Aoxing Pharma Announces Resignation of CFO

Dec 04, 2015, 08:00 ET from Aoxing Pharmaceutical Company, Inc.

JERSEY CITY, N.J., Dec. 4, 2015 /PRNewswire/ -- Aoxing Pharmaceutical Company, Inc. (NYSE MKT: AXN) ("Aoxing Pharma"), a specialty pharmaceutical company focusing on research, development, manufacturing, and distribution of narcotic, pain-management, and addiction treatment pharmaceuticals, today announced that Wilfred Chow has resigned from his position as the Company's Chief Financial Officer. Guoan Zhang, Aoxing Pharma's Senior Vice President for Finance, will assume the position of Chief Financial Officer.

Wilfred Chow, commenting on his resignation, stated: "My tenure as CFO for Aoxing Pharma has been one of the most rewarding periods of my professional life. I am proud to have assisted this extraordinary group of people in their drive to bring much-needed pharmaceutical products to China. However, my own personal and professional situations make this a good time to hand over the role of CFO to Mr. Zhang. I will continue to assist Aoxing Pharma as an advisor, and I look forward to continued participation in the growth of this very special company."

Zhenjiang Yue, Aoxing Pharma's Chief Executive Officer, commented: "We are grateful to Wilfred Chow for his contribution to our company through this year. We approach the end of 2015 with a dramatically improved balance sheet, and much of the credit for our current financial stability is due to Wilfred's dedicated efforts on our behalf. I look forward to continuing my relationship with Wilfred, as he serves as our advisor, and I wish him well in his future business ventures."

About Aoxing Pharmaceutical Company, Inc.

Aoxing Pharmaceutical Company, Inc. is a US incorporated specialty pharmaceutical company with its operations in China, specializing in research, development, manufacturing and distribution of a variety of narcotics and pain-management products. Headquartered in Shijiazhuang City, outside Beijing, Aoxing Pharma has the largest and most advanced manufacturing facility in China for highly regulated narcotic medicines. Its facility is one of the few GMP facilities licensed for the manufacture of narcotic medicines by the China Food and Drug Administration ("CFDA"). For more information, please visit: www.aoxingpharma.com.

Safe Harbor Statement from Aoxing Pharmaceutical Company, Inc.

Certain statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. All forward-looking statements included herein are based upon information available to the Company as of the date hereof and, except as is expressly required by the federal securities laws, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events or for any other reason. To the extent that any statements made here are not historical, these statements are essentially forward-looking. Undue reliance should not be placed on forward-looking information. The economic, competitive, governmental, technological and other risk factors identified in the Company's filings with the Securities and Exchange Commission, specifically, Item 1A, "Risk Factors," in the Form 10-K for the year ended June 30, 2014, may cause actual results or events to differ materially from those described in the forward looking statements in this press release. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.

SOURCE Aoxing Pharmaceutical Company, Inc.



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