Global Senior Enterprise, Inc. to Exchange Equity Asset With Baying Ecological Holding Group
January 21 2014 - 12:03PM
Marketwired
Global Senior Enterprise, Inc. to Exchange Equity Asset With Baying
Ecological Holding Group
Baying Ecological Holding Group Enters M&A With US Listed
Company Toro Ventures Inc.
FORT WAYNE, IN--(Marketwired - Jan 21, 2014) - Global
Senior Enterprises, Inc. (OTC: GSET) today announced that along
with The World Financial Holdings Group Co., LTD in Xi'an, Shaanxi,
China on Dec. 28, 2013 entered into a Counseling Listed
Cooperation Agreement with Shaanxi Surplus Eco Industrial
Development to assist Shaanxi Surplus acquire Toro Ventures Inc.
Shaanxi Surplus is to change its name to Baying Ecological Holding
Group (Baying).
Based in Xi'an, Shaanxi Province, Baying reports 10 million RMB
registered assets. Baying is at the core of walnut industry
participating in eco-efficient projects, producing high-end organic
agricultural, biological and health care products. Further Baying
works in the eco-tourism industry and is an eco-industrial
development company under the jurisdiction of Jane Eating Fine
Living Clubs. Its products consist of an organic agricultural
hanging bell, fragrant walnut seedling base providing products to a
bio-organic fertilizer plant and other entities. GSET's Chinese
Operations include health care, eco-tourism, leisure and other
projects. After equity asset exchange between Baying and GSET, the
organic agricultural products, health care products and eco-tourism
services Baying provided would be available to GSET, so that the
two parties will reach a higher scale of efficiency and
benefits.
Baying presents a strong technical force with high quality
management, technology, research and development personnel, deep
cultural heritage, and marketing planning. Baying operates a strong
brand and is an excellent prospect for development. Currently, the
company owns up to 10,000 acres walnut planting base. The company
has completed a large-scale cultivation of efficient ecological
walnut technical reserves. Baying further independently developed a
special walnut bio-fertilizer with biological agents for disease
control. Baying is self-sufficient from its fertilizer and
pharmaceutical production to seedling cultivation with excellent
production management team, large scale and a mature high-tech
standardized eco-walnut production. Moreover, the independent
research of techniques and products of walnut processing has
provided the company a strong impetus to further development.
The World Financial Holdings Group will accomplish the common
goal using its advantages, which is to provide quick and efficient
listing related counseling services to Baying. For the benefit of
GSET having access to Baying's eco-tourism services and
eco-products, Baying has agreed to exchange 30% stake of its equity
for the common stock of GSET at a negotiated value of $6 per share.
Baying's properties will be appraised by professional and qualified
agencies. Once the acquisition has been made by GSET, the total
assets of GSET will increase by a appraised amount and Baying
will hold GSET common shares.
Baying will continue to integrate the remaining assets into TORO
and facilitate transfer of Baying's Senior Management to the main
board of TORO. Baying's Management feels that the merger with TORO
will benefit all three parties and push the industry forward, which
will lead to higher profits and lead to an ever-bright future.
FORWARD LOOKING STATEMENT This press release contains certain
"forward‐looking" statements, as defined in the United States
Private Securities Litigation Reform Act of 1995 that involve a
number of risks and uncertainties. Statements, which are not
historical facts, are forward‐looking statements. The Company,
through its management, makes forward‐looking public statements
concerning it expected future operations, performance and other
developments. Such forward‐looking statements are necessarily
estimates reflecting the Company's best judgment based upon current
information and involve a number of risks and uncertainties, and
there can be no factors that could cause actual results to differ
materially from those estimated by the Company. They include, but
are not limited to, the Company's ability to develop operations,
the Company's ability to consummate and complete the acquisition,
the Company's access to future capital, the successful integration
of acquired companies, government regulation, managing and
maintaining growth, the effect of adverse publicity, litigation,
competition, sales and other factors that may be identified from
time to time in the Company's public announcements.
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