More good news out today on CHCL-
(PR NEWSWIRE) China Continental to Receive First Tranche of US$100 Million MT
China Continental to Receive First Tranche of US$100 Million MTN Funding
HONG KONG, Feb. 18 /PRNewswire/ -- China Continental, Inc.
(OTC Bulletin Board: CHCL), currently in the process of expanding its
operations internationally, said yesterday that it will be receiving by next
week the first tranche of US$10 million of its US$100 million Medium Term Note
(MTN) funding. The MTN Agreement, which was recently finalized, will be used
to accelerate the Company's expansion plans to further enhance its
international presence. The total funding is anticipated to be complete
within six months.
"This MTN will provide China Continental with the necessary capital to
expand our business operations internationally," commented Mr. Harry H.H. Ho,
Chairman of China Continental, Inc.
In early February, the Company unveiled its plan to establish a strong
presence in Pakistan and to develop the dairy industry and related
infrastructure there. Yesterday, China Continental announced that it has
signed an agreement with Stock Links Investments Management Limited to acquire
a 10% stake in Pakistan-based Trust Investment Bank.
About China Continental, Inc.
China Continental, Inc., traded on the OTC Bulletin Board market since
1995, is a holding company with over ten years of experience in developing
turnkey businesses. Core activities include supplying manufacturing
technology on a turnkey basis, high technology manufacturing techniques in
primary industries, and developing and providing technologies in agricultural
genetics and farming. The Company's agricultural genetics and farming
activities are centralized in the Inner Mongolia Province of China, covering
an area of 406 square kilometers to commercialize its genetic techniques in
breeding as well as propagating superior livestock and products in its own
Research and Development Institute.
Safe Harbor Statement
Except for the historical statements made herein, the statements made in
this release are forward-looking statements, including, "be receiving by next
week the first tranche of US$10 million." Risk factors that could cause
actual results to differ materially from those projected in forward-looking
statements include, but are not limited to, the Company's ability to finalize
the terms of the MTN, capitalize on diversification opportunities, government
approvals, financing, general business conditions, managing growth, and
political and other business risks. Although the Company believes that the
forward-looking statements contained herein are reasonable, it can give no
assurance that the Company's expectations are correct. All forward-looking
statements are expressly qualified in their entirety by this Cautionary
Statement and the risks and other factors detailed in the Company's reports
filed with the Securities and Exchange Commission.
SOURCE China Continental, Inc.
-0- 02/18/2000
/CONTACT: Harvey A. Goralnick of FOCUS Partners LLC, 212-752-9445, or
chcl@focuspartners.com, for China Continental/
(CHCL)
CO: China Continental, Inc.
ST: China
IN: FIN
SU:
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