-- SIAF Explores Beef Operation Acquisition: KPMG to Consult
GUANGZHOU, China, May 14, 2015 /PRNewswire/ -- Sino Agro Food,
Inc. (OTCQB: SIAF, also referred to herein as "SIAF" or the
"Company") is an integrated, diversified agriculture technology and
organic food company with principal operations as primary producer,
processor, and marketer of protein foods in the People's Republic of China ("PRC").
The Company is delighted that Mr. Peter
Rosta has accepted the position of Chairman of the Board of
its beef subsidiary, Qinghai Sanjiang A Power Agriculture
Development Co. Ltd. ("SJAP"). Mr. Rosta has a wealth of experience
and relationships in both Sweden
and China, where he has resided
for the past 20 years. He is a partner in Euro China Capital AB in
Sweden, and Director of the
Swedish Chamber of Commerce in China. He also serves as Director of several
companies based in Europe and
Asia, both private and public.
Formerly, for five years, he served as Trade Commissioner and Head
of the Swedish Trade Council in China and Hong
Kong.
The Xining Government has recommended that SJAP participate in
the acquisition of two beef subsidiaries of a state owned
enterprise, The Sanjiang Group ("SG"). SG is one of the largest
agriculture companies in China,
with total assets over $15 Billion.
Established in 1958, the two subsidiaries have long-term contracts
with the government, and have shown good operating profits. SIAF
has engaged Burnham Securities to assist in analyzing operating
synergies and efficiencies of the potential transaction.
In addition, the Company has engaged KPMG to conduct financial
due diligence on the merger and acquisition of the two
subsidiaries, as well as further consulting work at SJAP with the
aim to become its official auditor in 2016.
CEO Solomon Lee commented, "These
new developments bode well for refocusing expanding operations at
SJAP. They also validate and advance our strategic corporate
efforts. Mr. Rosta is a welcome addition to our team."
Mr. Rosta reflected, "I look forward to directing strategic
initiatives at SJAP. Like its parent company, SJAP faces a host of
exciting opportunities we intend to realize and bring to
appreciation in Asia and
Europe.
"SIAF is already well ahead of the food safety standards
stipulated by the Chinese government. We have set our sights much
higher, aiming to become an international leader in best practices
for food sustainability and environmentally friendly food
production."
About Sino Agro Food, Inc.
Sino Agro Food, Inc. is an agriculture technology and natural
food holding company with principal operations in the People's Republic of China. The Company
acquires and maintains equity stakes in a cohesive portfolio of
companies that SIAF forms according to its core mission to produce,
distribute, market and sell natural, sustainable protein food and
produce, primarily seafood and cattle, to the rapidly growing
middle class in China. SIAF
provides financial oversight and strategic direction for each
company, and for the interoperation between companies. The Company
owns or licenses patents, proprietary methods, and other
intellectual properties in its areas of expertise. SIAF provides
consulting and services to joint venture partners to construct and
operate food businesses, primarily producing wholesale protein
foods. Further joint ventures market and distribute the wholesale
products as part of an overall "farm to table" concept and business
strategy.
News and updates about Sino Agro Food, Inc., including key
information, are published on the Company's website
(http://www.sinoagrofood.com) and the Company's Facebook page
(www.facebook.com/SinoAgroFoodInc)
Forward Looking Statements
This release may contain forward-looking statements relating to
the business of SIAF and its subsidiary companies. All statements
other than historical facts are forward-looking statements, which
can be identified by the use of forward-looking terminology such as
"believes," "expects" or similar expressions. These statements
involve risks and uncertainties that may cause actual results to
differ materially from those anticipated, believed, estimated or
expected. These risks and uncertainties are described in detail in
our filings with the Securities and Exchange Commission.
Forward-looking statements are based on SIAF's current expectations
and beliefs concerning future developments and their potential
effects on SIAF. There is no assurance that future developments
affecting SIAF will be those anticipated by SIAF. SIAF undertakes
no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required under applicable securities
laws.
Not a Broker/Dealer or Financial Advisor
Sino Agro Food, Inc. is not a Registered Broker/Dealer or a
Financial Advisor, nor does it hold itself out to be a Registered
Broker/Dealer or Financial Advisor. All material presented in this
press release, on the Company's website or other media is not to be
regarded as investment advice and is only for informative purposes.
Readers should verify all claims and conduct their own due
diligence before investing in Sino Agro Food, Inc. Investing in
small-cap, micro cap and penny stock securities is speculative and
carries a high degree of risk.
No Offer of Securities
None of the information featured in this press release
constitutes an offer or solicitation to purchase or to sell any
securities of Sino Agro Food, Inc.