LAIZHOU, China, July 18 /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, stated that its subsidiary, Shandong Zhouyuan Seed and Nursey Co. Ltd in China ("Zhouyuan") has signed a letter of intent with Mr. Duan Yongguo, the major shareholder of Shijiazhuang Aerospace Agriculture Technology Co., Ltd. ("Aerospace Agriculture"), to acquire all his equity holdings on Aerospace Agriculture which represents 2,673,500 shares of the total issued and outstanding shares of Aerospace Agriculture.
According to the Letter of Intent, Zhouyuan agreed to pay Mr. Duan for the shares of Hebei Province based company, Aerospace Agriculture, in cash to acquire its 2,673,500 units of stock, which is about 53.47% of the total issued and outstanding of Aerospace Agriculture. The consideration on this acquisition will be further negotiated and discussed within 30 days upon the date of signing.
If Zhouyuan shall acquire the 53.47% equity interest of Aerospace Agriculture, Zhouyuan will promote its brand to other areas in Northern and Central part of China. More importantly, with the expected high-quality assets of Aerospace Agriculture, Zhouyuan will enlarge its R&D ability and will increase its product capacity.
"We have been seeking such opportunities to expand our business horizontally. In fact, with our development, such acquisition and merge will be continued," said Mr. Wang Zhigang, President of SZSN, "We'll be able to achieve much more in the way of that, at least, in a short-term, we can significantly increase our sales in North and Central China through Aerospace Agriculture's brand and networks."
As a Hebei-based famous agriculture hi-tech company, Aerospace Agriculture's business covers aerospace breeding technology, the high-quality breed production, sales, and after-sales service, combining research, breeding, processing, and sales. Relying on its advanced technology, it serves the farmers distributed over twenty provinces in China.
About Shandong Zhouyuan Seed and Nursery Co., Ltd.
Shandong Zhouyuan Seed and Nursery Co., Ltd. (SZSN) is the large-sized hi-tech corporation, which is 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 the agriculture seeds development and distribution over more than twenty provinces in China. Now Zhouyuan ranks as 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.
For more information, please contact:
Mr. LIN Qi
Shandong Zhouyuan Seed and Nursery Co., Ltd.
Tel: +86-535-2212279
Email: linqi666666@126.com
Website: http://www.chinaseedcorp.com
