PRINCETON, NJ., February 21, 2012 /PRNewswire-Asia/ -- China Health Resource, Inc. (OTCBB: CHRI News), today has issued a letter of intent to acquire up to 100% of New Jersey based Herborium Group Inc (OTC PINKSHEETS: HBRM), a Botanical Therapeutics® company quoted under the symbol HBRM.
"This action is a result of careful analysis of the strategy to capitalize on the need for urgent solutions in healthcare in the USA, China and globally. With healthcare costs rising and pervasive economic pressures, the need for lower cost and more effective solutions has reached critical levels. Competencies represented by Herborium will enable CHRI to bring its high quality, cost-effective and safe solutions premised on TCM to the US markets swiftly and efficiently," says Steve Weiss, Director of Strategic Acquisitions and Financial Marketing.
Steven Weiss, as CHRI's newly appointed Director of Strategic Acquisition and Financial Marketing says, "This potential acquisition would achieve the very first part of our goal to incorporate a strong professionally managed team to expand CHRI presence into the USA. CHRI is negotiating to purchase of a company here in my home State of New Jersey and that move will bring significant value for shareholders and a platform for bringing jobs to New Jersey which has lagged behind the rest of the nation in the creation of new jobs. This transaction will create a domestic division for China Health Care helping our economy with much needed jobs. This is the first step in building a domestic presence for CHRI upon which we will build through continued acquisitions."
CHRI and Herborium share a common vision focused on the highest quality and value in the industry. "CHRI built its franchise through the successful standardization of Dahurian Angelica Root (DAR) for the pharmaceutical industry and has expanded into other products utilizing the same superior quality standards. CHRI is the leader in China for DAR as the only provider of GAP quality DAR in the People's Republic of China under the registered Trademark Chuan Baizhi™. Herborium Group can greatly assist CHRI with expansion of marketing know-how as well as sales and distribution into the USA. As CHRI implements its plans to increase its product line, Herborium will add significant experience in Botanical Therapeutics® (Registered Trademark of Herborium) including the regulatory process in the USA, UK and China for our type of unique and proprietary products," says Jiayin Wang, Chairman and CEO of CHRI.
Wang adds, "CHRI has presently significant operations in China through its subsidiary Suining Yinfa DAR Industrial Co, Ltd (Yinfa) and now the company plans to expand its operations with increased sales and market in the USA and where ever global demand provides a clear need for CHRI New Health solutions."
"With CHRI, we have research abilities to develop proven and proprietary healthcare products so Herborium with the experience, vision and understanding of the botanical medicine industry, is a good fit for our expansion plans," says Steve Weiss.
Jiayin Wang Chairman and CEO of CHRI says, "We are optimistic that we will be able to swiftly conclude a definitive agreement with Herborium and believe their new Botanical Therapeutics® are ones in which we can invest and bring to expanded markets. Founders and executive team of Herborium are experienced, professional and the Herborium vision matches ours. The conclusion of this agreement will open doors for our TCM products to be distributed worldwide combined with the considerable growth of our operations in China. We believe this transaction will create significant shareholder value and look forward to concluding negotiations quickly based upon the understandings outlined in our Letter of intent."
About CHRI
China Health Resource, Inc. is a producer, distributor, and research developer of raw and pharmaceutical TCM products engaged in the development, manufacturing, processing, marketing and sale of raw and pharmaceutical TCM products including Dahurian Angelica Root (DAR) and Rhizoma Gastrodiae and is the only the provider of GAP quality DAR in the People's Republic of China under the registered Trademark Chuan Baizhi™. DAR, which is also known as "Bai Zhi" in Mandarin Chinese, is an herb that is employed as an ingredient in medicine, cosmetics and food, as well as used in TCM for the treatment of pain, swelling and pustule. The Company's DAR-related products include the Bailing Capsule, Yisheng Capsule, Kimchee-Mate and Fragrant Bag, all of which are sold through regional distributors. The Company was founded in 2001 and is based in Suining, Sichuan Province with functional operations in the New Jersey and St Louis, Missouri USA.
For more information visit www.chinahealthresource.com.
Certain statements in this document regarding financial matters, other than historical facts, and statements of our expectations, intentions, plans and beliefs, constitute "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, that are subject to certain events, risks and uncertainties that may be outside our control. The words "believe", "expect", "anticipate", "optimistic", "intend", "will", and similar expressions identify forward-looking statements. The company intends that such proclamations about future expectations, including future revenues and earnings, future business expansion plans, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results. These and other risks and uncertainties related to our business are described in greater detail in our filings with the Commission. The foregoing information should be read in conjunction with these filings. We disclaim any intention or obligation to update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made.
