AXM PHARMA ANNOUNCES ADDITIONAL FINANCING AND FINAL SFDA INSPECTION OF FACTORY RESCHEDULED

AXM Pharma has announced that the company's Series B Preferred Shareholders have exercised warrants resulting in net proceeds of US$1,200,000. The warrants were converted at a price of $3.00. In addition, AXM announced that final inspection of their new factory has been rescheduled by the State Food and Drug Administration (SFDA) for the week of Jan. 10, 2005.

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