SOURCE: China SXAN Biotech, Inc.

September 10, 2007 10:22 ET

Advance Technologies, Inc. Effects Name Change and Reverse Stock Split

NEW YORK, NY--(Marketwire - September 10, 2007) - Advance Technologies, Inc. (OTCBB: AVTX) (the "Company") announced today that, effective Monday, September 10, 2007, the Company will change its name to "China SXAN Biotech, Inc." and begin trading under its new symbol (OTCBB: CSXB). In addition, the Company announced the completion of a 1:51 reverse split of its outstanding common shares. The reverse split and name change became effective on the open of business of September 10, 2007. All actions were approved by the Board of Directors and the majority shareholders of the Company, and disclosed in the Company's information statement previously mailed to the shareholders.

China SXAN Biotech, Inc., through its 100%-owned subsidiary, Tieli XiaoXingAnling Forest Frog Breeding Co., Ltd., is engaged in the business of manufacturing and marketing wines and tonics derived from domesticated forest frogs. All of Tieli XiaoXingAnling Forest Frog Breeding Co., Ltd.'s business is currently in China.

This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

Contact Information

  • Contact:
    Peter D. Zhou
    212-232-0120