NEW YORK, Oct. 31 /PRNewswire-FirstCall/ -- Rx for Africa, Inc. , announced today that effective immediately, its stock will now trade under the symbol RXAF.PK and that the name "Diamond Entertainment" and its symbol (DMON.PK) will no longer be used as part of the company's operations.
Rx for Africa, Inc. is the surviving company in a reverse merger completed in May 2007 with Diamond Entertainment Corp. - (DMON.PK). Through its wholly owned subsidiary, Rx Africa (Ethiopia) PLC (formerly known as Sunshine Pharmaceutical), Rx for Africa, Inc. owns and operates a state-of-the art pharmaceutical plant built on twenty three thousand square meters of land located south of Addis Ababa, Ethiopia. The Company is currently producing and marketing eight generic products in Ethiopia, with the goal of increasing production within the next 12 to 18 months to 50 products meeting US Food and Drug Administration (US FDA) and World Health Organization (WHO) good manufacturing practices (GMP). The expected product list includes three malaria drugs, three drugs for tuberculosis, nine HIV drugs, 27 antibiotics, and several each of anti-protozoans, anti-fungals and anti-emetics.
"The change in our name and symbol to Rx Africa, Inc. (RXAF.PK) better reflects our mission and focus as a world-class provider of generic medicines, including those for HIV/AIDS, malaria, tuberculosis and other diseases," commented Dr. Mulugetta Bezzabeh, CEO of Rx Africa (Ethiopia) PLC and board member of Rx for Africa, Inc. "Though presently focused solely in Ethiopia, we plan to expand our distribution throughout sub-Saharan Africa and beyond, and our new name and symbol are properly reflective of our path and vision. We are going to be a major player in the African pharmaceutical business."
Forward Looking Statements
This press release contains certain forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by safe harbors created hereby. Such forward-looking statements involve known and unknown risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners or others that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.
CONTACT: Howard Becker, Director, Rx for Africa, Inc., +1-917-553-1205