Bodisen Biotech Completes $3 Million
Financing by Strategic Institutional
Wednesday March 16, 2:05
NEW YORK--(BUSINESS WIRE)--March 16, 2005--Bodisen Biotech, Inc.,
(stock symbol: BBOI, website: /)
announced today that it has completed a $3 million financing with an
institutional investor. The financing was closed and funded today,
and additional details regarding the financing are contained in the
Form 8-K filed with the SEC today.
Bodisen intends to use the proceeds of the financing to expand
the company's current production capacity with new manufacturing
facilities, to purchase raw materials at favorable prices as well as
general corporate purposes.
"We believe the financing with a fixed conversion price is
favorable to Bodisen and to our strategic institutional investor. We
are pleased about the completion of this financing, which will help
us execute our growth and expansion plans in 2005," commented Ms.
Qiong Wang, CEO of Bodisen.
Utilizing proprietary technologies, Bodisen sells over 60
packaged products in 3 product categories: Organic Compound
Fertilizer; Organic Liquid Fertilizer; and Pesticides &
Insecticides. Bodisen's organic fertilizers can be absorbed by
plants within 48 hours while enriching soil conditions without the
damaging effects associated with chemical fertilizers.
About Bodisen Biotech, Inc.
Bodisen is headquartered in Shaanxi, China, an agricultural hub
of China and the economic gateway to the western regions of China.
The Bodisen brand is a highly respected organic brand in China. Its
"green" products support the mandate of the Chinese national
government to increase crop yields for the purpose of decreasing
China's dependency on food imports.
Safe Harbor Statement
This press release may contain forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These statements are based
on the current expectations or beliefs of Bodisen Biotech, Inc.
management and are subject to a number of factors and uncertainties
that could cause actual results to differ materially from those
described in the forward-looking statements.
Bodisen Biotech, Inc.
Source: Bodisen Biotech, Inc.