SOURCE: China Metro-Rural Holdings Limited

China Metro-Rural Holdings Limited

August 04, 2011 09:31 ET

CNR's Private Placement

NEW YORK, NY--(Marketwire - Aug 4, 2011) - China Metro-Rural Holdings Limited (NYSE Amex: CNR) is pleased to announce the closing of a private placement of 2,000,000 ordinary shares of CNR at an offering price of US$2.50 per ordinary share. The private placement was offered to two investors outside of the United States pursuant to Regulation S.

Arthur Lee, CFO of CNR, notes, "CNR's ordinary shares were trading on the NYSE Amex at US$1.54 at closing on August 3, 2011 and the share offering price is at a 62.34% premium to that closing price." Arthur explains, "CNR intends to use the proceeds for the acquisition of land use right for Project Dezhou and general working capital."

ABOUT CHINA METRO-RURAL HOLDINGS LIMITED

China Metro-Rural Holdings Limited is one of the leading developers and operators of large scale, integrated agricultural logistics and trade centers in Northeast China that facilitate a relationship between sellers and buyers of agricultural commodities and small appliances, provide relevant physical platform and timely marketing information and intelligence, provide a transparent and competitive market price discovery mechanism and provide infrastructure to enhance the living standards of those from the rural area.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are, by their nature, subject to risks and uncertainties. This Act provides a "safe harbor" for forward-looking statements to encourage companies to provide prospective information about themselves so long as they identify these statements as forward-looking and provide meaningful cautionary statements identifying important factors that could cause actual results to differ from the projected results. All statements, including statements regarding industry prospects and future results of operations or financial position, made in this press release are forward looking.

Words such as "continue," "consider," "probably," "will," "strive" and similar expressions may identify forward-looking statements. These forward-looking statements include, without limitation, statements relating to: the Company's future performance, the Company's expansion efforts, the state of economic conditions, the Company's market and the governmental policy. These forward-looking statements are based on assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors the Company believes to be appropriate in particular circumstances. However, whether actual results and developments will meet the Company's expectations and predictions depends on a number of known and unknown risks and uncertainties and other factors, any or all of which could cause actual results, performance or achievements to differ materially from the Company's expectations, whether expressed or implied by such forward-looking statements.

Contact Information

  • CONTACT:
    China Metro-Rural Holdings Limited -- Investor Relations Department
    Phone: (852) 2111 3815
    E-mail: Email Contact