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China Organic Agriculture's New CEO Purchases 500,000 Shares
Wednesday November 5, 05:35 AM
China Organic Agriculture, Inc. (OTCBB: CNOA), a diversified food products company capitalizing on China's consumer revolution, today announced that its new CEO, Jinsong Li, purchased 500,000 shares of CNOA stock in a private transaction from an existing shareholder of CNOA.
Mr. Li made the purchase at a price equivalent to the 10-day trading average ending November 3, 2008. The purchase represents Mr. Li's initial equity stake in the Company.
"Establishing an equity position in CNOA has been a goal of mine since I first joined the Company," said Mr. Li. "I made this investment because China Organic is a promising agricultural company in the fast-growing Asian market and I strongly believe in the core strengths of our organization."
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 Kate Ou, 646-200-6322 kateou@chinaorganicagriculture.com or China America Financial Communications Group Darren Minton, 212-823-0523 chinaorganic@cafcg.com
Next Article: China Organic Agriculture Announces Third Quarter 2008 Financial Results
Previous article: China Organic Agriculture Completes Acquisition of Dalian Huiming Industry Ltd.
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