RainEarth Signs Purchase Agreement with XiangFan Municipal No.1 People's Hospital
June 04 2009 - 9:00AM
PR Newswire (US)
BEIJING, June 4 /PRNewswire-Asia/ -- RainEarth Inc. (OTC Bulletin
Board: RNER; "the Company"), announced today that its contractual
partner in China, Beijing RainEarth Technology Co. Ltd., ("China
RainEarth"), and XiangFan Municipal No.1 People's Hospital, entered
into a Purchase Agreement (the "Agreement") for an amount of
RMB1,800,000 (approximately $263,500) for its blood dialyzers.
China RainEarth has been contracted to manufacture and deliver
30,000 dialyzers for medical use at XiangFan Municipal No.1
People's Hospital. These high quality blood dialyzers will be
delivered in early July, 2009. Each dialyzer costs approximately
RMB60.00 (approximately $8.75), equaling the total contract value
of RMB1,800,000 (approximately $263,500). XiangFan Municipal No.1
People's Hospital was founded in 1949. It has approximately 1050
beds and is one of China's 700 Rank A Level 3 national hospitals.
"We are very pleased that XiangFan Municipal No.1 People's First
Hospital recognizes the high quality of blood dialyzers
manufactured by China RainEarth. We recognize there is a very large
market for our blood dialyzers, therefore our goal is to reach the
other Rank A Level 3 national hospitals in China. Reaching these
other hospitals would amount to approximately $103,000,000RMB
(approximately $15,000,000USD) in revenue," stated Zhu, YongFu, CEO
of the Company. About the Company RainEarth Inc. (formerly Gold
Rock Resources Inc., the "Company") was incorporated in the State
of Nevada on March 14, 2006. The Company is a developing stage
company that initially engages in the search for mineral deposits
or reserves. On March 25, 2009, the Company and Beijing RainEarth
Technology Co. Ltd., a company organized and existing under the
laws of the People's Republic of China, entered into a Business
Cooperation Agreement (the "Agreement") for a term of twenty years.
The purpose of the Agreement is to jointly conduct Hollow Fiber
Mambrane Materials' application and manufacturing business in China
(the "Business"). The first product that utilizes this technology
is blood dialyzer. The Company will provide Advice and assistance
relating to development of marketing and consultancy services,
particularly as related to the Business. Beijing RainEarth
Technology Co. Ltd. will give 60% of its revenue after deduction of
direct operating costs, expenses and taxes to the Company in
consideration of the Company's services. Forward-looking statements
This press release contains "forward-looking" statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
All statements other than statements of historical facts included
in this press release are forward-looking statements.
Forward-looking statements involve risks and uncertainties
including, but not limited to, economic and political factors;
developments of the Chinese and North American markets and changes
in regulatory matters; our business strategies and future plans of
operations; the market acceptance and amount of sales of our
products and services; our historical losses; the competitive
environment within the industries in which we compete; and our
ability to raise additional capital, currently needed for
expansion. The Company cautions that forward-looking statements are
subject to certain risks and uncertainties that could cause actual
results to differ materially from those indicated in the
forward-looking statements due to several important factors. For
more information, please contact: RainEarth Inc. Public
Relationship Department Tel: +86-10-6127-1736 DATASOURCE: RainEarth
Inc. CONTACT: Public Relationship Department, RainEarth Inc. at
+86-10-6127-1736
Copyright