Yangtze River Port and Logistics Limited Announces Plan to Spin-Off Yangtze River Blockchain Logistics Limited
February 13 2018 - 5:44PM
Yangtze River Port and Logistics Limited, (YERR) (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.
Contact:
James Coleman
Executive Director
jcoleman@yerr.com.cn
646-861-3315
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