China Green Agriculture, Inc. Announces New Board Member
February 10 2010 - 4:15PM
PR Newswire (US)
XI'AN, China, Feb. 10 /PRNewswire-Asia-FirstCall/ -- China Green
Agriculture, Inc. (NYSE: CGA; "China Green Agriculture" or "the
Company"), a leading producer and distributor of humic acid ("HA")
based compound fertilizer through its wholly owned subsidiary,
Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd., today
announced that Mr. Robert B. Fields has been appointed to its Board
of Directors. Mr. Fields is replacing Mr. Barry Raeburn, who
resigned effective February 3, 2009. "Mr. Fields's extensive
corporate background combined with his significant experience from
serving on the board of directors for eight public companies and
director of more than a dozen companies in the past will complement
the strengths of our existing board members," stated Mr. Tao Li,
Chairman, President and Chief Executive Officer of China Green
Agriculture. "We welcome him to our Company and are confident that
his proven leadership and insight will help us drive long-term
profitable growth for our shareholders. I would also like to thank
Mr. Raeburn for his contribution to the Board and the Company and
am joined by the other directors in wishing him well in the
future." Mr. Fields currently serves as the Chairman of ActForex,
Inc., a New York-based fully hosted management service provider of
proprietary software for currency trading with over 20,000
registered traders, since 2001. Since April 25, 2008, Mr. Fields
has served on the Board of Directors and as a member of the Audit
Committee and Compensation Committee for SkyPeople Fruit Juice,
Inc. (Amex), a processor and manufacturer of concentrated
kiwifruit, apple, pear and other fruit juices and fruit products in
China. In June 2000 Mr. Fields was appointed to the Board of
Statmon Technologies, Inc. (OTCBB), an emerging wireless and remote
site infrastructure management solution provider, and continues to
serve on that board as well as to serve as Chairman of Statmon's
Audit Committee. From June 2005 through May 31, 2006, Mr. Fields
served on the Board of Directors and as Chairman of the Audit
Committee of Genoil Inc. (OTCBB), which develops innovative
hydrocarbon, oil and water separation, and marine technologies for
the oil and gas and commercial marine industries. From 1999 to
2002, Mr. Fields was Executive Advisor to Laidlaw Global Corp.
(AMEX). From 1997 to 1998, Mr. Fields served as Vice Chairman and,
from 1997 to 1999, as a director of Laidlaw Ship Funding Ltd. Mr.
Fields currently serves as President of the Friars National
Association Foundation, Inc., a New York-based non-profit
organization benefitting the arts, and since 1998 Mr. Fields has
held various officer positions with the organization. From 1995 to
1998 he was a director of Hospital Staffing Services, Inc. (NYSE),
and prior to that Mr. Fields also served as President and CEO of
L'Express Inc., a New Orleans based interstate regional airline,
EVP of American Finance Group in Boston, and as a director and on
the Audit Committee of Flight International Group of Newport News,
Virginia, a public company. Additionally, Robert Fields was
managing director of Equifund, L.P. Since 1979 he has served as the
President of Tradestar Ltd., his wholly owned consulting firm that
specializes in asset appreciation. Additionally, Mr. Fields has had
investments in the oil and gas industry within the U.S. through
Dorado Exploration, FTP Oil & Gas, and PetroFields, LLC. About
China Green Agriculture, Inc. China Green Agriculture, Inc.
produces and distributes humic acid ("HA") based compound
fertilizer through its wholly owned subsidiary, Shaanxi TechTeam
Jinong Humic Acid Product Co., Ltd., ("Jinong"). Jinong produces
and sells over 140 different kinds of fertilizer products per year.
All of Jinong's fertilizer products are certified by the PRC
government as green food production materials, as stated by the
China Green Food Research Center. Jinong's liquid based fertilizers
are highly concentrated liquids which require an application of
approximately 120 ml per mu per application. Its average end user
has approximately four mu of land (one mu = .165 acres). Jinong
also has the capacity to produce highly concentrated powdered
fertilizers. China Green Agriculture currently markets its
fertilizer products to private wholesalers and retailers of
agricultural farm products in 21 provinces, 4 autonomous regions
and 3 municipal cities in the PRC. The leading five provinces which
collectively accounted for 34.7% of the Company's fertilizer
revenue for the three months ended December 31, 2009 are Shaanxi
(9.1%), Shandong (6.8%), Guangdong (6.7%), Heilongjiang (6.2%) and
Hebei (5.9%). For more information, visit http://www.cgagri.com/ .
Safe Harbor Statement This press release contains forward-looking
statements concerning the Company's business, products and
financial results. The Company's actual results may differ
materially from those anticipated in the forward-looking statements
depending on a number of risk factors including, but not limited
to, the following: general economic and business conditions,
development, shipment, market acceptance, additional competition
from existing and new competitors, changes in technology, and
various other factors beyond the Company's control. All
forward-looking statements are expressly qualified in their
entirety by this Cautionary Statement and the risk factors detailed
in the Company's reports filed with the Securities and Exchange
Commission. China Green Agriculture undertakes no duty to revise or
update any forward-looking statements to reflect events or
circumstances after the date of this release. For more information,
please contact: In the US: China Green Agriculture, Inc. Ms. Ying
Yang, Chief Financial Officer Tel: +1-626-623-2575 Email: OR HC
International, Inc. Ted Haberfield, Executive VP Tel:
+1-760-755-2716 Email: In China: China Green Agriculture, Inc. Mr.
Jonnie Wang, Secretary of Board, Investor Relations Officer Tel:
+86-29-8826-6368 Email: DATASOURCE: China Green Agriculture, Inc.
CONTACT: in the US, Ms. Ying Yang, Chief Financial Officer of China
Green Agriculture, Inc., +1-626-623-2575, ; or Ted Haberfield,
Executive VP of HC International, Inc., +1-760-755-2716, ; or in
China, Mr. Jonnie Wang, Secretary of Board, Investor Relations
Officer of China Green Agriculture, Inc., +86-29-8826-6368, Web
site: http://www.cgagri.com/
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