SOURCE:
NW Tech Capital, Inc.
2008-08-19 08:45:00
VANCOUVER, WA and HONG KONG–(EMWNews – August 19, 2008) – NW Tech Capital, Inc. (
acquire 51% of the controlling shares of Zhuhai Jialun Guangcai Chain
Drugstore Co., Ltd. (“ZJG Drugstores”). The ZJG Drugstores produced over 51
million RMB ($7.4 million USD) in revenue for 2007 and between
January-April 2008 revenues were up approximately 22% over the prior year
for the same period. The ZJG Drugstores will become part of NWTT following
a financial audit required by the SEC and upon satisfactory completion of
the final acquisition agreement. James Wheeler, CEO of NWTT, will be
meeting with the management team of the ZJG Drugstores chain to finalize
the acquisition, audit issues, and timeline for completion of the
acquisition.
Mr. Wheeler stated: “We are extremely excited that we are underway with our
plans to do business in China and look forward to finalizing the terms of
the acquisition agreement with ZJD Drugstores when we meet in Zhuhai, China
and Hong Kong in September, 2008. ZJD Drugstores are on a very impressive
growth rate and we look forward to their continued success as a part of NW
Tech Capital, Inc.”
The ZJG Drugstores own over 400 chain drugstores in Guangdong Province in
the cities of Zhuhai, Zhongshan, Fuschan, and Dongguan with over 700
internally manufactured products. The Guangdong Province has a population
of over 88 million people. The ZJG Drugstores and over 2000 individual
drugstores use Gugangcai Software which was developed by Jialun Guangcai
Software Co. Ltd. This software provides the logistic and management
platform for the drugstores, wholesalers, manufacturers and administrators.
James Wheeler, CEO of NWTT, stated, “The Zhuhai Jialun Guangcai Chain
Drugstore Co., Ltd. is a great company with a proven track record of
success. We are honored to become a team member. We will have additional
information following the September 2008 meetings with management of the
ZJG Drugstores in Zhuhai, China and Hong Kong. We anticipate that this
will be the 1st of many opportunities for NWTT in China.”
About Zhuhai Jialun Guangcai Chain Drugstore Co., Ltd.
Zhuhai Jialun Guangcia Chain Drugstore is a retail and wholesale for
Chinese Traditional Medicine materials, Traditional Chinese Medicine Patent
Prescription, Chinese Traditional Medicine Slices, biochemical
pharmaceutics, biological products (except for the bio-products for
preventive use), chemical, antibiotics; the retail for foodstuff and health
products; the retail and wholesale for chemical products (except for
dangerous chemicals and easy made drugging chemicals), cosmetic and general
goods; the retail and wholesale for Class II medical instruments (except
for the items with licenses). Additional information regarding the ZJD
Drugstores is available at http://www.gzhuang.cn/zhuhai/e_index.asp.
About NW TECH CAPITAL, INC.
NW Tech trades on the OTC Bulletin Board under the ticker symbol “NWTT.”
For more information on NW Tech Capital contact [email protected]
or visit web sites at www.nwtechcapital.com
Certain Information
Investors are cautioned that certain statements contained in this document
as well as some statements in periodic press releases and some oral
statements of NWTT officials are “Forward-Looking Statements”: within the
meaning of the Private Securities Litigation Reform Act of 1995 (the
“Act”). Certain statements in this news release may contain
forward-looking information and are based on Management’s current
expectations, estimates and projections subject to change. Words such as
“anticipates,” “expects,” “intends,” “plans,” “targets,” “projects,”
“believes,” “seeks,” “estimates” and similar expressions are intended to
identify such
forward-looking statements. These statements are not guarantees of future
performance and are subject to certain risks, uncertainties and other
factors, some of which are beyond our control and are difficult to predict.
Therefore, actual outcomes and results may differ materially from what is
expressed or forecasted in such forward-looking statements. You should not
place undue reliance on these forward-looking statements. Unless legally
required, the Company undertakes no obligation to update publicly any
forward-looking statements, whether as a result of new information, future
events or otherwise. The Company disclaims any information that is created
or distributed by any outside party and endorses only information that is
communicated by its official Press Releases.
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