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"This is an important milestone for China-Biotics, and we are committed toworking with Nasdaq to fulfill all of its listing requirements," said Mr.Jinan Song, China-Biotics' Chairman and Chief Executive Officer. "Nasdaq is aprestigious senior exchange that is well suited for high-technology andhigh-growth companies such as China-Biotics that meet its stringent listingrequirements. Nasdaq's complement of small-cap, rapidly growing companies willincrease our visibility among investors who follow companies like ours,improving trading volume and liquidity. This should, in turn, attract newinvestors to our Company."
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China-Biotics believes it satisfies all of the listing qualificationsassociated with this application. The application is subject to review byNasdaq's Listing Qualifications Department for compliance with all NasdaqGlobal Market requirements. The Company's common stock will continue to tradeon the OTC Bulletin Board under its current symbol, CHBT, until the Company isnotified of its acceptance. We hope to receive approval to list on Nasdaqwithin two to three months.
About China-Biotics, Inc.
Headquartered in Shanghai, China-Biotics, Inc. ("China-Biotics", "theCompany") was founded in 1999 and is one of China's largest suppliers ofprobiotics. Probiotics are beneficial live bacteria used as dietarysupplements and food additives to improve intestinal health and digestion. TheCompany's product portfolio contains live microbials made with proprietarytechnology. Currently, these products are sold over-the-counter under the"Shining" brand through large distributors to more than 1,000 pharmacies and100 supermarkets in Shanghai, Jiangsu and Zhejiang. Shining is one of the mostrecognized brands in Shanghai. China-Biotics plans to expand its retail salesto other major cities in China and is launching 300 Shining brand logisticcenters in these cities. There is a significant demand for probiotics for usein the bulk additive market, which is currently met by imports. China-Bioticsis building a new plant that will increase its production capacity manyfold tocapture this market. For more information, please visithttp://www.chn-biotics.com .
Safe Harbor Statement Under the Private Securities Litigation Reform Actof 1995: Any statements set forth above that are not historical facts areforward-looking statements that involve risks and uncertainties that couldcause actual results to differ materially from those in the forward-lookingstatements. Such factors include, but are not limited to, the Company'sability to market existing and new products, ability to access capital forexpansion, and changes from anticipated levels of sales, future national orregional economic and competitive conditions, changes in relationships withcustomers, dependence on its flagship product profits and other factorsdetailed from time to time in the Company's filings with the United StatesSecurities and Exchange Commission and other regulatory authorities. TheCompany undertakes no obligation to publicly update or revise anyforward-looking statements, whether as a result of new information, futureevents or otherwise.For more information, please contact: CCG Investor Relations Crocker Coulson, President Tel: +1-646-213-1915 (New York) Email: [email protected] Web: http://www.ccgir.com
SOURCE China-Biotics, Inc.
