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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

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 has witnessed significant economic growth during recent years and that more people have attained the means and desire to have a healthy lifestyle. We are confident in our bright future and welcome qualified companies to cooperate with us."

About Niusule Biotech Corp.

Niusule Biotech Corp, through its wholly-owned subsidiary, Niusule Bioengineering (Hangzhou) Co., Ltd., plans to sell in China, various health food and related products some of which it intends to import from the U.S.

Safe Harbor Statement

The statements contained herein that are not historical facts are 'forward-looking statements' within the meaning of Section 21E of the Securities and Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as 'believes,' 'expects,' 'may,' 'will,' 'should,' or 'anticipates,' 'expect' or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In particular, our statements regarding the potential growth of the markets or forecasting financial results are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including but not limited to, general economic conditions and regulatory developments, not within our control. The factors discussed herein and expressed from time to time in our filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed or implied by such statements. The forward-looking statements are made only as of the date of this filing, and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

SOURCE Niusule Biotech Corp.
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