Sino Green Land Corporation Completes $1M Private Placement
NEW YORK, NY and GUANGZHOU, CHINA — Sino Green Land Corporation, a leading distributor of high end fruits and vegetables in China, announced that it completed a private placement with a group of institutional investors, (“T Squared Partners”), in the upfront amount of $1 million, along with additional investment rights and warrants to invest another $4.9 million into the company for growth capital purposes.
Mr. Anson Fong, Chairman of Sino Green Land, commented, “Since founding the company in 2003, we have experienced exceptional growth due to our highly scalable business model. In the last year alone, we achieved sales growth of over 70%, with revenue of $73.6 million and net income of $4.6 million for the twelve months ended December 31, 2008. We have established ourselves as a leading distributor of high end fruits and vegetables in China through our unique relationship with China’s Ministry of Agriculture and local municipal governments, which has allowed us to enter into favorable long-term cooperation agreements with local farmers. We provide these farmers with tools to increase their productivity, including higher margin crops and technologies to increase their yield. In turn, these long-term cooperation agreements with local farmers throughout China provide us a steady supply of fruits and vegetables at stable prices. As a result, we have built a sustainable and high margin distribution model. We appreciate the support of T Squared and the other investors in this financing, as it provides us expansion capital to accelerate our growth plans.” Jake Evanss, CEO of PPM, stated that “The agricultural market in China will continue to be a large growth driver for the industry for years to come.”
Details of the private placement are available on the company’s form 8-K filed with the Securities Exchange Commission on August 13, 2009. The securities sold in the private placement have not yet been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States in the absence of an effective registration statement or exemption from registration requirements.
About Sino Green Land Corporation
Sino Green Land Corporation is a leading agricultural distributor of high end fruits and vegetables in the People’s Republic of China. Since its inception in 2003, Sino Green Land has grown from a small distributor of various produce to become a large distributor of high end fruits such as: Fuji apples, emperor bananas and tangerine oranges. In the process, Sino Green Land has built a solid reputation, a sophisticated supply chain and a distribution network that stretches from Beijing to Guangzhou.
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