SHENZHEN, CHINA--(Marketwired - Nov 27, 2015) - Resort Savers, Inc. (OTCQB: RSSV), a strategic investment and development company, today clarified its September 16, 2015 press release announcing its acquisition of Shenzhen Amuli Industrial Development Co. Ltd. (Amuli), a large producer of Kvass health and wellness drinks. Certain details of the original press release were issued in error, and should not be relied upon an as indication of future performance by the Company.
The original press release issued stated that Resort Savers, Inc. purchased a majority interest in Amuli, which was an error. Due to restrictions on foreign ownership of operating Chinese companies, Resort Savers, Inc., a Nevada corporation, was prohibited from purchasing a majority interest in Amuli.
Rather, the Company's wholly-owned subsidiary, Xing Rui International Investment Holding Group, Ltd., through its newly formed a Peoples Republic of China corporation subsidiary, Hua Xin Chang Rong (Shenzhen) Technology Service Company Limited ("Hua Xin Chang"), purchased the sixty percent majority interest in Amuli. The transaction closed upon the issuance of the shares of the Company's common stock and the transfer of the shares of Amuli to Hua Xin Chang in October.
Moreover, the previous press release stated that Amuli was generating profit which was also in error. Amuli has yet to realize any sales or profit. Sales are expected to begin in 2016.
About Resort Savers, Inc.
Resort Savers, Inc. (RSSV) is a strategic acquisition and development company focused on identifying and acquiring high demand, revenue-generating assets. RSSV is currently developing and investing in the oil and gas industry, real estate development and is set to enter the cardboard packaging industry by acquiring Kashi. For more information on Resort Savers, Inc. please visit http://www.resortsaversinc.com.
About Shenzhen Amuli Industrial Development Co. Ltd.
Shenzhen Amuli is a health beverage manufacturer and distributor in China. Shenzhen Amuli's leading products are its line of Kvass health and wellness drinks. Shenzhen Amuli's Kvass is made with the finest grains, water and honey giving it a delicious and refreshing taste. http://www.shenzhenamuli.com
Forward-Looking Statements
Except for the historical matters contained herein, this release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts, including, without limitation, statements that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development, may be deemed to be forward-looking statements. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. These statements are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. Except as may be required under applicable law, we assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. This release should be read in conjunction with Resort Savers' Annual Report on Form 10-K and its other filings with the U.S. Securities and Exchange Commission through the date of this release, which identifies important factors that could affect the forward-looking statements in this release.