SOURCE: Sino Green Land Corp.

January 14, 2010 08:32 ET

Sino Green Land Receives Additional $1 Million From Investors; Proceeds to Help Accelerate Build Out of China Green Food Distribution Hub

NEW YORK, NY and GUANGZHOU, CHINA--(Marketwire - January 14, 2010) - Sino Green Land Corporation (OTCBB: SGLA), a leading distributor of high-end fruits and vegetables in China, today reported that T Squared Investments LLC ("T Squared Partners") has exercised its investment rights in connection with a private placement completed in August 2009 to invest another $1.0 million into Sino Green Land. Proceeds will be used to help fund the build out of the company's recently announced China Green Food Distribution Hub, which is being constructed in the Guangzhou Yuncheng Wholesale Market. Once complete, the hub will cover 20 thousand square meters of floor area and will cater to both wholesale and retail customers.

Mr. Anson Fong, Chairman of Sino Green Land, stated, "T-Squared Partners has been a strong supporter of our company and the proceeds of this latest financing will help to accelerate the build out of our new China Green Food Distribution Hub. The new distribution hub will allow us to broadly distribute green foods, a high growth food category in China. Green food certification is based on strict government standards involving the growth, processing, packing and transportation of food products. Green foods designation requires that food products meet very high standards relating to the use of safe fertilizers, additives, and pesticides, to prevent poisons and harmful elements from contaminating the products."

"Currently, there are over 6,000 certified manufacturers of green foods in China and over 17,000 green food items, accounting for annual sales of over RMB JPY250 billion or USD $35 billion. Upon completion of the China Green Food Distribution Hub, Sino Green Land will be uniquely positioned to offer a broad array of these high margin healthy foods by utilizing the procurement network of the China Green Food Association. We chose the Guangzhou Yuncheng Wholesale Market as the site of our first distribution hub, since it is one of the largest fruit wholesale markets in Guangdong province, and covers the Pearl River Delta, Hong Kong and Macao. The launch of the China Green Food Distribution Hub is on track and we expect it to open in the second half of 2010."

About Sino Green Land Corporation

Sino Green Land Corporation is a leading agricultural distributor of high end fruits and vegetables in the People's Republic of China. Since its inception in 2003, Sino Green Land has grown from a small distributor of various produce to become a large distributor of high end fruits such as: Fuji apples, emperor bananas and tangerine oranges. In the process, Sino Green Land has built a solid reputation, a sophisticated supply chain and a distribution network that stretches from Beijing to Guangzhou.

This press release may contain forward-looking statements. Such statements include, among others, those concerning the company's expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results of the Company to differ materially from those anticipated, expressed or implied in the forward-looking statements. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those anticipated include risks related to the company's ability to overcome competition in its market; the impact that a downturn or negative changes in the price of the company's products could have on its business and profitability; the company's ability to simultaneously fund the implementation of its business plan and invest in new projects; economic, political, regulatory, legal and foreign exchange risks associated with international expansion; or the loss of key members of the company's senior management; any of the factors and risks mentioned in the "Risk Factors" sections of the Company's amended current report on Form 8-K/A filed on April 24, 2009. The Company assumes no obligation, and does not intend, to update any forward-looking statements, except as required by law.

Contact Information

  • Contact:
    Crescendo Communications, LLC
    David Waldman
    or Klea Theoharis
    Tel: (212) 671-1020
    E-mail: sgla@crescendo-ir.com