Yangtze River Port and Logistics Limited is Planning and Developing to Enhance the Blockchain Technology in Logistics System ...
February 14 2018 - 8:09AM
Yangtze River Port and Logistics Limited, (YRIV) (the “Company”),
an international infrastructure company that engages in the
business of real estate development via a port logistics project
located in the middle reaches of China’s Yangtze River in Wuhan,
China, today announced that the Board of Directors of the Company
has authorized the Company to pursue a plan for a “spin-off”
transaction (the “Spin-Off”) involving Yangtze River
Blockchain Logistics Limited (the “Subsidiary”), a
wholly-owned subsidiary of the Company. Pursuant to the
Spin-Off, shares of the Subsidiary will be distributed to the
stockholders of the Company on a pro rata basis.
The Subsidiary currently holds 100% of the shares of Ricofeliz
investment (China) Limited, which in turn wholly owns 100% of Wuhan
Yangtze River Newport Trading Limited.
The Subsidiary was established to facilitate the Company’s
initiatives in “blockchain” solutions. Blockchains offer a
solution that is becoming available to the shipping and logistics
industry which will help manage and track documentation relating to
shipping containers by digitizing the supply chain process to
enhance transparency and to allow for greater security for the
sharing of information among trading partners.
The Subsidiary has been accepted into the Blockchain in
Transport Alliance, a United States alliance established to create
a forum for the promotion, education and encouragement to develop
and adopt blockchain applications in the trucking, transportation
and logistics industry.
About Yangtze River Port and Logistics Limited
Yangtze River Port and Logistics Limited primarily engages in
the business of real estate development with a port logistic
project located in the middle reaches of the Yangtze River. Wuhan
Economic Development Port Limited is a large infrastructure
development project implemented under China's latest “One Belt One
Road” initiative and is believed to be strategically positioned in
Wuhan, a crucial trading window between China, the Middle East and
Europe. The logistics center is also expected to provide a
number of shipping berths for cargo ships of various sizes.
Yangtze River Port and Logistics Limited is expected to provide
domestic and foreign businesses a direct access to the Free Trade
Zone in Wuhan. The project will include commercial buildings,
professional logistic supply chain centers, direct access to the
Yangtze River, Wuhan-Xinjiang-Europe Railway and ground
transportation, storage and processing centers, IT supporting
services, among others.
For additional information please go
to: http://www.yerr.com.cn
Forward-Looking Statements:
This document includes “forward-looking” statements, as that
term is defined in the Private Securities Litigation Reform Act of
1995 or by the Securities and Exchange Commission in its rules,
regulations and releases. Forward-looking statements are any
statements other than statements of historical fact, including
statements regarding Company's expectations, beliefs, hopes,
intentions or strategies regarding the future. Among other things,
these forward-looking statements may include statements regarding
the change of Company's plan of operation, future opportunities as
a result of the matter referenced in the above statements; and any
other statements regarding Company's future beliefs, expectations,
plans, intentions, financial condition or performance. In some
cases, forward-looking statements can be identified by the use of
words such as “may,” “will,” “expects,” “should,” “believes,”
“plans,” “anticipates,” “estimates,” “predicts,” “potential,”
“continue,” or other words of similar meaning. Forward-looking
statements are subject to risks and uncertainties that could cause
actual results to differ materially from those discussed in, or
implied by, the forward-looking statements. Factors that might
cause such a difference include, but are not limited to, general
economic conditions, our financial and business prospects, our
capital requirements, our financing prospects, our relationships
with employees, and our ability to realize the anticipated benefits
of such transaction, and those disclosed as risks in other reports
filed by us with the Securities and Exchange Commission, including
those described in our most recently filed Quarterly Report on Form
10-Q, Annual Report on Form 10-K and subsequent amendment on Form
10-K/A, current report on Form 8-K, and other filings with the
SEC.
We caution readers that any such statements are based on
currently available operational, financial and competitive
information, and they should not place undue reliance on these
forward-looking statements, which reflect management's opinion only
as of the date on which they were made. Except as required by law,
we disclaim any obligation to review or update these
forward-looking statements to reflect events or circumstances as
they occur.
James Coleman
Executive Director
jcoleman@yerr.com.cn
646-861-3315
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