http://nz.biz.yahoo.com//081009/24/8i2l.html
China Organic Agriculture, Inc. (OTCBB: CNOA), a growth-driven
agricultural products company, today announced two new sales contracts
worth a combined $5 million, relating to over 8,000 tons of green rice
to be shipped by March 2009.
The contracts are with Beijing Jingu Hengfa Trading Co., Ltd.
("Beijing Jingu Hengfa") and Shenzhen Shenjinda Agricultural
By-Product Trading Co., Ltd. ("Shenzhen Shenjinda"). The contract with
Beijing Jingu Hengfa calls for 3,500 tons of green rice at roughly $2
million and the contract with Shenzhen Shenjinda calls for 5,200 tons
of green rice at roughly $3 million.
Both companies are well-regarded rice distributors in their
respective supply regions. Beijing Jingu Hengfa maintains distribution
channels near Beijing and China's northernmost provinces, while
Shenzhen Shenjinda focuses on the mainland's southern regions near
Hong Kong.
"It's exciting to see further sale contracts come through," said
Jinsong Li, Chief Executive Officer of China Organic. "These sales
will add to our fourth quarter financials, as well as our first
quarter for the year 2009. The contracts illustrate how Ankang
continues to execute sales targets as we benefit from the harvest
season in 2008."
About China Organic Agriculture
China Organic Agriculture is an active trader of agricultural
products in China. The Company's high-growth business plan is designed
to enable it to capitalize effectively on China's burgeoning economy
and expanding class of consumers with the ability to acquire upscale
products. The Company has developed an extensive distribution network
throughout many of China's major cities, including Beijing, Shanghai
and Nanjing, and is positioned to leverage those networks to establish
broad distribution of a number of agricultural, food and related
premium products. The Company has experienced significant growth since
its inception in 2002 and has implemented a number of strategic
initiatives to expand sales and revenues. For more information, please
visit: www.chinaorganicagriculture.com
FORWARD-LOOKING STATEMENTS: This document includes forward-looking
statements. Forward-looking statements include, but are not limited
to, statements concerning future acquisitions, estimates of, and
increases in, production, cash flows and values, statements relating
to the continued advancement of China Organic Agriculture's products
and other statements which are not historical facts. When used in this
document, the words such as "could," "plan," "estimate," "expect,"
"intend," "may," and similar expressions are forward-looking
statements. Although China Organic Agriculture Inc. believes that its
expectations reflected in these forward-looking statements are
reasonable, such statements involve risks and uncertainties and no
assurance can be given that actual results will be consistent with
these forward-looking statements. Important factors that could cause
actual results to differ from these forward-looking statements
include, but are not limited to, those set forth in our reports filed
with the Securities and Exchange Commission, together with the risks
discussed in our press releases and other communications to
shareholders issued by us from time to time, such as our ability to
raise capital as and when required, the availability of raw products
and other supplies, competition, the costs of goods, government
regulations, and political and economic factors in the People's
Republic of China in which our subsidiaries operate. Contact: China Organic Agriculture, Inc.
Steve Wan, 310-441-9777
stevewan@chinaorganicagriculture.com
or
China America Financial Communications Group
Darren Minton, 212-823-0523
chinaorganic@cafcg.com
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