Yangling, Shaanxi, Dec. 15, 2020 (GLOBE NEWSWIRE) -- Kiwa Bio-Tech Products Group Corp. (PINK: KWBT) (“Kiwa Bio-Tech” or ‘the Company”), an emerging agricultural company that develops, manufactures and sells bio-fertilizers is pleased to announce that the Global Holding Group will participate in the restructuring of Kiwa Bio-Tech.
Recently, the company and its strategic partner Shaanxi Xibaokun Agricultural Technology Co., Ltd., (“Xibaokun”), and the Global Holding Group have jointly established an industrial fund to promote the development of the new fertilizer industry in China based on the foundation of Kiwa Bio-Tech’s twenty-year biotechnology. They also participated in the Company’s restructuring process and a cooperation agreement was signed after several months’ discussions.
The new fertilizer industry has taken a leading position in the field of agriculture and environmental protection, such as food safety control, soil remediation and treatment, improvement of crop quality, and protection of consumer health. Mr. Shizun Cai, the independent director and co-chairman of Global Holding Group stated that “the corporation is aimed to promote the integration of the new fertilizer industry and environmental protection industry by using the planned industrial funds as well as Kiwa’s state-of-the-art biotechnology. This cooperation will play a huge role in promoting the development of both industries, which have trillion RMB market. The goal of this cooperation is to make full use of the superior resources of all parties and establish a new standard and rule for the operation of this new fertilizer industry.”
Under the terms of the agreement, the planned industrial fund will be used in the Company’s China operation restructuring. The Global Holding Group will hold 49 percent of the restructured Company. Kiwa will immediately resume the financial reports reporting after the restructuring. Along with this restructuring, Kiwa’s sales will be gradually entered into the Global Holding Group's network in China and the previous cooperation between Kiwa and Rong’s Family Group will also be initiated.
Forward-Looking Statements
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described by the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the U.S. Securities and Exchange Commission. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company’s actual results may differ materially from those anticipated in the forward-looking statements depending on a number of risk factors including, but not limited to, the following: general economic, business and environment conditions, development, shipment, market acceptance, additional competition from existing and new competitors, changes in technology, the execution of its ten-year growth plan, the foreign exchange risk amid the unexpected announcements by the PRC government and various other factors beyond the Company’s control. Kiwa Bio-Tech Products Group Corp. specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.
For investor and media inquiries, please contact:
Gabby Yuan
Email: gabby@kiwabiotech.com
