owder nutrient compounds used in the
agriculture industry. Based on industry research and government testing,
Yongye believes its proprietary technology for fulvic acid extraction
creates some of the purest and most bioactive fulvic acid and thus some of
the most effective plant and animal nutrients on the market in China.
Yongye provides our customers with consistently high quality products due
to the vertical integration of our manufacturing process from the design of
the raw materials production line to the packaging of the finished goods.
Mr. Wu, the Chief Executive Officer and Chairman of Yongye stated, "We
would like to thank our placement agent, ROTH Capital Partners, LLC for
facilitating our efforts in connection with the financing and going public
transaction. We also want to thank all of our new investors who have put
their trust in our company and our management team. Our goal is to create
value for our shareholders by capitalizing on significant growth
opportunities in our market and we will use our access to the U.S. capital
markets to help accomplish this."
ROTH Capital Partners, LLC acted as the placement agent in the $10.0
million financing transaction.
The $10.0 million transaction includes a "make good" provision based on
the achievement of a net income target for the Company's 2008 fiscal year.
Should the Company not achieve $10.3 million in fiscal 2008 net income, the
purchasing shareholders in this transaction will receive 2,000,000 shares
from the original shareholder for no additional consideration.
FORWARD LOOKING STATEMENTS
Certain of the statements set forth in this press release constitute
"Forward looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include, without
limitation, any statement that may predict, forecast, indicate, or imply
future results, performance or achievements, and may contain the words
"estimate," "project," "inte
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|SOURCE Yongye Biotechnology International, Inc.|
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