Hiru Corporation (HIRU) Targets Animals Health Product Merger Candidate

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Apr 28, 2010, 11:55 ET

FUZHOU CITY, China, April 28 /PRNewswire-FirstCall/ - Hiru Corporation (HIRU; http://www.hirucorporation.com/) management announces, that the company located a viable China-based Animals Health Product or agricultural products company.

The targeted merger candidate, founded in 2000 in Nanchang, Jiangxi China Shuang Shi Animals Health Product Co., Ltd and Chuangdao Animals Health Product Co., Ltd (Jiangxi Animals Health Product Co Group) are owned and controlled by the same China based nationals. They operate a successful conglomerate and a very successful company focusing on production and distribution of feed additives, disinfectants, injections, powder/premix and six production lines of seven dosage forms. The two companies jointly employ 268 staff (30% with college education, including experienced senior veterinary and pharmaceutical experts). They have acquired Good Manufacturing Practice (GMP) Certificate in 2005.

HIRU management assessed the company as one with a good economic efficiency. The Jiangxi Animals Health Product Co., Group expects to realize annual sales income of 227 million RMB (over $33 million USD) with the average annual profits of 66.5548 million RMB (over $9.5 million USD).

A source close to the merger process and the company stated," Jiangxi Animals Health Product Co Group offers great opportunity for new growth and increase of the overall value of the Hiru Corporation. Besides its great production and development base, this company offers a viable plan for the next five years, including the expansion of research and development capabilities, acceleration of the company's research, and development of its own veterinary drugs for the Chinese market. Working on the assumption of finalizing this merger, we believe that injection of the Jiangxi Animals Health Product Co merger could significantly raise the value of Hiru Corporation. The two companies revenues and assets are split approximately Shuang Shi 35%- and Chuangdao 65%. Right now we have the go ahead on the Shuang Shi deal from both sides, and logistics and other administrative measures are being implemented. The due diligence is far better than what we expected. Hiru management and its advisors are working at having both companies merged. A corporate decision was made to introduce both Jiangxi Animals Health Product Co Group companies now, in order not to confuse the markets if and when the second anticipated merger comes to a fruition".

Many of the HIRU followers may be puzzled as to the reason and the timing for the upcoming merger. Simply, the current operating company of HIRU a China based pharmaceutical company - Jiang Xi Rongyu Pharmacutical Group, Inc. http://www.jxrongyuyy.com because of its strong ties to the China markets, intends to list on a China domestic exchange. Rongyu Pharmacutical Group, Inc will either be listed on the China Shanghai or Shenzhen domestic stock exchange. As this is still in the works details will be provided as they crystallize further.

Moving forward with HIRU the details are still being worked on and what this will mean to HIRU in terms of the asset sale, and the benefits which will flow as a result of that sale and the positive effect on the HIRU shareholders.

The company is in the process of preparing a narrative report and inform its shareholders on all developments regarding this merger, the China up listing, asset sale and all other vital information about the company shortly.

The merger is on target to close according to schedule. The company intends to provide details on a timely basis.

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Safe Harbor Statement

Information in this news release may contain statements about future expectations, plans, prospects or performance of Hiru Corporation that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project" and similar words and phrases are intended to identify such forward-looking statements. Hiru Corporation cautions you that any forward-looking information provided by or on behalf of Hiru Corporation is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Hiru Corporation's actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Hiru Corporation's control. In addition to those discussed in Hiru Corporation's press releases, public filings, and statements by Hiru Corporation's management, including, but not limited to, Hiru Corporation's estimate of the sufficiency of its existing capital resources, Hiru Corporation's ability to raise additional capital to fund future operations, Hiru Corporation's ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match Hiru Corporation's capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Hiru Corporation does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.

CONTACT: Hiru Corporation, www.minamargroup.net/helpdesk

SOURCE Hiru Corporation