VANCOUVER, British Columbia, Jan. 31, 2019 (GLOBE NEWSWIRE) -- Sunshine Agri-Tech Inc. (TSX VENTURE: SAI) ("Sunshine Agri-Tech" or the "Company") announces that the Company incorporated a new subsidiary called Sino-Grain Bio-Tech (Dalian) Co., Ltd. (“Sino-Grain”) and transferred all of its operating business assets, including equipment, business know how and customer list from the Company’s other wholly-owned subsidiary, Dalian Sunshine Agri-Tech Inc. (“Dalian Sunshine”) to Sino-Grain, which will continue to carry on the business of livestock feed additive manufacturing and research.
Subsequently the Company in December of 2018 entered into an agreement to sell 100% of Dalian Sunshine to Nongpaike Bio-Tech (Dalian) Co., Ltd. (“Nongpaike”) for RMB 4.5 million Yuan. The sale of 100% of Dalian Sunshine to Nongpaike is subject to final acceptance by the TSX Venture Exchange.
About Sunshine Agri-Tech Inc.:
Sunshine Agri-Tech Inc. (TSX VENTURE:SAI) is a public company listed on the TSX Venture exchange. The Company is currently engaged in the research, development, production and sales of microbial feed additives and related products that aim to improve the health and performance of animals. The Company's products include microbial feed additives. The Company is based in the city of Dalian in the People’s Republic of China.
On Behalf of the Board of Directors
SUNSHINE AGRI-TECH INC.
Baojun Zhang, PhD
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION
Sunshine Agri-Tech Inc.
Xiaozhu Pang
Chief Financial Officer
Tel: (778) 865-2296