China Health Holding CHHH), a developer, marketer
and manufacturer of natural herbal supplement products based on
traditional Chinese medicine, announced today that the Company entered
into a Letter of Intent with Henan Tiankang Pharmaceuticals Ltd. (PR
China) for the proposed acquisition by the Company of 51% or more of
Henan Tiankang Pharmaceuticals Ltd. Pursuant to the letter of intent,
the parties have expressed their intent and support for the
cooperation and accomplishment of the acquisition of Henan
Tiankang Pharmaceuticals Ltd. by the Company. Further, Henan Tiankang
Pharmaceuticals Ltd. has agreed to offer the Company with first
refusal rights and legal exclusive rights for further acquisition of
51% or more of Henan Tiankang Pharmaceuticals Ltd. in the next 9
months from the date of signed Letter of Intent. The completion of the
acquisition is subject to the negotiation and execution of a
definitive acquisition agreement, as well as to the completion of full
legal and financial due diligence, including the determination of the
valuation of Henan Tiankang Pharmaceuticals Ltd., and the completion
and delivery of audited financial statements of Henan Tiankang
Pharmaceuticals Ltd.
The acquisition contemplated by the Letter of Intent with Henan
Tiankang Pharmaceuticals Ltd. is part of the Company's updated growth
strategy. Management believes that its strategy of pursuing the
strategic combination of assets and net income and unique enhanced
natural medicinal products and technologies will accrete value to
shareholders. Management also believes that its growth strategy will
assist the company in securing a strong future and powerful position
in the global natural medicinal industry and pharmaceutical industry.
About Henan Tiankang Pharmaceuticals Ltd.
Henan Tiankang Pharmaceuticals Ltd., which was established under
the laws of the Peoples Republic of China and is based in Henan,
China, is a pharmaceutical manufacturer and research and development
company that has been GMP certified (in 2004) by the Peoples Republic
of China State Drug Administrative Agency. Henan Tiankang
Pharmaceuticals Ltd. was organized in 2002 following the restructuring
of Henan XinYuan Pharmaceuticals, which had 40 years of operating
history and accomplishments in the Peoples Republic of China. Henan
Tiankang Pharmaceuticals Ltd. also acquired Henan XinLuei
Pharmaceuticals (formerly known as Henan Guishanshencao
Pharmaceuticals) in 2005.
About China Health Holding, Inc.
China Health Holding, Inc., incorporated in 2002, is a developer,
marketer and manufacturer of Innovative Enhanced Traditional Chinese
Medicinal herbal supplement product lines. The Company's product lines
also include dietary food supplements that are helpful in
strengthening the immune system and cardio-cerebral vascular function
as well as promoting overall physical and mental health.
The Company plans to introduce a line of natural skin care and
cosmetic products as well as to develop new products based on its
knowledge of traditional Chinese medical practice. Please visit China
Health Holding, Inc.'s website www.chinahealthholding.com for Company
Profile details.
Safe Harbor
To the extent that statements in the press releases 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 the Company's press
releases to reflect events or circumstances after the date hereof.
KEYWORD: ASIA PACIFIC NORTH AMERICA CANADA CHINA
INDUSTRY KEYWORD: RETAIL FOOD/BEVERAGE MERGER/ACQUISITION
SOURCE: China Health Holding
CONTACT INFORMATION:
China Health Holding, Inc. (USA and Beijing, PR China)
Julianna Lu, 778-893-8909
Fax: 604-601-2078
www.chinahealthholding.com
info@chinahealthholding.com
or
James H. Simpson, 604-608-6788
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