This new venture signals our commitment to being a leading player in China's health food industry," said Chairman Mrs. Qinghua Hu of Niusule Biotech Corp. "We believe that China h
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SOURCE Niusule Biotech Corp.
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