China Agritech (PINK:CAGC)

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Tuesday, July 6, 2010

China Agritech, Inc. Receives $10 Million From Warrant Exercise by The Carlyle Group:

Mr. Yu Chang, Chairman and Chief Executive Officer of China Agritech, commented, "We are pleased that The Carlyle Group has increased its investment in and commitment to China Agritech. This investment will immediately provide better visibility to our financial statements, as there will no longer be non-cash charges related to these warrants that will affect our earnings. With the new proceeds to further strengthen our balance sheet, we have ample capital to support our ongoing operations and execute our current expansion plans, especially to begin the ramp up of our distribution network in China. We look forward to extending our growth track record and maximizing value to our long-term shareholders."

June 29, 2010 (PR Newswire)

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