LAIZHOU, China, July 13 /Xinhua-PRNewswire/ -- Shandong Zhouyuan Seed and Nursery Co., Ltd. (OTC Bulletin Board: SZSN) ("SZSN" or "Parent Corporation") which is incorporated in the State of Delaware, announced that its subsidiary operating company in China, Shandong Zhouyuan Seed and Nursery Co., Ltd. ("Zhouyuan" or "the Company"), entered into an agreement with Jixi Xingcheng Real Estate Development Co. Ltd. ("Xingcheng"), that they will jointly develop the Zhouyuan Building project with an investment of about RMB 50 million (or USD 6.4 million).
According to this agreement, Zhouyuan will invest in the form of land (land certificate number: 102131387) and the building on this land (property right certificate number: 2002016225). Zhouyuan holds the land and property certificates. During the project, it will help to complete relative administrative and legal procedures. Xingcheng will be in charge of the whole management of the project development, including applying relative qualifications and licenses, construction, development, sales of the unites, tax payment, and etc.
Both parties will determine the way of profit sharing and the proportion of profit according to their respective investments. Zhouyuan expects to gain RMB 11 million (or USD 1.4 million) profit in this project.
About Shandong Zhouyuan Seed and Nursery Co., Ltd.
Shandong Zhouyuan Seed and Nursery Co., Ltd. (SZSN) is a large-size hi-tech corporation incorporated in the State of Delaware under the laws of United States. SZSN, through its operating subsidiary, Shandong Zhouyuan Seed and Nursery Co., Ltd. ("Zhouyuan"), grows, produces and markets seeds with high starch content for use in industrial food production in China. Zhouyuan was organized in 2001 in China under the laws of the People's Republic of China, which is located in Laizhou, Shandong province. Its business covers agriculture seeds development and distribution over more than twenty provinces in China. Now Zhouyuan ranks one of the top three seed producers in the Laizhou District, which is known as the "Seed Valley of China".
Safe Harbor
A number of statements referenced in this Press Release, and in our website, are forward-looking statements, which are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995, and within the meaning of Section 27A of the Securities Act of 1933 and Section 21B of the Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, and goals, assumption of future events or performance are not statements of historical fact and may be "forward-looking statements." Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this Release may be identified through the use of words such as "expects," "will," "anticipates," "estimates," "believes," or statements indicating certain actions "may," "could," or "might" occur. Such statements reflect the current views of Shandong Zhouyuan Seed and Nursery Co., Ltd. with respect to future events and are subject to certain assumptions, including those described in this release. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products, services, and technologies, competitive market conditions, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses, and other factors. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties.
Shandong Zhouyuan Seed and Nursery Co., Ltd. does not undertake any responsibility to update the "forward-looking" statements contained in this news release.
