First Growth Holdings Ltd.
TSX VENTURE : FGH

First Growth Holdings Ltd.

November 06, 2015 19:16 ET

First Growth Announces Intention to Purchase Minority Interest in Subsidiary and New Vice President Human Resources

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 6, 2015) -

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First Growth Holdings Ltd. (TSX VENTURE:FGH) ("First Growth" or the "Company") announces that it intends to purchase the 30% minority interest in its subsidiary, Jiayuan International Trade (Shanghai) Co. Limited ("Jiayuan") to make it a wholly owned subsidiary. Jiayuan continues to develop its business of importing wine to China, including participation in the 93rd China Food & Drinks Fair in Nanjing, China, where it promoted the brand in China "Arbos" and announced new relationships with Castellani Winery and Tenuta Degli Dei from Italy, which is owned by fashion designer Roberto Cavalli. Jiayuan continues to develop its list of suppliers and distribution options in China's fast growing wine market.

In other news, the Company has invited Mr. Gong (Michael) Chen to join the board of directors. Keith Leech has been appointed to the new position of Vice President of Human Resources and Administration. Keith has over 30 years in human resources management coupled with extensive business management experience in a number of manufacturing and service industries, including management positions with Eurocan Pulp & Paper, West Fraser Mills Ltd., I.C.B.C., Lafarge North America, Slocan Forest Products Ltd. and Canadian Forest Products Ltd. Ms. Ting Zhao has been promoted to CEO Assistant and President of Jiayuan. Ting Zhao is based in Shanghai and will serve as the liaison between the management teams in Canada and China.

First Growth is a Canadian-based company that identifies and develops strong brands in the Canadian and international markets. First growth's brands have a global reach in today's modern world with the rapid adoption of social media and advancements in technology. First Growth recognizes the potential for its brands to penetrate international markets and will be focused on developing each one of its brands to its fullest potential.

ON BEHALF OF FIRST GROWTH HOLDINGS LTD.:

Han Liang Pan, Chairman of the Board of Directors

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

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