XI’AN, CHINA -- (MARKET WIRE) -- March 07, 2007 -- Skystar Bio-Pharmaceutical Company (OTCBB: SKBI) (“Skystar”), a leading bio-pharmaceutical company in China, today announced that it raised gross proceeds of $4.075 million in a private transaction with several institutional and accredited investors. Skystar sold $4.075 million in aggregate principal amount of 8% convertible debentures and warrants to purchase 4,075,000 shares of the common stock of Skystar, with an initial exercise price of $1.20 per share. Pacific Ridge Capital, LLC acted as the placement agent for this transaction.
