Attached files
file | filename |
---|---|
8-K - CURRENT REPORT - CHINA YIDA HOLDING, CO. | f8k0110_chinayida.htm |
EX-10.1 - PLACEMENT AGENCY AGREEMENT, - CHINA YIDA HOLDING, CO. | f8k0110ex1i_chinayida.htm |
EX-5.1 - OPINION OF ANSLOW & JACLIN, LLP - CHINA YIDA HOLDING, CO. | f8k0110ex5i_chinayida.htm |
EX-10.2 - SUBSCRIPTION AGREEMENT - CHINA YIDA HOLDING, CO. | f8k0110ex10i_chinayida.htm |
Exhibit
99.1
For
Immediate Release
Contact:
China Yida Holdings
George Wung, CFO
Phone: +1(909) 843-6358
Email: ir@yidacn.net
|
CCG
Investor Relations
Crocker Coulson, President
Phone: + (1) 646-213-1915
Ed Job, CFA
Phone: + (1) 646-213-1914
Email: ed.job@ccgir.com
|
China
Yida Announces Pricing of Secondary Public Offering of Common Stock
FUZHOU, China — January 22,
2010 — China Yida Holding Company (Nasdaq: CNYD) (“China Yida” or the
“Company”), a leading diversified entertainment enterprise in China, today
announced a registered direct offering of shares of its common stock at a
purchase price of $11.50 per share for aggregate proceeds of approximately up to
$29 million. China Yida intends to use the net proceeds for working capital and
other general corporate purposes.
The
offering is expected to close on January 27, 2010, subject to customary closing
conditions. The shares in this offering were issued under a shelf registration
statement previously filed with, and declared effective by, the Securities and
Exchange Commission (the "SEC").
Newbridge
Securities Corporation acted as exclusive placement agent in connection with the
offering. A prospectus supplement related to the public offering will be filed
with the SEC and the prospectus supplement and the accompanying base prospectus
will be available on the SEC’s website, www.sec.gov. Copies of the prospectus
supplement and accompanying base prospectus relating to this offering may be
obtained from the offices of Newbridge Securities Corporation at 7600 Jericho
Tpk, Suite 202 Woodbury, NY 11797.
This
press release shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such state or
jurisdiction. Any offer will be made only by means of a prospectus,
including prospectus supplement, forming a part of the effective registration
statement.
About
China Yida
China
Yida is a leading diversified entertainment enterprise focused on China’s
fast-growing media and tourism industries and headquartered in Fuzhou City,
Fujian province of China. The Company’s media business provides operations
management services; including channel, column and advertisement management for
television station, presently the Fujian Education Television Station (“FETV”, a
top-rated provincial education television channel), and “Journey through China
on the Train” (an advertisement-embedded travel program, currently the only
on-board media program from third party authorized by Ministry of Railways).
Additionally, the Company provides tourism management services, and specializes
in the development, management and operation of natural, cultural and historic
scenic sites. China Yida currently operates the Great Golden Lake tourist
destination (Global Geopark, including Golden Lake, Shangqing River, Zhuanyuan
Rock, Luohan Mountain and Taining Old Town.), Hua’An Tulou tourist destination
(World Culture Heritage, including Dadi Tulou cluster and the Shangping Tulou
cluster), and China Yunding tourist destination (National Park, including
Colorful Rock Valley, Yunding Paradise, Yunding Waterfall, South Heavenly
Mountain, and Seven Star Lake). The Company’s operating scenic sites are over
300 square kilometers in the area. For further information, please contact the
Company directly, or visit its Web site at http://www.yidacn.net.
Forward-Looking
Statements
Certain
statements in this press release that are not historical facts are
“forward-looking statements” within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements may be identified by the use of
words such as “anticipate, “believe,” “expect,” “future,” “may,” “will,”
“would,” “should,” “plan,” “projected,” “intend,” and similar expressions. Such
forward-looking statements, involve known and unknown risks, uncertainties and
other factors that may cause the actual results, performance or achievements of
the Company to be materially different from those expressed or implied by such
forward-looking statements. The Company can not guarantee that it will achieve
these plans, intentions or expectations.
The
Company’s future operating results are dependent upon many factors, including
but not limited to: (i) the Company’s ability to obtain sufficient capital or a
strategic business arrangement; (ii) the Company’s ability to build and maintain
the management and human resources and infrastructure necessary to support the
anticipated growth of its business; (iii) competitive factors and developments
beyond the Company’s control; and (iv) other risk factors discussed in the
Company’s periodic filings with the Securities and Exchange Commission, which
are available for review at www.sec.gov. These uncertainties and
risks may cause the Company’s actual future results to be materially different
than those expressed in its forward-looking statements. Readers are cautioned
not to place undue reliance on these forward-looking statements, which speak
only as of the date the statement was made. The Company undertakes no
obligation to update such forward-looking statements or any of such risks,
uncertainties and other factors in light of new information, future events or
otherwise, except as required by law.
###