Austin, TX 12/13/2007 12:03:10 AM
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China Organic Agriculture In (OTCBB: CNOA)
China Organic Agriculture Announces Acquisition of Food Transportation Company Acquisition Will Allow Company to Expand Distribution Channels and Diversify Operations
JILIN, China, Dec 12, 2007 China Organic Agriculture, Inc., a growth-driven agricultural and products company leading China's organic foods revolution, today announced that the Company will acquire Dalian Baoshui District Huiming Trading Limited. Huiming ranks in the top 20 in net income and top 50 in revenue in the food transportation industry in the northeast provinces. In 2006, revenue was 40 million USD and 3.7 million USD in net income (unaudited). For the first 6 months of 2007, revenues of $24 million, net income of $2.6 million USD, an increase of 20% from previous year (unaudited). The acquisition is pending due diligence and is expected to be finalized within the next few weeks.
Dalian Baoshui District Huiming Trading Limited was established in July 2001. The Company's operations include food purchasing, local and international wholesale, transportation of food to enterprises, processing food products and distributing them throughout China. The Company manages the distribution of beans, corn, and processed food products in areas such as Liaoning Province, Jilin Province, Heilongjiang Province, Sichuan Province, Fujian Province, Beijing and Shanghai. Huiming's main customers are well established enterprises, comprising 80% of Huiming's total sales. Huiming has established a system for both local and international trade, distribution and sales, and processing. Its goal is the consolidation of its chain operations thereby solidifying their position in the food transportation industry.
"The completion of this acquisition allows us to expand our distribution channels and diversify our operations from a homogeneous product - rice" explained China Organic Chairman Huizhi Xiao. "Our Company will continue to target and acquire other food industry corporations to remain competitive and bring more product experience compared to other companies in the industry." About China Organic Agriculture China Organic Agriculture is among the largest producers of organic rice in China. CNOA controls all aspects of the process from seeds to planting and processing, R&D and sales. The Company also has an extensive sales network, located in the major cities in China.
CNOA has experienced significant growth since its inception in 2002, and as an agricultural company is exempt from taxes in China. CNOA has put solid plans in place to markedly expand revenues. The quality of CNOA's products results in the ability to command and receive prices 15% higher than comparables.
CNOA has in excess of 6260 acres dedicated to green and organic rice. The irrigation system is fed from the Nen River, one of the last unpolluted rivers in China, and no chemicals or fertilizers are used in the process. The Company's flagship brand, ErMaPao, has won several quality awards, holds the highest organic certification and is one of the most popular rice brands in the country.
For more information, please visit www.chinaorganicagriculture.com Mission Statement China Organic Agriculture, Inc. is firmly committed to increasing shareholder value through setting the next generation standard for quality organic food products in China and throughout the world.
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China 3C Group (OTCBB: CHCG)
China 3C Group Acquires Exclusive Selling Rights to Meizu Products in Two Major Retail Chains
ZHEJIANG PROVINCE, China, Dec 11, 2007 China 3C Group, a retailer and distributor of consumer and business products in China, announced today it had acquired exclusive selling rights to all Meizu products in two major retail chains in Eastern China.
Meizu is a manufacturer of portable multimedia electronics in China, such as MP3 players. In recent years, it has developed the reputation for its innovative products, with a large and loyal following of buyers in China.
The agreement provides for a one year right to act as a reseller for two retail chains in Eastern China: Hymall, a retail chain owned by Tesco, one of the world's largest retailers, and Auchan, a major French retail chain with a large presence in China.
China 3C CEO Wang said, "We are very pleased with this opportunity to sell Meizu products. Meizu is a leader in portable multimedia devices, and China 3C is a leader in electronics retailing. We believe that agreements such as this show that our company is increasingly seen by electronics manufacturers as a reliable retail channel to use when selling products in China." The agreement is for one year and is renewable annually.
About China 3C China 3C is a leading wholesale distributor and retailer of 3C merchandise: computers, communication products and consumer electronics. The company specializes in wholesale distribution and retail sales of 3C products in Eastern China, focusing on products that make life more comfortable, convenient and connected. The company's goal is to become the number one retailer of 3C products in China. For more information, visit http://www.china3cgroup.com.
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Utah Uranium Corp (OTCBB: UTUC)
DALLAS, Dec 11, 2007 Utah Uranium Corp. has been rated Speculative Buy with a price target of $2.10 by Beacon Equity Research Analyst, Victor Sula, PhD.
In the report, the analyst writes, "Utah Uranium Corp. (UTUC) is a natural resources company dedicated to the acquisition, exploration and development of uranium properties in the US. The Company's main focus is the acquisition of past-producing underground uranium mines and highly prospective new uranium projects, as well as vanadium projects. To date, UTUC has acquired mineral rights to 10,255 acres of leased or staked mineral uranium properties directly and through joint venture interests."
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