PEMBROKE PINES, Fla., May 12, 2005 (PRIMEZONE) -- Chaichem Holdings, Inc. (Pink Sheets:CIMH), a biotech development company, announced that it has changed its name to Excelsior Biotechnologies due to confusion that has been resulting from a Canadian Company with a similar name. Information on the Company can now be found at www.ExcelsiorBio.com and the company will begin trading under a new ticker symbol effective Monday, May 16th.
"There were some issues regarding use of the similar name and we just wanted to put them to rest," remarked Chaichem Vice President Dean Ward. "On the business front, we are exploring some potential investment opportunities at the moment and will keep shareholders apprised as developments progress."
The Company
Chaichem Holdings, Inc. is a biotech development company, publicly traded under the ticker symbol CIMH. Chaichem is pursuing synergistic, value-added opportunities in the biotech field with the potential for achieving high-growth returns for our investors.
This news release contains forward-looking statements regarding Chaichem's business strategies and future plans of operations. Forward-looking statements involve known and unknown risk and uncertainties. The company's risks and uncertainties include: intense price competition, economic, political and regulatory uncertainties, the need to raise additional capital for growth and expansion and its reliance on the internet as a means for promoting the software it sublicenses. The forward-looking statements contained in this news release speak only as of the date hereof and Chaichem disclaims any obligation to provide public updates, revisions or amendments to any forward-looking statements made herein to reflect changes in Chaichem's expectations or future events.