February 17, 2010 (FinancialWire) — Golden Dragon Holdings, Inc. (OTC: GDHI), a firm specializing in the distribution of US food & beverage brands to the Chinese market, said has entered into a private, non-brokered funding arrangement for $960,000.

No other terms of the financing were disclosed, including the identity of the financial investment firm, but Frank Yglesias, CEO of the company said that the financial group was a non-affiliated, existing shareholder.

In addition, the deal includes the acquisition of two years warrants exercisable at a strike price of $0.025, a price in excess of the current trading price.

Golden Dragon plans to use the proceeds to purchase and ship its first container of wine from Spain and France and to ship its third container of food to China.

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