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Emerald Dairy Closes $1.75 Million Private Placement

January 5, 2010 (FinancialWire) — Emerald Dairy, Inc. (OTCBB: EMDY), a producer and distributor of infant and children’s formula, milk powder and soybean products in China, said it has closed a private offering in which it sold to “accredited” investors promissory notes in an aggregate principal amount of $1.75 million.

The notes have an interest rate of ten percent per annum, maturing in one year, and three-year warrants to purchase 536,809 shares of the company’s common stock, at an exercise prices of $1.63 per share.

The notes are secured by a pledge of 5,883,329 shares of the company’s common stock beneficially owned by Yang Yong Shan, Emerald Dairy’s CEO.

Emerald said it will use the net proceeds from the offering primarily to complete the installation and equipping of the first milk powder production line in the company’s newly-constructed facility in Hailun City, China.

The company said it expects production at the new facility to commence in the first quarter of 2010.

Virginia-based Emerald Dairy products are distributed throughout 20 provinces in mainland China and sold in over 6,000 retail outlets.

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