Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - Rodobo International Inc | rodo_8k.htm |
| EX-3.1 - EXHIBIT 3.1 - Rodobo International Inc | rodo_ex3x1.htm |
| EX-10.1 - EXHIBIT 10.1 - Rodobo International Inc | rodo_ex10x1.htm |
| EX-10.2 - EXHIBIT 10.2 - Rodobo International Inc | rodo_ex10x2.htm |
| EX-10.8 - EXHIBIT 10.8 - Rodobo International Inc | rodo_ex10x8.htm |
| EX-10.7 - EXHIBIT 10.7 - Rodobo International Inc | rodo_ex10x7.htm |
| EX-10.6 - EXHIBIT 10.6 - Rodobo International Inc | rodo_ex10x6.htm |
| EX-10.4 - EXHIBIT 10.4 - Rodobo International Inc | rodo_ex10x4.htm |
| EX-10.5 - EXHIBIT 10.5 - Rodobo International Inc | rodo_ex10x5.htm |
| EX-10.3 - EXHIBIT 10.3 - Rodobo International Inc | rodob_ex10x3.htm |
Exhibit
99.1
Rodobo
International, Inc. Completed Acquisitions
of
three Chinese Dairy Companies which will expand the company’s production
capacity from 200 tons to 1,200 tons per day
Nevada,
U.S. & Harbin, China—February 8, 2010--Rodobo International, Inc. (OTCBB:
RDBO) announced its completion of the acquisition of three dairy companies in
the People’s Republic of China (the “Acquisitions”), through the
mergers of Ewenkeqi Beixue Diary Co, Ltd ( “Ewenkeqi Beixue” ), Hulunbeier
Beixue Diary Co., Ltd (“Hulunbeier Beixue”), and
Hulunbeier Hailaer Beixue Diary Factory (“Hulunbeier Hailaer Beixue”,
and together with Ewenkeqi Beixue and Hulunbeier Beixue, are sometimes
hereinafter collectively referred to as “Beixue Group”) with and into
the Company’s wholly owned subsidiary Tengshun Technology and Development Co.,
Ltd. (“Tenhshun
Tech”). All three companies of Beixue Group are located in
Inner Mongolia, where is one of China’s largest suppliers of raw
milk. After the Acquisitions, Rodobo’s daily production capacity is
expected to increase by six folds, from the current 200 tons per day, to about
1,200 tons per day.
Pursuant
to the Equity Transfer Agreements entered into on February 5, 2010, the Company
paid RMB500,000 (approximately $73,236) in cash and issued 800,000 shares of the
Company’s common stock , par value $.0001 per share (the “Common Stock”) in exchange for
100% of the equity interest in Ewenkeqi Beixue; RMB1,000,000
(approximately $146,473) in cash and 1,000,000 shares of Common Stock in
exchange for 100% of the equity interest in Hulunbeier Beixue; and RMB600,000
(approximately $87,884) in cash, 8,800,000 shares of Common Stock and 2,000,000
shares of Series A Preferred Stock in exchange for 100% of the equity interest
in Hulunbeier Hailaer Beixue. Each share of the Series A Preferred stock has the
right to six votes per share, voting along with the Common Stock as one class,
but otherwise does not have any other rights of a shareholder. Based on
independent valuation reports issued by Beijing Haohai Tongfang Assets Appraisal
Co., Ltd, dated as of February 4, 2010, Ewenkeqi Beixue, Hulunbeier Beixue and
Hulunbeier Hailaer Beixue have a total net asset value of over USD 30
million.
Mr.
Yanbin Wang, the Chairman, Chief Executive Officer and a major stockholder of
Rodobo, owned 51% of the equity interest in Hulunbeier Beixue and Ewenkeqi
Beixue prior to the merger.
“We are
extremely happy to complete the acquisition of Beixue Group,” said Mr. Yanbin
Wang, Chairman and CEO of Rodobo, “It is an exciting milestone for the long term
growth strategy of Rodobo. We believe this synergic acquisition will
enable us to further consolidate our safe, secure and sustainable milk supply to
keep pace with the growing demand of our milk powder products for the Chinese
consumer. We expect that this acquisition will increases our
distribution channel as well as our production capacity. ” Mr. Wang concluded,
“We view the acquisition of the Beixue Group as a major opportunity to expand
our brand and make further inroads into the milk products market in
China.”
Complete
information regarding the acquisitions, as well as the terms of the equity
transfer agreements, securities purchase agreement, and Beixue’s audited
financial statements, will be disclosed in a Current Report on Form 8-K to be
filed by Rodobo with the Securities and Exchange Commission.
About
Rodobo
Rodobo is
a leading producer and distributor of powdered milk formula products in China.
The Company is currently one of the largest non-state-owned dairy companies in
China and its major products include Formula Milk Powder for infants, children,
middle-aged and elderly people in China and Whole Milk Powder.
About
Beixue Group
Beixue
Group is principally engaged in the production, manufacturing and distribution
of milk powder and is one of the largest companies in term of production
capacity based in Inner Mongolia Province. With more than 200 employees, Beixue
Group has raw milk processing capacity of 200 tons per day and has developed
markets in over 20 provinces.
Cautionary
Note Regarding Forward Looking Statements
This
press release and the statements of representatives of Rodobo International,
Inc., and related entities (collectively, the “Company”) related thereto
contain, or may contain, among other things, “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical fact included herein are
“forward-looking statements,” including statements regarding: the impact of the
acquisitions of the Beixue Group on the business and operations of the Company;
the ability of the Company to achieve its commercial objectives; the business
strategy, plans and objectives of the Company; and any other statements of
non-historical information. These forward-looking statements are subject to
significant involve known and unknown risks and uncertainties ad are often
identified by the use of forward-looking terminology such as “projects,” “may,”
“could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,”
“intends,” “plans,” or similar expressions. Although the Company believes that
the expectations reflected in these forward-looking statements are reasonable,
they do involve assumptions, risks and uncertainties, and these expectations may
prove to be incorrect. Investors should not place undue reliance on these
forward-looking statements, which speak only as of the date of this press
release. The Company’s actual results could differ materially from those
anticipated in these forward-looking statements as a result of a variety of
factors, including those discussed in the periodic reports that are filed with
the Securities and Exchange Commission and available on its website (http://www.sec.gov).
All forward-looking statements attributable to the Company or persons acting on
its behalf are expressly qualified in their entirety by these factors. The
Company undertakes no duty to update these forward-looking statements except as
required by law.
Contact:
Xiuzhen
Qiao
Rodobo
International, Inc.
Tel: +86-451-8226-5922
Email:
qiaozhen1973@163.com