"The money that we receive from this additional financing will help sustain our rapid pace of growth," said Mr. Wu, Chairman and CEO of Yongye. "Our business has outgrown our current manufacturing capabilities, and we need to be able to supply our distribution network with more of our current products and new products which we are planning to produce in the future."
The securities issued in the private placement have not been registered under the United States Securities Act of 1933 or the securities laws of any other jurisdiction. Accordingly, these securities may not be sold by investors in the United States, except pursuant to an effective registration statement or an applicable exemption from the registration requirements.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Yongye Biotechnology International, Inc.
Yongye Biotechnology International, Inc., headquartered in Beijing, is engaged in the development, distribution and sales of fulvic acid based nutrients for plants and animals. The Company's patent pending processes and proprietary formulas allow it to create products which increase crop yields and improve the health of livestock. Its sole operating subsidiary, Yongye Nongfeng Biotechnology Company, Ltd., is located in Inner Mongolia. The Company sells its products through distributors and directly to farmers located in ten provinces throughout China.
Forward Looking Statements
Certain 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, forecas
|SOURCE Yongye Biotechnology International, Inc.|
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