PRINCETON, NJ., Feb. 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.
SOURCE China Health Resource, Inc.
