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China Organic Agriculture Signs Two New Sales
Contracts Worth a Combined $5 Million
Oct 09, 2008
China Organic Agriculture, Inc. (OTCBB:CNOA ),
a growth-driven agricultural products company, today announced two
new sales contracts worth a combined $5 million, relating to over
8,000 tons of green rice to be shipped by March 2009.
The contracts are with Beijing Jingu Hengfa Trading Co., Ltd.
("Beijing Jingu Hengfa") and Shenzhen Shenjinda Agricultural
By-Product Trading Co., Ltd. ("Shenzhen Shenjinda"). The contract
with Beijing Jingu Hengfa calls for 3,500 tons of green rice at
roughly $2 million and the contract with Shenzhen Shenjinda calls
for 5,200 tons of green rice at roughly $3 million.
Both companies are well-regarded rice distributors in their
respective supply regions. Beijing Jingu Hengfa maintains
distribution channels near Beijing and China´s northernmost
provinces, while Shenzhen Shenjinda focuses on the mainland´s
southern regions near Hong Kong.
"It´s exciting to see further sale contracts come through," said
Jinsong Li, Chief Executive Officer of China Organic. "These sales
will add to our fourth quarter financials, as well as our first
quarter for the year 2009. The contracts illustrate how Ankang
continues to execute sales targets as we benefit from the harvest
season in 2008."
About China Organic Agriculture
China Organic Agriculture is an active trader of agricultural
products in China. The Company´s high-growth business plan is
designed to enable it to capitalize effectively on China´s
burgeoning economy and expanding class of consumers with the ability
to acquire upscale products. The Company has developed an extensive
distribution network throughout many of China´s major cities,
including Beijing, Shanghai and Nanjing, and is positioned to
leverage those networks to establish broad distribution of a number
of agricultural, food and related premium products. The Company has
experienced significant growth since its inception in 2002 and has
implemented a number of strategic initiatives to expand sales and
revenues. For more information, please visit:
www.chinaorganicagriculture.com
FORWARD-LOOKING STATEMENTS: This document includes forward-looking
statements. Forward-looking statements include, but are not limited
to, statements concerning future acquisitions, estimates of, and
increases in, production, cash flows and values, statements relating
to the continued advancement of China Organic Agriculture´s products
and other statements which are not historical facts. When used in
this document, the words such as "could," "plan," "estimate,"
"expect," "intend," "may," and similar expressions are
forward-looking statements. Although China Organic Agriculture Inc.
believes that its expectations reflected in these forward-looking
statements are reasonable, such statements involve risks and
uncertainties and no assurance can be given that actual results will
be consistent with these forward-looking statements. Important
factors that could cause actual results to differ from these
forward-looking statements include, but are not limited to, those
set forth in our reports filed with the Securities and Exchange
Commission, together with the risks discussed in our press releases
and other communications to shareholders issued by us from time to
time, such as our ability to raise capital as and when required, the
availability of raw products and other supplies, competition, the
costs of goods, government regulations, and political and economic
factors in the People´s Republic of China in which our subsidiaries
operate.
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