BEIJING, June 4 /PRNewswire-Asia/ -- RainEarth Inc. (OTC Bulletin Board: RNER; "the Company"), announced today that its contractual partner in China, Beijing RainEarth Technology Co. Ltd., ("China RainEarth"), and XiangFan Municipal No.1 People's Hospital, entered into a Purchase Agreement (the "Agreement") for an amount of RMB1,800,000 (approximately $263,500) for its blood dialyzers.
China RainEarth has been contracted to manufacture and deliver 30,000 dialyzers for medical use at XiangFan Municipal No.1 People's Hospital. These high quality blood dialyzers will be delivered in early July, 2009. Each dialyzer costs approximately RMB60.00 (approximately $8.75), equaling the total contract value of RMB1,800,000 (approximately $263,500).
XiangFan Municipal No.1 People's Hospital was founded in 1949. It has approximately 1050 beds and is one of China's 700 Rank A Level 3 national hospitals. "We are very pleased that XiangFan Municipal No.1 People's First Hospital recognizes the high quality of blood dialyzers manufactured by China RainEarth. We recognize there is a very large market for our blood dialyzers, therefore our goal is to reach the other Rank A Level 3 national hospitals in China. Reaching these other hospitals would amount to approximately $103,000,000RMB (approximately $15,000,000USD) in revenue," stated Zhu, YongFu, CEO of the Company.
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 first product that utilizes this technology is blood dialyzer.
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
