HARBIN, China, Oct. 22, 2008 (GLOBE NEWSWIRE) -- China Forestry Inc. (OTCBB:CHFY), a timber investment group in the People's Republic of China, today announced the completion of modification to the Company website in support of its previously announced decision to revise its business strategy in order to focus on acquiring forest user right certificates.
Commenting on the Company's modified website, Mr. Yuan Tian, CEO of CHFY, stated, "We will continue to utilize our website to update our shareholders regarding our progress in expanding our China forest holdings, and we look forward to being able to share news of our current negotiations to acquire user rights to additional forests in the very near future."
About China Forestry Inc.:
China Forestry Inc. (OTCBB:CHFY) is a timber investment group formed in the Peoples Republic of China to conform to State laws that prohibit non-PRC ownership of forest lands. The Company's strategy is to capitalize on the Central Government's decision to promote sustainable forest management through land tenure reforms that include the transferability of forest user right certificates to PRC entities. The Company's current holdings include ownership of four user right certificates representing 1,561 hectares of State forest assets in China's northeastern Heilongjiang Province, home to China's most valuable timber and one of the most distinctive temperate forests in the world due to its rare biodiversity. For more information, please visit the Company's website at: http://www.chinaforestryinc.com.
Safe Harbor Statement:
Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of the Company's products, the competitive environment within the industry, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company's expansion efforts, economic conditions in the industry and the financial strength of the Company's customers and suppliers. The Company does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.