China Aoxing Pharmaceutical Company, Inc., a pharmaceutical company specializing in research, development, manufacturing and marketing of narcotic and pain-management products, today announced that it has completed a private placement with a total of fifteen institutional and other accredited investors of 5,263,158 shares of the Company's common stock at a purchase price of $0.95 per share, for gross proceeds of $5 million.
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The securities issued in this private placement have not been registered under the United States Securities Act of 1933, as amended, or the securities laws of any other jurisdiction. Accordingly, these securities may not be sold by investors in the United States, except pursuant to an effective registration statement or an applicable exemption from the registration requirements. For more detailed information on this financing, see the Company's Current Report on Form 8-K which will be filed with the Securities and Exchange Commission on or about August 7, 2009.
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