BEIJING, June 2 /PRNewswire-Asia/ -- RainEarth Inc. (OTC Bulletin Board: RNER; "the Company"), which recently changed its name from Gold Rock Resources Inc., has announced that its contractual partner in China, Beijing RainEarth Technology Co. Ltd., ("China RainEarth") has had its disposable blood dialysis included in the third, and most recent, installment of Beijing Independent & Innovative Products.
In May 2009, Beijing Municipal Science and Technology Commission (BMSTC) recognized a need to encourage innovation and development for local companies in Beijing Zhongguancun, considered the Beijing Silicon Valley of research and development. BMSTC, together with Municipal Development and Reform Commission, Municipal Housing, Urban and Rural Development Committee, Municipal Economic and Information Technology Commission and Zhongguancun Administration Committee, had announced a list of products each with its own advanced technology intellectual property. It is a great honor that China RainEarth’s disposable blood dialysis has been included along with the products of some other well-known companies such as Lenovo, Beijing Stone, Founder Technology Group and Beijing SL Pharmaceutical.
See the details of the List and the Circular at http://www.bjkw.gov.cn/n1143/n1240/n1405/n1901/7569666.html
The program started in 2007, with this list being the third installment. The program is aimed at encouraging public investment in products demonstrating technical advances and having their own intellectual rights in Beijing, especially companies in the Beijing Silicon Valley. The list of recognized products covers IT, biomedical, new materials, energy saving, environment protection, cultural creativeness, etc, all of which are highly innovative and technically advanced. Recognized products will be placed as high priorities on the government’s purchasing plan. Products included in the previous two installments have been purchased by the government for a total amount of roughly USD$ 320 million.
"We are very pleased that China RainEarth’s disposable blood dialysis has been included on this list," said Mr. Zhu, CEO of the Company. "This will lead to increased business for the company, particularly with government departments and state owned hospitals."
About the Company:
RainEarth Inc. (formerly Gold Rock Resources Inc., the "Company") was incorporated in the State of Nevada on March 14, 2006. The Company is a developing stage company that initially engages in the search for mineral deposits or reserves.
On March 25, 2009, the Company and Beijing RainEarth Technology Co. Ltd., a company organized and existing under the laws of the People’s Republic of China, entered into a Business Cooperation Agreement (the "Agreement") for a term of twenty years. The purpose of the Agreement is to jointly conduct Hollow Fiber Mambrane Materials’ application and manufacturing business in China (the "Business").
The Company will provide Advice and assistance relating to development of marketing and consultancy services, particularly as related to the Business. Beijing RainEarth Technology Co. Ltd. will give 60% of its revenue after deduction of direct operating costs, expenses and taxes to the Company in consideration of the Company’s services.
Forward-looking statements
This press release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this press release are forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors; developments of the Chinese and North American markets and changes in regulatory matters; our business strategies and future plans of operations; the market acceptance and amount of sales of our products and services; our historical losses; the competitive environment within the industries in which we compete; and our ability to raise additional capital, currently needed for expansion. The Company cautions that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements due to several important factors.
For more information, please contact:
RainEarth Inc.
Public Relationship Department
Tel: +86-10-6127-1736