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Shandong Zhouyuan Seed
and Nursery Co., Ltd. Signs Letter
of Intent to Acquire 53.47% Stake
of Shijiazhuang Aerospace Agriculture
Technology Co., Ltd.
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
