Company Press Release
SOURCE: China Continental, Inc.
Venture Capital Fund to Acquire a Significant Stake
in China Continental
HONG KONG, Feb. 25 /PRNewswire/ -- China Continental, Inc. (OTC Bulletin Board: CHCL - news) announced
today that it is in negotiations with a venture capital fund to acquire a significant stake in China Continental.
This investment will provide additional capital for China Continental that will primarily be utilized in its dairy project
in Pakistan. The fund will also participate in the management of the project.
China Continental, as previously announced, is currently planning to manage a dairy farm project in Pakistan as part of
its strategy to expand its business operations internationally. The venture, combined with related infrastructure projects,
may result in a $1 billion investment. The purpose of the investment is to meet the demand for local and export
markets. The dairy farm will concentrate on improving the quality of dairy products and increasing the yield to meet
market demands. The project may produce up to 100,000 tonnes of dairy products, including liquid milk and powder
milk, per year.
''The fresh capital injection will give China Continental an advantageous boost to expand our business. As the current
supply of dairy products in Pakistan is unable to meet the demands of the local market, we see a significant opportunity
in addressing this issue. China Continental and Stock Links Investment Management Limited of Pakistan, CHCL's
Financial Advisor in connection with the completion of the Master Plan for the project, jointly carried out a feasibility
study. Assuming a smooth implementation of our plan, the study indicated that China Continental could derive revenue
of approximately US$300 million annually, once in full operation,'' commented Mr. Harry H.H. Ho, Chairman of
China Continental, Inc.
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, ''acquire a significant stake in China Continental,'' ''total investment of $1 billion,'' ''may produce up to
100,000 tonnes of dairy products per year,'' and ''$300 million in revenue.'' 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 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. |
