Dionics, Inc. Announces the Closing of the Previously Announced Acquisition of Shangrao Bai Hua Zhou Industrial Co., Ltd.
2012年7月4日 - 6:01AM
Dionics, Inc. ("Dionics") (OTCBB:DION) today announced the closing
of its previously announced acquisition of Shangrao Bai Hua Zhou
Industrial Co., Ltd., a company incorporated in the People's
Republic of China ("Shangrao"). The acquisition was accomplished
through the use of the VIE structure whereby Dionics issued a
combination of common and preferred shares representing 95% of its
equity interests in exchange for 100% of the issued and outstanding
shares of Bai Hua Zhou Green Resources (China) Investment Group
Limited, a company incorporated under the laws of the British
Virgin Islands. Bai Hua Zhou indirectly controls Shangrao through a
series of agreements generally referred to as "VIE" agreements.
Shangrao was founded by Ms. Li Xiaoling in November 2002. With
over ten years' growth, it has become a leading landscaping company
in East China with 2011 revenues in excess of $18 million. In
addition to providing complete landscaping services it raises its
own nursery stock holding rights to over 660 hectares on which it
cultivates a variety of trees, landscape plants, shrubs, flowers
and high-grade seedlings.
Mr. Bernard Kravitz, former President of Dionics stated: "We are
pleased to have completed this transaction which will allow our
shareholders to participate in what we believe will be an exciting
growth opportunity in China."
Certain matters discussed in this press release are
'forward-looking statements' intended to qualify for the safe
harbor from liability established by the Private Securities
Litigation Reform Act of 1995. In particular, the Company's
statements regarding trends in the marketplace, the ability to
realize firm backlog and projected backlog, potential future
results and acquisitions, are examples of such forward-looking
statements. The forward-looking statements are subject to numerous
risks and uncertainties, including, but not limited to, the timing
of projects due to variability in size, scope and duration, the
inherent discrepancy in actual results from estimates, projections
and forecasts made by management regulatory delays, changes in
government funding and budgets, and other factors, including
general economic conditions, not within the Company's control. The
factors discussed herein and expressed from time to time in the
Company's filings with the Securities and Exchange Commission could
cause actual results and developments to be materially different
from those expressed in or implied by such statements. The
forward-looking statements are made only as of the date of this
press release and the Company undertakes no obligation to publicly
update such forward-looking statements to reflect subsequent events
or circumstances.
CONTACT: Bernard Kravitz
(516) 997-7474
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