$ABAC recently sign LOI to acquire Hainan-Based Sp
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http://www.otcmarkets.com/stock/ABAC/news
WUHAN CITY, China, July 19, 2016 /PRNewswire/ -- Aoxin Tianli Group, Inc. (NASDAQ:ABAC) ("Aoxin Tianli" or the "Company"
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Pursuant to the LOI entered into on July 18, 2016 among Fengze and the three shareholders --Sheng Yang, Jun Yang, and Haicheng Pan, who collectively own 100% of the equity interest in Zaohuaxiang, Fengze will acquire a 51~60% equity interest in Zaohuaxiang for a combination of cash and stock (the "Transaction"
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Mr. Wocheng Liu, Chairman and Co-Chief Executive Officer of Aoxin Tianli, commented, "Zaohuaxiang is a well-known consumer brand with its specialty black hog pork products currently sold through both retail outlets and the internet, including China's leading e-commerce platform, Taobao.com. We are excited about the opportunity as we believe it represents a unique opportunity for us to expand our geographical outreach beyond the Hubei market while augmenting our specialty back hog and pork products portfolio. Upon completion of the Transaction, we intend to expand Zaohuaxiang's annual production capacity to 50,000 hogs."
About Hainan Chengmai Zaohuaxiang Hog Industry Co., Ltd.
Established in August 2010, Hainan Chengmai Zaohuaxiang Hog Industry Co., Ltd. ("Zaohuaxing"
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About Aoxin Tianli Group, Inc.
Aoxin Tianli Group, Inc. (the "Company"
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Forward-Looking Statements
This news release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulations, and other risks contained in reports filed by the company with the Securities and Exchange Commission. All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by this cautionary statement and any other cautionary statements which may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
For more information, please contact:
Tina Xiao
Weitian Group LLC
Phone: +1-917-609-0333
Email: tina.xiao@weitian-ir.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/aoxin-tianli-group-inc-signs-letter-of-intent-to-acquire-hainan-based-specialty-black-hog-farm-operator-300300443.html
SOURCE Aoxin Tianli Group, Inc.
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