July 12, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Renhuang Pharmaceuticals, Inc. (AMEX: CBP), a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines, said it has signed an acquisition agreement with Yichun Red Star Forest Bureau of Heilongjiang Province for indefinite exclusive access to 100,000 acres of wild Siberian Ginseng in Heilongjiang Province.

Siberian Ginseng is a plant with claimed anti-depressant and mood regulation qualities and is also an active ingredient in Renhuang’s line of all-natural anti-depressant medications.

Under the terms of the agreement, Renhuang will be granted permanent exclusive rights to purchase the wild Siberian Ginseng grown on 100,000 acres. The Siberian Ginseng plant yield is expected to amount to an estimated 500 tons annually.

The Siberian Ginseng fields will be maintained and harvested by personnel supervised by the Forest Bureau and the company said it will pay a lower than prevailing fair market price for the Siberian Ginseng harvested.

Renhuang will be responsible for continued maintenance and protection of wild resources to make this area a professional Siberian Ginseng base that produces additional Ginseng.

China-based Renhuang Pharmaceuticals is engaged in the research, development, manufacturing, and distribution of botanical products, bio-pharmaceutical products, and traditional Chinese medicines in the People's Republic of China. The company distributes its botanical anti-depression and nerve-regulation products, biopharmaceutical products, and botanical antibiotic and OTC TCMs through its network of over 3,000 distributors and over 70 sales centers across 24 provinces in China.

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