SHENZHEN, March 12, 2012 /PRNewswire-Asia/ - Global Pharm
Holdings Group, Inc. (OTCBB: GPHG) ("Global Pharm" or the
"Company"), a growing vertically integrated pharmaceutical company
engaged in the distribution of pharmaceutical-related products,
Traditional Chinese Medicine ("TCM") processing, and herbal
cultivation and sales in China
through its subsidiaries in Anhui,
Jilin, Guangdong and Shandong provinces, announced today that it
would discontinue the voluntary filing of current and periodic
reports with the U.S. Securities and Exchange Commission. As a
result, the trading of the securities of Global Pharm on the OTC
Bulletin Board will cease, although trading may continue in the OTC
Pink Market.
Yin Yunlu, Chairman and Chief Executive Officer of the Company
commented, "After careful consideration with our shareholders,
Board of Directors, management team and professional advisors, we
have decided to exit the U.S. equity market, reorganize our
corporate structure and pursue further financing. In light of the
relative illiquidity of our equity securities in the U.S. market,
and the lack of a near-term opportunity for public financing
through the U.S. capital markets, we believe this strategy is in
the best interests of our shareholders."
About Global Pharm
Global Pharm Holdings Group, Inc., a growing integrated
pharmaceutical company, is engaged in the distribution of
pharmaceutical-related products, Traditional Chinese Medicine (TCM)
processing, and herbal cultivation and sales in China. The Company focuses on building
regional distribution channels, as well as a local capillary sales
network with a high-margin product portfolio. Currently, its sales
network covers Shandong,
Jilin, Anhui and Guangdong provinces. Global Pharm seeks to
establish an integrated value chain in the pharmaceutical industry
through strategic acquisitions within the TCM production,
pharmaceutical distribution and retail sectors. For further
information, please visit the Company's corporate website at
http://www.globalpharmholdings.com.
Forward-looking Statements
Certain statements set forth in this press release contain or
may contain forward-looking statements and information that are
based upon beliefs of, and information currently available to, our
management as well as estimates and assumptions made by our
management. Such statements reflect the current view of our
management with respect to future events and are subject to risks,
uncertainties, assumptions and other factors as they relate to our
industry, our operations and results of operations, plans for
future facilities, capital-expenditure plans and any businesses
that we may acquire. Although we believe that the expectations
reflected in the forward-looking statements are reasonable, we
cannot guarantee future results, levels of activity, performance or
achievements. Except as required by applicable law, including the
U.S. federal securities laws, we do not intend to update any of the
forward-looking statements to conform them to actual results.
For Additional Information Contact
Global Pharm Holdings Group, Inc.
Ms. Susan Liu
Phone: +86-755-3693-9373
Email: susanliu@globalpharmholdings.com
SOURCE Global Pharm Holdings Group, Inc.