HARBIN, China, July 27 /PRNewswire-Asia/ -- Nutrastar International, Inc. (OTC Bulletin Board: NUIN; "Nutrastar" or the "Company"), a leading nutraceutical company which produces and distributes Chinese Golden Grass ("Cordyceps Militaris"), today announced that that it signed a one year product purchase agreement with Century Brighton Holdings Limited on June 18th, 2010, valued at approximately RMB 10 million (US $1.47 Million).
Under the agreement, Century Brighton Holdings will sell small packages of Golden Grass as an agent for Nutrastar International. The initial batch of goods, purchased by Century in July 2010, amounts to RMB 2 Million (US $0.3 Million). The products will be distributed by Century Brighton through its sales channels to private, high-end entertainment and leisure establishments in Hong Kong and Beijing.
Century Brighton was founded in Hong Kong in 2002 and mainly operates as the sales agent or distributor for high-end ginseng, tea and wine in China and Hong Kong. This new purchase agreement will increase Nutrastar's geographical footprints in the Hong Kong and Beijing market. Furthermore, the availability of Golden Grass in the high-end entertainment and leisure establishments will further promote the product's brand awareness among the middle to upper class consumers and further boost Nutrastar's image as a leading supplier of Golden Grass to the Chinese market.
Ms. Lianyun Han, Founder and Chief Executive Officer of Nutrastar commented, "We are very excited to add Century Brighton to our dedicated list of purchasing agents. We anticipate that through their vast network of distributors and customers, we will continue to expand our sales and geographical footprint as a leading supplier of Golden Grass to the Chinese marketplace."
About Nutrastar International, Inc.
Nutrastar International, Inc. is a China based nutraceutical company which produces and distributes Chinese Golden Grass ("Cordyceps Militaris"), organic and specialty food products in China. The Company's primary product is dry engineered Chinese Golden Grass, which is one of the most highly regarded herbal nutrients in Chinese culture. The Company believes it is the largest manufacturer of engineered Chinese Golden Grass in China, ranked by volume, according to China Market Monitoring Center (CMMC), accounting for 19% market share in China. The Company is headquartered in Harbin, capital of Heilongjiang province, with 302 employees, 21 in R&D, and 132 in sales and marketing. The products of Nutrastar are sold throughout China via a distribution network that covers more than 10 provinces. More information may be found at http://www.nutrastarintl.com or e-mail: ir@nutrastarintl.com .
Safe Harbor Statement
This news release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the Company with the Securities and Exchange Commission. All such 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. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under the securities laws, the Company does not assume a duty to update any forward-looking statements to reflect events or circumstances after the date hereof.
For more information, please contact:
Robert Tick
CFO
Nutrastar International, Inc.
Tel: +1-408-306-9881
Email: roberttick@nutrastarintl.com
Howard Gostfrand
American Capital Ventures
Tel: +1-305-918-7000
Email: info@amcapventures.com
