DAQING CITY, China, July 1 /PRNewswire-Asia/ -- China Nutrifruit Group Limited, (OTC Bulletin Board: CNGL), ("China Nutrifruit" or "the Company"), a leading producer of premium specialty fruit based products in the People's Republic of China ("PRC"), announced it has submitted an application to upgrade its stock to the NYSE AMEX Stock Exchange (NYSE AMEX). The application is subject to review by AMEX and the Company's common stock will continue to trade on the OTC Bulletin Board under its current symbol, CNGL, until the Company is notified of its acceptance.
China Nutrifruit has been trading on the Over-the-Counter since August 2008. The Company's management is confident that it satisfies all of the eligibility requirements for listing on NYSE AMEX, including corporate governance requirements. At its board meeting in June 2009, the Company appointed Mr. Tony Chun Wai Chan, Mr. William Haus, and Mr. Jingfu Li as independent directors. With these additions, China Nutrifruit's board of directors is now comprised of five directors, three of whom are independent. The Company also adopted a code of ethics and established audit, compensation and corporate governance and nominating committees.
"We are pleased to announce that we have submitted our application to list our shares on the NYSE AMEX. Over the past year as a US listed company, we have taken various initiatives to establish a strong relationship with our shareholders and the investment community, including participating in investor conferences and media interviews. We believe listing on the NYSE AMEX will improve our ability to interact with US investors, enhance our corporate image and increase our market visibility," commented Mr. Jinglin Shi, CEO of China Nutrifruit.
About China Nutrifruit Group Limited
Through its subsidiary Daqing Longheda Food Company Limited, China Nutrifruit is engaged in developing, processing, marketing and distributing a variety of food products processed primarily from premium specialty fruits grown in Northeast China, including golden berry, crab apple, blueberry and raspberry. The Company's processing facility possesses ISO9001 and HACCP series qualifications. The Company has established an extensive nationwide sales and distribution network covering 19 provinces and 43 cities, through 70 distributors in China.
Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements". All statements other than statements of historical fact included herein are "forward-looking statements". These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact:
Company Contact:
Mr. Colman Cheng, Chief Financial Officer
China Nutrifruit Group Limited
Tel: +852-9039-8111
Email: zsj@longheda.net
Web: http://www.longheda.net
Investor Relations Contact:
Mr. Crocker Coulson, President
CCG Investor Relations
Tel: +1-646-213-1915 (NY office)
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com
