Message #1 From:
NewsBot Date: February 16, 2008 09:05:48 PM
Huifeng Bio-Pharmaceutical (HFGB) Closes Two Million Convertible Debt Financing
Huifeng Bio-Pharmaceutical Technology, Inc.
(OTCBB: HFGB), a leading developer and producer of plant extracts and
pharmaceutical raw materials for use in pharmaceutical, nutraceutical and
food production, is pleased to announce that it has successfully closed a
two million dollar ($2,000,000) convertible debt financing. The debt is
convertible into shares of common stock at $1.00 per share and the
Company's use of proceeds is to fund acquisitions of synergistic companies
within the Shaanxi Province, China. Primary Capital LLC acted as the sole
placement agent for this transaction.
For more detailed information on this transaction, investors should refer
to Huifeng's Current Report on Form 8-K and related exhibits filed with the
Securities and Exchange Commission on Monday, December 31, 2007.
The convertible debt issued in the private placement has not been
registered under the Securities Act of 1933, as amended, and may not be
subsequently offered or sold by the investors in the United States, except
pursuant to an effective registration statement or an applicable exemption
from the registration requirements. Huifeng has agreed to file a
registration statement covering the resale by the investors of the common
stock underlying the notes issued in the private placement.
This press release does not constitute an offer to sell or the solicitation
of an offer to buy any security and shall not constitute an offer,
solicitation or sale of any securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction.
About Huifeng Bio-Pharmaceutical Technology, Inc. (HFGB)
Huifeng Bio-Pharmaceutical Technology, Inc., located in Xi'an, People's
Republic of China, develops and produces plant extracts and pharmaceutical
raw materials for use in pharmaceutical, nutraceutical and food production.
It is the leading Chinese producer of rutin and related plant-derived
chemicals in a class called flavonoids, with medicinal and other beneficial
properties. Founded in 2002, Huifeng uses proprietary patented processes to
extract rutin more efficiently than traditional extraction techniques. The
Company is diversifying its product lines through internal development,
acquisition and cooperation with scientific research organizations.
http://www.hfgb.cn/
Contact:
Dan Carlson
Primary Capital LLC
Email: Email Contact
