NANCHANG, China, March 15 /PRNewswire-FirstCall/ - SkyBridge
Technology Group, Inc. (SKGO; http://www.skybridgetechgroup.com/)
announces that its Chinese subsidiary Jiangxi Sanhe Science and
Technology Co., Ltd. (Sanhe Tech; http://hgc11149.chinaw3.com/)
signed Investment Memorandum with a group of US Investors. Ms. Yang
Yu Fang CEO said, "This deal with US investors dates prior to the
Sanhe merger in SKGO and has been in the works for months. The deal
called for Sanhe principals to visit to the USA, in the middle of the merger process with
SKGO and for US investors to visit the company.
Under the terms of the agreement; the investors and the company
signed Investment Memorandum and intend to commit $5 million USD into Sanhe Tech.
Sanhe Tech will use this investment to expand their production
to meet the market demand for Plastic Lumber in the USA. The company already started negotiation
with the local government for land purchase to expand company
facilities. The company expects to close this land purchase in good
time and the results will be announced shortly.
Ms. Yang Yufang, concluded, "As a publicly traded company we are
gaining tremendous exposure on the international market and this is
one of the results. Our facility already reaches its maximum
capacity and we need to move forward to satisfy market demand.
Sanhe entered into expansion mode and we look forward to increase
our profits, our company's market value and value for the
investors."
Jiangxi Sanhe Science and Technology Co., Ltd. produces and
distributes environmentally friendly and recyclable 'plastic wood'.
This environmental product doesn't hold any toxic residues of
benzene, ammonia or formaldehyde, and it's entirely environmentally
friendly. This product suits flooring, ceilings, internal and
external wall panels, furniture, and other urban and rural
installations. The company products hold ISO9001-2000 quality
certification and ISO14001-2004 environmental certification and the
company received Jiangxi Province High-Tech Enterprise Certificate
in 2006.
This US investment in Sanhe does not encumber SKGO share
structure in any way, shape or form. All the share structure of
SKGO with this investment remains undisturbed.
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Safe Harbor Statement
Information in this news release may contain statements about
future expectations, plans, prospects or performance of SkyBridge
Technology Group Inc. that constitute forward-looking statements
for purposes of the Safe Harbor Provisions under the Private
Securities Litigation Reform Act of 1995. The words or phrases "can
be", "expects", "may affect", "believed", "estimate", "project" and
similar words and phrases are intended to identify such
forward-looking statements. SkyBridge Technology Group Inc.
cautions you that any forward-looking information provided by or on
behalf of SkyBridge Technology Group Inc. is not a guarantee of
future performance. None of the information in this press release
constitutes or is intended as an offer to sell securities or
investment advice of any kind. SkyBridge Technology Group Inc.'s
actual results may differ materially from those anticipated in such
forward-looking statements as a result of various important
factors, some of which are beyond SkyBridge Technology Group Inc.'s
control. In addition to those discussed in SkyBridge Technology
Group Inc.'s press releases, public filings, and statements by
SkyBridge Technology Group Inc.'s management, including, but not
limited to, SkyBridge Technology Group Inc.'s estimate of the
sufficiency of its existing capital resources, SkyBridge Technology
Group Inc.'s ability to raise additional capital to fund future
operations, SkyBridge Technology Group Inc.'s ability to repay its
existing indebtedness, the uncertainties involved in estimating
market opportunities, and in identifying contracts which match
SkyBridge Technology Group Inc.'s capability to be awarded
contracts. All such forward-looking statements are current only as
of the date on which such statements were made. SkyBridge
Technology Group Inc. does not undertake any obligation to publicly
update any forward-looking statement to reflect events or
circumstances after the date on which any such statement is made or
to reflect the occurrence of unanticipated events.
CONTACT: For any investor relations matters, please contact
www.minamargroup.net/helpdesk; Investor Relations Department
Inquiry,http://www.minamargroup.net (IR); For (M&A) and
Corporate Matters, http://www.minamargroup.com
SOURCE SkyBridge Technology Group Inc.