SHISHI, China, Dec. 17 /PRNewswire-Asia-FirstCall/ -- China Marine Food Group Ltd. (OTC Bulletin Board: CMFO), a China-based processor and distributor of seafood snack foods and fresh and frozen marine catch, today announced that the Company’s Chairman and CEO has purchased 100,000 shares of the Company’s stock. All of the shares were acquired in a block transaction from an individual shareholder for $1.50 per share.
Pengfei Liu, Chairman and Chief Executive Officer, stated, "We have continued to grow our business and market during the past two years by executing our growth plan. In addition, our expansion plans for 2009 are on track. The current market conditions have created a significant investment opportunity which I am pleased to seize and this action speaks to my belief in our Company, and my commitment to creating value for our shareholders."
About China Marine
China Marine Food Group Ltd. processes and distributes processed seafood snack-type products, and fresh and frozen marine catch to six provinces in the PRC and select international markets. Founded in 1994, China Marine has grown steadily and positioned its "Mingxiang" brand as a category leader in 1,400 retail sales points in the PRC. The Company has received "The Famous Brand" and "Green Food" awards. It is located in Fujian Province, one of the largest coastal provinces in the PRC and a vital navigation hub between the East China Sea and the South China Sea. The Company is committed to the highest standard of quality control with the ISO9001, ISO14001, HACCP certification and the EU export registration.
FORWARD-LOOKING STATEMENTS
This release contains certain "forward-looking statements" relating to the business of China Marine Food Group Limited and its subsidiary companies, which can be identified by the use of forward-looking terminology such as "believes, expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, concentration in a single customer, raw material costs, market acceptance, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. China Marine Food Group Limited is under no obligation to (and expressly disclaims any such obligation to) update or alter its
forward-looking statements whether as a result of new information, future events or otherwise. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
