China Medicine Corp. Signs Term Sheet to Raise $59.5 Million

In its Q3 earnings report, China Medicine Corporation announced it signed a preliminary non-binding term sheet with a private equity firm that would raise up to $59.5 million for the company. Together with a solid earnings statement, the news sent China Medicine’s shares 12% higher to $2.62 on heavy volume. More details... Stock Symbol: (OTCBB: CHME)