NEW YORK, Nov. 15, 2004 (PRIMEZONE) -- Hubei Pharmaceutical Group Ltd. (OTCBB:HBEI) announced today that the Board of Directors and shareholders have acted to approve an amendment to the articles of the corporation to change its name. This is being done to more closely reflect the business and diversification plans of the company. Under its new name, Amersin Life Sciences Corporation, the company will continue to expand upon its interests in China to cover all facets of pharmaceutical life sciences from raw materials through dosage form production, distribution and, in some specialized domestic markets, dispensing.
"We will continue to build investor equity through strategic acquisition and vertical integration," said the company's president, Reid Li who went on to say "The key to emerging as one of the leading American corporations with interests in the Chinese pharmaceuticals sector is the American-Sino joint venture structures we employ to implement acquisition. They provide for continuity of successful management and business practices, while encouraging and providing opportunities to mentor western styled entrepreneurship. Our success lies in our ability to strategically identify acquisition candidates and in the synergy with which we integrate them. We are focused on profitability and delivering to our shareholders a tightly integrated set of holdings with domestic and export revenue streams."
The company's shares trade on the Over the Counter exchange in the United States under the trading symbol HBEI. The name change will take effect once SEC and regulatory requirements are complete. At that time a new CUSIP number and trading symbol will be assigned. It is anticipated that the process will be complete within 30 days. There is no need for shareholders to take any action. Share certificates bearing the Hubei name will be equivalent to, and will be exchanged for, share certificates bearing the Amersin name as they are encountered by the transfer agent.
Concurrent with the name change, and supported by our recent shift to profitability, we will work to broaden investor awareness worldwide. The company expects to achieve and report other significant milestones in the near future.
Legal Notice: This press release may contain forward-looking statements, particularly as related to the business plans of the company, that are, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, subject to the safe harbor created by these sections. Actual results may differ materially from the company's expectations and estimates.