Sino Green Land Corporation Completes $2.6 Million Private Placement
20 Janeiro 2011 - 1:50PM
Sino Green Land Corporation (OTCBB:SGLA), a
leading distributor of high end fruits and vegetables in China,
today announced that it completed a $2.6 million private placement
with a group of accredited Chinese and Hong Kong investors. Sino
Green Land sold 13 million restricted shares of common stock at
$0.20 per share.
Mr. Xiong Luo, CEO of Sino Green Land, commented, "The
additional funding we received through this transaction will be
used to help finance our Metro Green hub, whose scale has been
expanded. The increased square footage will allow us to
accommodate what we see as demand from green food manufacturers,
distributors and wholesalers. We are on track to officially open
the hub in the first half of 2011."
Complete details of the private placement transaction are
available on the Company's Form 8-K filed with the Securities
Exchange Commission on January 18, 2011.
About Sino Green Land Corporation
Sino Green Land Corporation is a leading agricultural
distributor of high end fruits and vegetables in the People's
Republic of China. Since its inception in 2003, Sino Green Land has
grown from a small distributor of various produce to become a large
distributor of Fuji apples, emperor bananas and tangerine oranges.
In the process, Sino Green Land has built a solid reputation, a
sophisticated supply chain and a domestic distribution network
primarily in Beijing and Guangzhou.
The Sino Green Land Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8334
Safe Harbor Statement
This press release may contain forward-looking
statements. Such statements include, among others, those
concerning the company's expected financial performance and
strategic and operational plans, as well as all assumptions,
expectations, predictions, intentions or beliefs about future
events. Readers are cautioned that any such forward-looking
statements are not guarantees of future performance and that a
number of risks and uncertainties could cause actual results of the
Company to differ materially from those anticipated, expressed or
implied in the forward-looking statements. The words "believe,"
"expect," "anticipate," "project," "targets," "optimistic,"
"intend," "aim," "will" or similar expressions are intended to
identify forward-looking statements. All statements other than
statements of historical fact are statements that could be deemed
forward-looking statements. Risks and uncertainties that could
cause actual results to differ materially from those anticipated
include risks related to the company's ability to overcome
competition in its market; the impact that a downturn or negative
changes in the price of the company's products could have on its
business and profitability; the company's ability to simultaneously
fund the implementation of its business plan and invest in new
projects; economic, political, regulatory, legal and foreign
exchange risks associated with international expansion; or the loss
of key members of the company's senior management; any of the
factors and risks mentioned in its filings with the Securities and
Exchange Commission including the "Risk Factors" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" sections of the Company's amended annual report on Form
10-K/A filed on November 24, 2010 and the prospectus dated December
23, 2010. The Company assumes no obligation, and does not
intend, to update any forward-looking statements, except as
required by law.
CONTACT: Crescendo Communications, LLC
David Waldman or Vivian Huo
Tel: (212) 671-1020
Email: sgla@crescendo-ir.com
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