SOURCE: Central American Equities Corp

July 06, 2006 15:44 ET

Central American Equities Corp. -- Name Change and Reverse Stock Split

NEW YORK, NY -- (MARKET WIRE) -- July 6, 2006 -- Central American Equities Corp. (OTCBB: CEAQ) announced today that effective Friday, July 07, 2006 the Company will change its name to "China Aoxing Pharmaceutical Company, Inc." and begin trading under its new symbol (OTCBB: CAXG). In addition, the Company announced a 1:4 reverse split of its outstanding common shares. Both 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.

Shareholders may, at their own expense, exchange their current stock certificates for newly issued certificates reflecting the name change, new CUSIP number and the post-split adjusted number of shares, but are not required or obligated to do so. Shareholders who desire to exchange share certificates should submit their stock along with transfer fee of $45.00 U.S. Dollars for each Certificate issued, to the Company's transfer agent, Olde Monmouth Stock Transfer Co. Attn: Exchange Dept., 200 Memorial Parkway, Atlantic Highlands, NJ 07716 Telephone number is 732-872-2727.

China Aoxing Pharmaceutical Company, Inc., through its 60%-owned subsidiary, Hebei Aoxing Pharmaceutical Group, Co., Ltd ("Hebei Aoxing"), is primarily engaged in the development, production and sale of traditional and advanced analgesic medicines in China. Hebei Aoxing is one of the very few private Chinese enterprises with state-approved licenses to produce analgesic medicines. It currently has 186 employees. Its products include Oxycodone, Pholcodine, Naloxone, and Tilidine, which have been recommended by the World Health Organization (WHO) to replace the current imported analgesic products in China.

This news release contains forward-looking statements and may involve risks, uncertainties and other factors that may cause the Company's actual results to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks and uncertainties include, without limitation, risks that future acquisitions may be unsuccessful, risks related to potential changes in the PRC government's policies and laws, risks related to possible currency exchange rate fluctuations and structural changes in the market for the Company's current product(s). We undertake no obligation to revise or update publicly any forward-looking statements.

Contact Information

  • Contact:
    John Leo
    100 Wall Street, 15th Floor
    New York, NY 10005
    Tel: 212 232-0120