Company Expects Sales of Ice and Premium Wines to Contribute to
Revenue Growth in 2009
China Organic Agriculture, Inc. (OTCBB: CNOA), a diversified food
products company capitalizing on China's consumer revolution, today
announced that its recently formed Asia Star Ice Wine joint venture held
its initial development meeting.
“With the joint venture management in place, China Organic expects the
production from Asia Star to lay the groundwork for further revenue
growth in 2009,” said Jinsong Li, Chief Executive Officer of China
Organic. “ The production of premium and ice wines from Asia Star will
ensure that we further diversify our product mix of premium and natural
foods.”
The Asia Star meeting included Mr. Li and Weihong Xia, the newly
appointed CFO of China Organic, as well as company directors Mingjie Han
and Jingyu Liu. Along with finalizing budgets for production and
operations, sales targets were established. The wine production process
for a new batch of grapes is expected to commence before the end of the
year.
The core businesses of the newly formed joint venture company will be
engaged in the following activities: processing and distribution of red
wine, ice wine, blueberry ice wine, and blueberry drinks; cultivation,
processing and distribution of grapes and blueberries.
About China Organic Agriculture
China Organic Agriculture is a food products company capitalizing on
China’s domestic demand for premium products due to an expanding class
of consumers with the ability to acquire premium food products.
The Company has developed a distribution network throughout China
including Beijing, Shanghai and Nanjing. The Company is positioned to
leverage this network to increase market penetration with broad
distribution of agricultural, food and related premium products. The
Company has experienced considerable growth since its inception and
continues to implement a number of strategic initiatives to further
expand revenues and earnings. For more information, please visit: www.chinaorganicagriculture.com.
FORWARD-LOOKING STATEMENTS: This document includes forward-looking
statements. Forward-looking statements include, but are not limited to,
statements concerning future acquisitions, estimates of, and increases
in, production, cash flows and values, statements relating to the
continued advancement of China Organic Agriculture’s products and other
statements which are not historical facts. When used in this document,
the words such as "could," "plan," "estimate," "expect," "intend,"
"may," and similar expressions denote forward-looking statements.
Although China Organic Agriculture Inc. believes that its expectations
reflected in these forward-looking statements are reasonable, such
statements involve risks and uncertainties and no assurance can be given
that actual results will be consistent with these forward-looking
statements. Important factors that could cause actual results to differ
from these forward-looking statements include, but are not limited to,
those set forth in our reports filed with the Securities and Exchange
Commission, together with the risks discussed in our press releases and
other communications to shareholders issued by us from time to time,
such as our ability to raise capital as and when required, the
availability of raw products and other supplies, competition, the costs
of goods, government regulations, and political and economic factors in
the People's Republic of China in which our subsidiaries operate.
China Organic Agriculture, Inc.
Kate Ou, 646-200-6322
kateou@chinaorganicagriculture.com
