BEIJING, Sept. 1 /Xinhua-PRNewswire-FirstCall/ -- Tai Na International Fruits (Beijing) Co. Ltd. ("Tai Na International") (OTC Bulletin Board: CHFR) and the China National Green Food Industrial Limited Company ("Green Industry") signed a letter of intent on strategic partnership on August 29, 2008. Pursuant to the letter, the two parties reached a preliminary consent on issues such as building a base for place-of-origin fruit, distribution of the base products in Beijing, store sharing and cooperative operation, as well as the acquisition of certain Green Industry assets by Tai Na International. This agreement is conducive for Tai Na International to further explore the North China market, expand Tai Na product’s market share and increase its brand awareness, while providing a powerful guarantee for "Tai Na International" fruits, which are "green, pollution-free, organic and healthy."
Established in 1994, China National Green Food Industrial Limited Company is headquartered in Beijing. It is a state-owned enterprise mainly engaged in the development of green food and related industries and import and export of green food. It boasts the initiator, advocator and practitioner of China Green Food Movement. Its main businesses include production of green food, distribution to supermarkets and imports and exports.
About Tai Na International
Tai Na International Fruits (Beijing) Co. Ltd. ("Tai Na International"), located in Beijing, China, is a wholly-owned subsidiary of China Fruits Corp. The registered capital of Tai Na International is RMB 10 million (approximately USD 1,400,000). The company’s major business is handling famous, special and high-quality fruits from places-of-origin at home and abroad. It is devoted to the creation of China’s fruit brand and building up China’s fruit chain stores, and boasts an enterprise integrating fruit cultivation, processing & distribution, franchises, online, television and telephone shopping. Through brand franchise and by adhering to the principle of "base standardization, product standardization, sales at scale, market internationalization and management modernization," Tai Na makes value-added products and benefits from its brand.
China Fruits Corp. currently has 36,129,689 issued and outstanding shares of common stock that trade on the Over-The-Counter Bulletin Board under the symbol ‘CHFR’.
Forward-looking Statements
This report 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 report are forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors; developments of the Chinese, European 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.
