Attached files
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| EX-10.1 - China Agri-Business, Inc. | v203058_ex10-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of
report (Date of earliest event reported): November 12, 2010
CHINA AGRI-BUSINESS,
INC.
(Exact
name of registrant as specified in Charter)
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Maryland
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333-140118
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20-3912942
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(State
or other jurisdiction of
incorporation
or organization)
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(Commission
File No.)
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(IRS
Employee Identification No.)
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In the
People’s Republic of China:
Building
2, Unit 1, 15th Floor
Ling Xian
Xin Cheng
86 Gaoxin
Road
Hi-Tech
Industrial Development Zone
Xian,
Shannxi, China 710065
In the
United States:
11 East 86th Street, New
York, New York 10028
(Address
of Principal Executive Officers)
In the
People’s Republic of China: (86) 029-68596556
In the United States: (212)
348-5600
(Registrant’s
telephone number, including area code)
N/A
(Former
Name and Former Address)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting material
pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR
240.14a-12(b))
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
1.01. Entry into a Material Definitive Agreement.
On
November 12, 2010, China Agri-Business, Inc. (the “Registrant”), through
its operating subsidiary Shaanxi Xinsheng Centennial Agriculture &
Technology Co., Ltd. (the “Company”), entered
into a Land Leasing Contract (the “Agreement”) with
Xi’an Shishang Weiyang Investment & Management, Inc. (the “Lessor”) pursuant to
which the Company agreed to lease 24 mu of land (one mu is equivalent to
approximately 0.165 acres) located in Zhongcha Village, Petrochemical Road,
Weiyang District, Xi’an, China (the “Land”). Pursuant to
the terms of the Agreement, the Company has the right to construct warehouses,
processing and distribution centers on the Land. The Company plans to build a
warehouse and distribution center for products of the Company and other
manufacturers.
The term
of the lease is twenty-one years, from November 12, 2010 through November 12,
2031. The Company is obligated to pay rent of RMB 360,000 per year. Rent for the
first ten years is payable in one lump sum, with RMB 200,000 due by
November 15, 2010 and the remaining RMB 3,400,000 due by November 30, 2010. The
annual rental will increase by 12% every three years starting on November 12,
2020.
Upon the
expiration of the Agreement, the Company has a right of first refusal to renew
the Agreement.
The
description of the Agreement in this current report is a summary and is
qualified in its entirety by the terms of the Agreement which is filed hereto as
Exhibit 10.1.
Item
9.01 Financial Statements and Exhibits.
(c) Exhibits.
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Exhibit
Number
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Description
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10.1
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Land
Lease Agreement, dated November 12,
2010.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this Report to be signed on its behalf by the undersigned hereunto
duly authorized.
Date:
November 17, 2010
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CHINA
AGRI-BUSINESS, INC.
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By:
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/s/ Xiaolong Zhou
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Name:
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Xiaolong
Zhou
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Title:
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Chief
Financial Officer
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EXHIBIT
INDEX
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Exhibit
Number
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Description
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10.1
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Land
Lease Agreement dated November 12,
2010
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