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Discovery Technologies, Inc. Announces Name Change to China Green Agriculture, Inc.

China Green Agriculture, Inc.
2008-02-05 15:39 1436


XI’AN, China, Feb. 5 /Xinhua-PRNewswire/ -- Discovery Technologies, Inc. (OTC Bulletin Board: DCOV) (“Discovery Technologies” or “the Company”), through its wholly owned subsidiary, Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd., (“TechTeam”) a leading producer and distributor of humic acid (“HA”) organic liquid compound fertilizer, announced it has changed its corporate name to China Green Agriculture, Inc. effective today, to more accurately reflect the Company’s current operations.

Pursuant to this name change, the Company’s stock will trade on the Over-the-Counter Bulletin Board under the new ticker symbol CGAG.OB. Additionally, the Company’s new CUSIP number will be 16943W 105.

“We are very happy to have successfully completed changing our name to China Green Agriculture, Inc.,” stated the Company’s CEO, Mr. Tao Li. “With the completion of this process, we look forward to actively promoting our company under its new name, which now matches our corporate identity as one of the largest green organic fertilizer producers in China.”

About China Green Agriculture, Inc.

China Green Agriculture, Inc. produces and distributes humic acid (“HA”) organic liquid compound fertilizer through its wholly owned subsidiary, Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd., (“TechTeam”). TechTeam produces and sells approximately 10,000 metric tons of 111 different kinds of fertilizer products per year. All of TechTeam’s fertilizer products are certified by the PRC government as green products and suitable for growing Grade AA "green" foods, also known as green products that contain little or no chemical materials, as stated by the China Green Food Research Center. TechTeam’s fertilizers are highly concentrated liquids which require an application of approximately 120 ml per mu per application. Its average customer has approximately four mu of land (one mu = .165 acres).

TechTeam currently markets its fertilizer products to private wholesalers and retailers of agricultural farm products in 27 provinces in the PRC. The leading five provinces by revenue for the fiscal year ended June 30, 2007 include Heilongjiang (9.99%), Guangdong (7.81%), Xinjiang (6.59%), Shandong (5.81%), and Henan (5.80%).

Cautionary Statement

This press release contains forward-looking statements concerning the Company’s business, products and financial results. The Company’s actual results may differ materially from those anticipated in the forward-looking statements depending on a number of risk factors including, but not limited to, the following: general economic and business conditions, development, shipment, market acceptance, additional competition from existing and new competitors, changes in technology, and various other factors beyond the Company’s control. All forward-looking statements are expressly qualified in their entirety by this Cautionary Statement and the risk factors detailed in the Company’s reports filed with the Securities and Exchange Commission. Discovery Technologies undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

For more information, please contact:

Company Contact:

Mr. Tao Li

Chief Executive Officer

China Green Agriculture, Inc.

Tel: +86-29-8826-6386

Email: kingtone@techteam.com.cn

Investor Relations Contact:

Mr. Crocker Coulson

President

CCG Elite Investor Relations

Tel: +1-646-213-1915 (NY Office)

Email: crocker.coulson@ccgir.com

Source: China Green Agriculture, Inc.
Keywords: Chemical
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