Niusule Biotech Corp. ("Niusule" or the "Company"), a leading U.S.-based biotech company focused on developing and selling nutritional products for children, today announced that the Company's recently launched Gummy Bear products are growing in popularity among Chinese children. The Company has entered into a two-year distribution contract with Hangzhou Rong Sen Food Co., Ltd ("Rong Sen"), a leading distributor in Zhejiang Province, China.
Rong Sen will distribute Niusules's Gummy Bears and PlantFusion protein products in Century Lianhua Supermarket, Carrefour, Trust Mart and CRV (China Resources Vanguard) Mart in Zhejiang Province. Accounting to Rong Sen's estimates, the order value is expected to reach $5.0 million in the calendar year 2010. Rong Sen will also work with Niusule to market, display and manage promotional activities for the Company's products and expand Niusule's retail outlets to 36 by the end of 2009 and 100 by the end of 2010 in Zhejiang Province
The retail price of Niusule's products will be set by Rong Sen in accordance with Niusule's guidelines. Niusule and Rong Sen will work together to increase Niusule's market share in markets covered by Rong Sen, including Ningbo, Wenzhou, and Shaoxing.
"We are excited to announce our distribution partnership with Hangzhou Rong Sen Food Co., Ltd. Rong Sen has an established distribution network in Zhejiang and we expect to market our products at the leading retail outlets through their efforts," commented Ms. Qinghua Hu, CEO of Niusule Biotech Corp. "Our goal is to establish a strong distribution network across China and this contract with Rong Sen is an important step in that direction. We are confident that Rong Sen will help expand our market presence and will not only meet but exceed the 100 retail outlets target for 2010," added Ms. Hu.
About Niusule Biotech Corp.
Niusule Biotech Corp. ("Niusule" or "the Company"), through its wholly owned subsidiary Niusule Bioengineering (Hangzhou) Co. Ltd., develops and distributes health food and related products manufactured in the US to Chinese consumers. The Company launched its Niusule Gummy Bears nutritional supplements for children in September 2009 and its PlantFusion protein powder in July 2009. Niusule currently has a retail distribution network comprised of 36 outlets at high-end supermarkets and shopping malls in Zhejiang province and is aggressively seeking to expand into other regions in China. Niusule was founded in April 2008 and is headquartered in Monrovia, California. For more information, contact CCG Investor Relations directly or go to Niusule's website at http://www.niusule.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Certain statements in this press release constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. We disclaim any obligation to update any such factors or to announce publicly the results of any revisions of the forward-looking statements contained herein to reflect future events or developments. You are urged to consider these factors care in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this press release and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.