Dragon Pharmaceutical Inc. (OTC BB: DRUG; TSX: DDD; BBSE: DRP) (“the Company”) is pleased to announce that January 11, 2005 has been set as the date for the annual stockholder meeting of the Company to vote on the proposed acquisition of Oriental Wave Holdings Ltd., among a series of important proposals. The annual meeting of Dragon stockholders will be held at Dragon’s corporate offices at Suite 1900, 1055 West Hastings Street, Vancouver, Canada at 10:00 A.M. Pacific Time.
Stockholders of Dragon of record as of the close of business on November 29, 2004 will be entitled to vote at the meeting. On or about December 8, 2004, the Company will send to these stockholders a copy of the definitive proxy statement in connection to the annual meeting. If the acquisition is approved by a simple majority of the outstanding shares voted at the meeting, Dragon and Oriental Wave management teams currently anticipate to close the transaction by mid-January 2005.
“We are delighted to present this proposal and other proposals to our shareholders “said Dr. Alexander Wick, President and CEO of Dragon. “The Company and Oriental Wave have worked diligently together in preparing the document and addressing comments from the SEC and other regulatory agencies and are proud to provide the extensive proxy statement being sent to shareholders. In view of the bright future, the proposed acquisition of Oriental Wave merits positive considerations by all Dragon shareholders. All shareholders should read the proxy statement carefully.”