HAIKOU,
China, Dec. 18, 2024 /PRNewswire/ -- China
Pharma Holdings, Inc. (NYSE American: CPHI) ("China Pharma",
the "Company" or "We"), an NYSE American-listed corporation with a
fully-integrated specialty pharmaceuticals subsidiary based in
China, today announced successful
completion of all redemptions under its Convertible Promissory Note
agreement (the "Convertible Promissory Note") with Streeterville
Capital, LLC as of December 11, 2024.
This marks a significant step in strengthening the company's
financial position and reflects its commitment to sound fiscal
management.
The Convertible Promissory Note was originally issued on
November 17, 2021, with a principal
amount of $5,250,000. Following a
series of amendments, including an extension of the maturity date
to August 19, 2025, China Pharma
has fulfilled its obligations under the Convertible Promissory
Note. The Company's proactive measures to meet its financial
commitments underscore its dedication to maintaining investor
confidence and operational stability.
"We are delighted to announce the completion of
all redemptions under the Convertible Promissory Note," said
Ms. Zhilin Li, CEO and Chairwoman of
the Company "This achievement highlights our continued efforts to
strengthen our financial foundation as we advance our strategic
initiatives. We appreciate the ongoing support of our partners and
stockholders during this process."
With the redemptions now complete, China Pharma is
well-positioned to pursue its growth objectives and deliver
long-term value to its stockholders. The Company remains focused on
its mission to develop its product portfolios and bring to market
innovative pharmaceutical solutions that address critical
healthcare needs of Chinese patients.
About China Pharma Holdings, Inc.
China Pharma Holdings, Inc. (NYSE American: CPHI) is a specialty
pharmaceutical company that develops, manufactures and markets a
diversified portfolio of products, focusing on conditions with high
incidence and high mortality rates in China, including cardiovascular, CNS,
infectious, and digestive diseases. The Company's cost-effective
business model is driven by market demand and supported by new
GMP-certified product lines covering the major dosage forms. In
addition, the Company has a broad and expanding nationwide
distribution network across all major cities and provinces in
China. The Company's wholly-owned
subsidiary, Hainan Helpson Medical & Biotechnology Co., Ltd.,
is located in Haikou City,
Hainan Province. For more
information about China Pharma Holdings, Inc., please visit
www.chinapharmaholdings.com. The Company routinely posts important
information on its website.
Safe Harbor Statement
Certain statements in this press release constitute
forward-looking statements for purposes of the safe harbor
provisions under The Private Securities Litigation Reform Act of
1995. Any statements set forth above that are not historical facts
are forward-looking statements that involve risks and uncertainties
that could cause actual results to differ materially from those in
the forward-looking statements. Such risks and uncertainties may
include, but are not limited to: the achievability of financial
guidance; success of new product development; unanticipated changes
in product demand; increased competition; downturns in the Chinese
economy; uncompetitive levels of research and development; and
other information detailed from time to time in the Company's
filings and future filings with the United States Securities and
Exchange Commission. The forward-looking statements made herein
speak only as of the date of this press release and the Company
undertakes no duty to update any forward-looking statement to
conform the statement to actual results or changes in the Company's
expectations, except as required by applicable law or
regulation.
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SOURCE China Pharma Holdings, Inc.
