AXMP AXM Pharma Inc (CE)

AXM Pharma (OTC: AXMP) announced today that it has entered into an agreement with Beida Wei Ming Bioproduct Co., Ltd. (�Beida Wei�) under which Beida Wei will invest $2.65 million in the Company through a convertible debt financing. The Company received the first $200,000 tranche, and will receive additional payments upon achieving certain milestones. The funding is convertible into common stock at the investor�s election at $1.25 per share. Proceeds from the financing will be used to invest in production and product development, and for general corporate purposes. Beida Wei is a subsidiary of Beida Wei Ming Bio-Engineering Group Inc. Yuyuan Holding Company, is one of the major shareholders of Beida Wei Ming, which is a Shenzhen Stock Exchange (SSE 000408) listed company. �We are pleased to have entered into a funding agreement with this experienced and supportive investor,� said Wang Weishi, Chairman and CEO of AXM Pharma. �Proceeds from this financing will allow us to invest in our pharmaceutical business to support its growth, and to make the necessary filings in the United States to seek a Bulletin Board listing.� About AXM Pharm AXM Pharma, Inc. is a global pharmaceutical company engaged in the production, marketing and distribution of pharmaceutical products in China. The Company produces, markets and distributes medicines in various dosages and forms in most areas of medicinal treatment, as well as herbal remedies, vitamins and adjunctive therapies. Through its wholly owned subsidiary, AXM Pharma Shenyang, Inc., the Company has utilized its production and distribution capabilities to establish a pharmaceutical operation focused on supplying the growing demand for drugs and on the opportunities for proprietary branded products in specific niche categories. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this news release include certain predictions and projections that may be considered forward-looking statements under securities law, including the statements regarding the Company's opportunities for future growth. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, obtaining regulatory approvals to market the Company's products, the uncertainties associated with distributing products in a developing country such as China, the availability of cash to meet near term requirements as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices. With respect to AXM, except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, AXM's extremely limited operating history, uncertainties related to the Company's access to additional capital, competition and dependence on key management.