China Agritech, Inc. Approved for Listing on the NASDAQ Global Market
September 18 2009 - 6:45AM
PR Newswire (US)
Trading on NASDAQ will begin on September 21, 2009 under the symbol
"CAGC" BEIJING, Sept. 18 /PRNewswire-Asia-FirstCall/ China
Agritech, Inc. (OTC:CTEC) (BULLETIN BOARD: CTEC) ("China Agritech",
or the "Company"), a leading national organic fertilizer
manufacturer and distributor in China, today announced that it has
received approval for listing on the NASDAQ Global Market. The
Company's common stock will begin trading on the NASDAQ Global
Market on September 21, 2009 under the symbol "CAGC." Until that
time, the Company's shares will continue to trade on the OTC
Bulletin Board under the symbol "CTEC." "We are proud to be listing
on the NASDAQ Global Market, which highlights our commitment to
meeting the stringent requirements of a senior exchange in the
U.S.," said Mr. Yu Chang, Chairman and Chief Executive Officer of
China Agritech, "We have made significant progress in achieving our
strategic plan to further build the Company with additional
geographically diversified production capacity for our new organic
granular products, our expanded marketing and sales network, and
innovative new fertilizer products based on our proprietary
technologies. We believe trading on NASDAQ is another significant
milestone in our corporate history as we are joining other top-tier
companies on the NASDAQ and raising our visibility within the
investment community, which should enhance our stock's
marketability especially among institutional investors, to broaden
our shareholder base and build value for our shareholders." About
China Agritech, Inc. China Agritech, Inc. is engaged in the
development, manufacture and distribution of liquid and granular
organic compound fertilizers and related products in China. The
Company has developed proprietary formulas that provide a
continuous supply of high-quality agricultural products while
maintaining soil fertility. The Company sells its products to
farmers located in 28 provinces of China. For more information
about the Company, please visit http://www.chinaagritechinc.com/ .
Safe Harbor Statement This release may contain certain
"forward-looking statements" relating to the business of China
Agritech and its subsidiary companies, which can be identified by
the use of forward-looking terminology such as "believes,"
"expects," "anticipates," "estimates" or similar expressions,
including, but not limited to, statements regarding the continued
demand for China Agritech's products, China Agritech's ability to
sustain growth for the balance of the year and China Agritech's
ability to generally meet all of its objectives. Such
forward-looking statements involve known and unknown risks and
uncertainties, including all business uncertainties relating to
product development, marketing, concentration in a single customer,
raw material costs, market acceptance, future capital requirements,
and competition in general and other factors that may cause actual
results to be materially different from those described herein as
anticipated, believed, estimated or expected. Certain of these
risks and uncertainties are or will be described in greater detail
in our filings with the SEC. Except as required by law, China
Agritech is under no obligation to update or alter its
forward-looking statements whether as a result of new information,
future events or otherwise. For more information, please contact:
In China: Mr. Gareth Tang Chief Financial Officer China Agritech,
Inc. Tel: +86-10-5962-1220 Email: In the U.S.: Mr. Kevin Theiss /
Mr. Valentine Ding Investor Relations Grayling Tel: +1-646-284-9409
Email: DATASOURCE: China Agritech, Inc. CONTACT: In China: Mr.
Gareth Tang, Chief Financial Officer, China Agritech, Inc.,
+86-10-5962-1220, or ; In the U.S.: Mr. Kevin Theiss, or Mr.
Valentine Ding, Investor Relations, Grayling, +1-646-284-9409, or ,
Web site: http://www.chinaagritechinc.com/
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