Momentum in China Continues as Astika Holdings, Inc. Prepares for Growth in the Nantong Region
PR-Inside.com: 2014-04-29 22:45:09
* Since the start of China’s economic reforms in the 1990’s, Jiangsu Province – Nantong City has been a hot spot for economic development, and is now one of the wealthiest provinces in China with a GDP comparable to that of Switzerland and is economically the most advanced and dynamic province in China.
AUCKLAND, New Zealand (FSCwire) - Astika Holdings, Inc. (the "Company") (OTCQB: ASKH) a strategic acquisition company of service, agriculture and industrial companies from the Nantong Region in China confirmed its decision to engage in international trade and transactions with Nantong since its economic growth and foreign investments have exceeded all other cities in China’s Yangtze Economic Zone.
Mark Richards, the director for Astika Holdings stated, "Astika's ongoing strategy through opportunistic high growth sector acquisitions include Nantong Dredging Machinery CO., LTD., in the dredging and shipping sector, the Company's agriculture 'Green Future' initiatives with Nantong’s Grain Seeder of High Accuracy and the Industrial Hemp sector along with Astika's entrance into negotiations with Nantong Poultry Farming Co. Ltd., in the food service sector intend to benefit the future of Astika's shareholders along with the Asian, New Zealand and World Markets. We believe to be on track for significant growth with the initial acquisitions from the Nantong Region to deliver revenue and earnings growth."
In the 1990’s, Nantong was one of the 14 coastal cities permitted to engage in international trade, and its rapid economic growth is attributed to its advantageous location situated on the northern bank of the Yangtze River connected by two new bridges to Shanghai. Due to its excellent geographical location, Foreign Direct Investment Nantong has become a major destination for domestic and foreign investment making the city one of the fastest growing in China. The main area for foreign investment is the Nantong Economic and Technological Development Zone, which includes the Nanjing Export Processing Zone, and the Nantong High-Tech Industrial Development Zone. Nantong also serves as a transportation hub with the Nantong Port operating as one of the 10 largest ports in China for containers from Hong Kong, Japan and South Korea. Related to the port, Nantong’s shipbuilding sector is one of the largest in China with shipyard giants COSCO, Rongsheng, Yahua and Daoda. Additionally, Nantong has an extensive irrigation system supporting its agriculture, with its main cash crops include cotton, soybeans, peanuts, rapeseed, sesame, ambary hemp, tea, rice, wheat, maize, sorghum, peppermint, spearmint, bamboo, medicinal herbs, apples, pears, peaches, loquats and ginkgo.
The completion of the acquisitions are dependent on, among other things, the completion of due diligence satisfactory to the Company, and the completion of the PCAOB audit under US GAAP. The parties have agreed that the acquisition will not engage in any negotiations or discussions with other potential acquirers and have also agreed to maintain the confidentiality of all of the acquisitions in order to protect the acquisition's competitive interests, and the interests of its many customers and employees, during the period of the acquisitions. Astika Holdings is in the process of making the necessary filings which will be filed on the US SEC EDGAR system providing the specifics of developments and intends to position the Company for an eventual up-listing to a higher exchange such as the NASDAQ BX or NASDAQ, once the Company meets the financial status and market share price for up-listing qualification.
Astika Holdings, Inc. (OTCQB: ASKH) ( nantongventures.com
Astika Holdings is focused on a variety of strategic acquisitions in service, agriculture and industrial companies to compliment and grow Astika Holdings, Inc.'s business. The Company is positioning to capture the next wave of growth companies from Asia. Astika Holdings is focused on the Nantong region of China and is positioning to negotiate with growth companies from the Nantong region. Nantong is known as a "Pearl of the River and Sea," ideally situated near the mouth of the Yangtze river with a rich and diverse history dating back to the Chinese Han Dynasty. Inhabitants first lived in the region 5,000 years ago because of its abundant natural resources and access to the Yangtze river. Nantong has a national reputation of "the First Window on the Yangtze River" and is one of the China's prized national tourist centers. As the centerpiece in the Yangtze Delta Economic Zone, Nantong has enjoyed rapid economic growth and increasing foreign investments. The city is listed on the China's Top 100 Counties (county-level cities) for its strong economy. Nantong is one of China's first fourteen coastal cities open to international trade. Nantong is poised for accelerated economic growth with new bridges over the Yangtze River connecting the Nantong region to the Shanghai metropolitan region. With the development of the Rudong Yangkou Harbor Nantong offers the only natural deep water harbor in central China's coast with access to China's largest markets. Nantong's rich history of economic prosperity and growth converge with national modernization continue to make Nantong a major center for economic development in China. Astika Holdings intends to be a high growth company focused on adding value through successful project development, efficient operations, and opportunistic acquisitions while maintaining a low risk profile through project diversification, astute financial management and operating in secure jurisdictions.
Forward-Looking Statements - This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
INVESTOR RELATIONS CONTACT
ASTIKA HOLDINGS, INC.
Contact: Mark Richards, Director
Tel: 64 9 889 3327
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Source: Astika Holdings Inc (OTCQB:ASKH) www.nantongventures.com
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