NEW YORK, Sept. 27, 2019 (GLOBE NEWSWIRE) -- Taxus Pharmaceuticals Holdings Inc (OTC Markets: TXSP) announces that it has entered into an agreement with Hong Kong Jufeng Industry Group Co Limited (“Hong Kong Jufeng”) to issue 20,000,000 shares of common stock to acquire 49% of the outstanding stock of Hong Kong Jufeng. Hong Kong Jufeng owns 100% ownership of Chatkal-17, a gold mine in Kyrgyzstan, which is valued approximately 140 million dollars, according to the appraisal report by Asia Appraisal Co., Ltd.
Hong Kong Jufeng has been engaged in the operations of gold mines and gold trade in China and Kyrgyzstan. Currently it operates multiple gold mines in Kyrgyzstan regions including Chatkal-17 and Naryn River valley. It is seeking business partner for expansion.
The acquisition allows TXSP to jointly develop the gold mines and explore the gold mining business with Hong Kong Jufeng in Central Asia. It is a major step for TXSP’s diversified operations and TXSP anticipates that this acquisition and joint operation will enable it to create a strong business enterprise.
About Taxus Pharmaceuticals Holdings Inc
Taxus Pharmaceuticals Holdings Inc (OTC Markets: TXSP) is committed to the R&D and technology transfer and processing of pharmaceutical, health care products, food and medical equipment as well as sales of dietary supplement products such as vitamins, minerals, calcium, fibers, and proteins, etc.
Safe Harbor Statement
Certain of the statements made in this press release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause Taxus Pharmaceuticals Holdings Inc’s actual results to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "intends," "anticipates" or "plans" to be uncertain and forward-looking. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings. These filings are available at www.sec.gov. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.
Investor Relations Contact:
Jiayue Zhang
Chief Executive Officer
23605 Braddock Avenue,
Bellerose, NY 11426
Phone: (718) 631-1522