SHANGHAI, Aug. 19 /PRNewswire-Asia/ -- Sunrise Real Estate Group, Inc. (OTC Bulletin Board: SRRE; website: http://www.sunrise.sh ) announces that on August 17, 2009, the Share Purchase Agreement with Whole World Holding Corporation, as announced on March 13, was terminated due to relevant Funds not being received by Sunrise on the Closing Date.
Previously, on March 10, 2009, Sunrise entered into a Share Purchase Agreement with Whole World Holding Corporation to issue 57 million shares to Whole World for US$20 million (the "Funds"). This agreement, subject to standard closing terms and conditions, was scheduled to close on or before May 17, 2009 (the "Closing Date"). The Closing Date for the Share Purchase Agreement was subsequently extended to August 17, 2009.
Forward Looking Statements
The common stock of Sunrise Real Estate Group, Inc. is quoted and traded on the OTC Bulletin Board under the trading symbol "SRRE". This press release contains forward-looking information within the meaning of section 29A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forwarding-looking statements include statements concerning plans, objectives, goals, strategies, future events or performances and underlying assumption and other statements, which are other than statements of historical facts. Certain statements contained herein are forward-looking statements and, accordingly, involve risks and uncertainties, which could cause actual results, or outcomes to differ materially from those expressed in the forward-looking statements. The Company's expectations, beliefs and projections are expressed in good faith and are believed by the Company to have a reasonable basis, including without limitations, management's examination of historical operating trends, data contained in the Company's records and other data available from third parties, but there can be no assurance that management's expectations, beliefs or projections will result, or be achieved, or accomplished.
For more information, please contact:
Lyman Huang,
Sunrise Real Estate Group, Inc.
Tel: +86-21-6422-0505 x105
Email: ir@sunrise-sh.net
Web: http://www.sunrise.sh
