XI’AN, CHINA--(Marketwire - December 31, 2007) - Huifeng Bio-Pharmaceutical Technology, Inc. (OTCBB: HFGB), a leading developer and producer of plant extracts and pharmaceutical raw materials for use in pharmaceutical, nutraceutical and food production, is pleased to announce that it has successfully closed a two million dollar ($2,000,000) convertible debt financing. The debt is convertible into shares of common stock at $1.00 per share and the Company’s use of proceeds is to fund acquisitions of synergistic companies within the Shaanxi Province, China. Primary Capital LLC acted as the sole placement agent for this transaction.
