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Axm Pharma, Inc.  (AXJ) Receives Initial Proceeds Of 10 Million RMB Loan From Shenyang Municipal Government


4/28/2006 11:53:17 AM

CITY OF INDUSTRY, Calif.--(BUSINESS WIRE)--April 28, 2006--AXM Pharma, Inc. (AMEX: AXJ - News), a manufacturer of proprietary and generic pharmaceutical and nutraceutical products for the Chinese and other Asian markets, announced today that it has received the first tranche of a 10 million RMB (equivalent to $1.25 million) loan without interest from the Shenyang Municipal Government. The Company received initial proceeds of $375,000, with the second and final tranche of $875,000 expected prior to the end of April. The proceeds are expected to be used to expand existing operations as well as for working capital and other general corporate purposes.

Read at press release

   

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