Shanghai, March 26, 2007 - Sunwin International Nutraceuticals, Inc., a leader in the production and distribution of Chinese herbs, veterinary medicines and one of the world's leading producers of all natural, zero calorie Stevia in China, announced today that it completed a $4.125 million private placement of common stock at $0.42 per share.
The purchasers were issued a warrant to purchase an additional share of common stock at $0.65 for each common share issued in the offering. Sunwin intends to use the proceeds to expand its marketing efforts worldwide, including the Company's recently launched subsidiary in the U.S. for the sale of its proprietary blend of Stevia, branded as "Only Sweet." Management believes this capital infusion will significantly enhance the Company's ability to deliver its products and capitalize on growing worldwide demand.
Laiwang Zhang, President and Chairman of Sunwin International Nutraceuticals, commented "As we expand our sales into the U.S. and other foreign markets, this infusion of capital will enable our Company to rapidly deploy our resources into those markets where growth opportunities are most robust. We have significantly enhanced production capacity in several areas of our business and we believe that our company is now properly positioned to fully exploit our marketing opportunities."