Message #27 From:
NewsBot Date: October 18, 2006 06:38:00 AM
CHHH News China Health Holding Announces the Chief Executive Officer Investing $300,000.00 in the Company
LAS VEGAS--(BUSINESS WIRE)--China Health Holding (OTCBB:CHHH), a development-stage company with the
goal of becoming a leading developer, manufacturer, marketer and
distributor in the global medical and pharmaceutical industry in China
and worldwide, announced today the Company’s
Board on October 12, 2006, has approved to issue 10,000,000 shares of
the Company’s common stock to Julianna Lu, the
Company’s Founder and Chief Executive Officer,
as consideration for the forgiveness of loans in the aggregate amount of
$300,000 previously advanced to the Company by Ms. Lu. As additional
consideration, the Company agreed to issue to Ms. Lu five year warrants
to purchase 10,000,000 shares of the Company’s
common stock, exercisable at a price of $0.10 and ten year warrants to
purchase 10,000,000 shares of the Company’s
common stock exercisable at a price of $0.20. The warrants have piggy
back registration rights with respect to the shares of common stock
issuable upon exercise of the warrants. The Company claims an exemption
from the registration requirements of the Securities Act of 1933, as
amended (the “Act”)
with respect to the foregoing, pursuant to Section 4(2) of the Act
and/or Regulation D promulgated thereunder. In 10 years, Julianna Lu’s
further warrants exercise will bring the Company for a total 3,800,000
USD cash investment.
Julianna Lu, the Founder/CEO, has substantially contributed to the
Company financially and creatively in past years, with her full
commitment/contribution/dedication to develop/advance the Company into a
successful global pharmaceutical corporation and to the Public
Shareholders, with the honorable goal for further improvement of The
World Health and The World Pharmaceutical Industry.
About China Health Holding
China Health Holding, Inc. is a developer, manufacturer and marketer for
natural medicinal products and pharmaceutical drug pipeline worldwide,
with an extensive knowledge and expertise in the field of Traditional
Chinese Medicine and China Pharmaceutical Industry.
CHHH's immediate goal is profitable penetration of the growing global
and China pharmaceutical industry and market. Also to seek and develop
and complete potential acquisition candidates with major pharmaceutical
companies in PR China and worldwide to secure a strong future and
powerful position in the global and PR China pharmaceutical industry.
Long-term plans include the development of a pharmaceutical drug
pipeline and technology based on the Company's access to the knowledge
of Traditional Chinese Medicine and PR China pharmaceutical industry.
CHHH is supported by two core, wholly
owned subsidiaries:
1. China Health World Pharmaceutical Corporation, which will develop,
manufacture and commercialize natural medications for epidemic diseases
and conditions related to mellitus, cardiovascular and cerebral-vascular
system dysfunctions, and neurological disorders.
2. China Health World Trade Corporation, which will support CHHH in the
areas of worldwide to develop China Health/CHHH’s
retain/franchise stores/infrastructure and worldwide branding,
multimedia marketing and multi-channel distribution to global customers
and markets.
Recent Developments and Acquisition
Progress:
1. The Company controls/owns exclusive worldwide ownership/rights for a
total of 134 proprietary natural herbal medicinal products/formulas as
Two Natural Herbal Medicinal Product lines: King of Herbs products and
Taoist Medicinal products. The Company is developing and execution for
further worldwide branding, multimedia marketing and multi-channel
distribution, and worldwide retail and franchise stores/infrastructure
to global customers and markets.
2. CHHH has executed a definitive acquisition agreement to acquire 60%
of Henan Furen Huaiqingtang Pharmaceuticals Co. Ltd.
3. CHHH has executed a definitive acquisition agreement to acquire 100%
of Shaanxi MeiChen Pharmaceuticals Co. Ltd.
4. CHHH recently entered into letters of intent to acquire 51% or more
of the following pharmaceutical companies in PR China:
i. Beijing Boran Pharmaceutical Co. Ltd.
ii. Shaanxi Wanan Pharmaceuticals Co. Ltd.
iii. Henan Tiankang Pharmaceuticals Co. Ltd.
CHHH believes that the completion of these acquisitions will enable it
to vertically integrate its operations from manufacturing, developing
and marketing Chinese herbal-based medicinal products, as well as a
pharmaceutical drug pipeline, to full distribution and marketing across
PR China, therefore substantially increasing profit margins.
Acquisitions should accelerate growth of revenues and earnings. A
strategic combination of assets, net income, an enhanced pharmaceutical
drug pipeline and technologies will accrete value to the Company and its
shareholders.
In addition, CHHH also recently signed a letter of intent with WangJing
Hospital and the WangJing Hospital of China Academy of Chinese Medical
Sciences, PR China, in order to develop the China International
University of Traditional Chinese Medicine and the University Hospital
for Traditional Chinese Medical Sciences.
¶ Safe Harbor
¶ To the extent that statements in the press release are not strictly
historical, including statements as to revenue projections, business
strategy, outlook, objectives, future milestones, plans, intentions,
goals, future financial conditions, future collaboration agreements, the
success of the Company's development, events conditioned on stockholder
or other approval, or otherwise as to future events, such statements are
forward-looking; all forward-looking statements, whether written or
oral, and whether made by or on behalf of the Company, are expressly
qualified by the cautionary statements and any other cautionary
statements, which may accompany the forward-looking statements, and are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. The forward-looking statements contained
in this release are subject to certain risks and uncertainties that
could cause actual results to differ materially from the statements
made. Other important factors that could cause actual results to differ
materially include the following: business conditions and the amount of
growth in the Company's industry and general economy; competitive
factors; ability to attract and retain personnel; the price of the
Company's stock; and the risk factors set forth from time to time in the
Company's SEC reports, including but not limited to its annual report on
Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on
Form 8-K. In addition, the company disclaims any obligation to update or
correct any forward-looking statements in all of the Company's press
releases to reflect events or circumstances after the date hereof.
