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China Botanic Pharmaceutical Inc. Announces Acceptance of its Plan of Compliance by NYSE MKT LLC
Date:3/7/2013

HARBIN, China, March 7, 2013 /PRNewswire/ -- China Botanic Pharmaceutical Inc. (NYSE MKT: CBP) (formerly Renhuang Pharmaceuticals, Inc.) ("China Botanic" or the "Company"), a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines ("TCM") in China, announced today that on March 1, 2013, the Company received notice from the staff of NYSE MKT LLC (the "Exchange") advising the Company that the plan of compliance previously submitted to the Exchange had been accepted with a compliance date of May 1, 2013.

Previously the Company disclosed that it had received a notice of failure to satisfy continued listing standards from the Exchange stating that it was not in compliance with Sections 134 and 1101 of the NYSE MKT LLC Company Guide as a result of the Company's inability to timely file its Annual Report on Form 10-K for the period ended October 31, 2012. The Company was afforded an opportunity to submit a plan of compliance to the Exchange, and on February 14, 2013 the Company presented its plan to the Exchange. On March 1, 2013, the Exchange notified the Company that it accepted the Company's plan of compliance and granted the Company an extension until May 1, 2013 to regain compliance with the continued listing standards. The Company will remain listed and will be subject to the periodic review by the staff of the Exchange during the extension period. Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by May 1, 2013 could result in the Company being delisted from the Exchange. The Company continues its efforts to execute the plan within the time frame prescribed by the Exchange.

Trading in the Company's shares remains suspended.

About China Botanic Pharmaceutical Inc.

China Botanic Pharmaceutical Inc. is engaged in the research, development, manufacturing, and distribut
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SOURCE China Botanic Pharmaceutical Inc.
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