Beijing's Kiwa Bio-Tech Products Group has reported a 5 million share equity investment by a new investor at the price of $0.13 per share. With this, the group has closed a new equity financing of 650,000 to be used for further development of marketing efforts of the products from Kiwa Bio Tech.
Mr. Wei Li, Chairman of the Board and CEO of the Kiwa Bio-Tech Products, said, "This capital infusion will be used for further development of the marketing efforts for Kiwa's bio-feed and bio-fertilizer businesses, development of the veterinary pharmaceuticals and research and development efforts. This will also strengthen the company's balance sheet and support the rapid growth we anticipate in 2008 and 2009."
Kiwa Bio-Tech Products develops, manufactures, distributes and markets innovative, cost-effective, and environmentally safe bio-technological products for agricultural and natural resources and environmental conservation. It has acquired the rights to manufacture and market AF-01 Anti-viral Aerosol Agent for use in preventing (blocking) bird-flu disease in Chinese and international markets. It has excellent relations with government authorities in China and has developed several innovative, high margin products, while continuing to grow through internal and external product development.