A Service For Professionals Thursday, August 17, 2017
Contact (202) 540-8337

Company News Today

A Service For Professionals Thursday, August 17, 2017 11424 Sources 398,740,279 Articles 3,328,029 Readers
Contact (202) 540-8337

China In-Focus: Emerald Dairy Closes Note, Asset Sales

July 7, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Emerald Dairy, Inc. (OTCBB: EMDY), a producer and distributor of infant and children's formula and manufacturer of rice and soybean products, said that it received $0.8 million through the issuance of a note and $5.14 million through an asset sale, which was structured as a sale leaseback.

The company said it will use proceeds totaling $5.94 million to complete the build-out of the first production line at its new milk powder processing facility in Hailun City.

The one-year loan pays 10% interest and matures on June 24, 2011. The sale of certain milk powder processing equipment was completed to Fenghui Leasing Co., Ltd.

Emerald Dairy said it will pay Fenghui 36 monthly lease payments of $163,000, totaling $6.04 million, including a buy-out. In addition, Fenghui received three-year warrants to purchase 934,600 shares of EMDY common stock at $1.65 per share.

China-based Emerald Dairy, through its wholly-owned operating subsidiaries, is a producer and distributor of infant and children's formula, milk powder and soybean products in the People's Republic of China.

The company's products are sold under two brand names — "Xing An Ling," designed for low-end customers, and "Yi Bai," designed for middle and high-end customers.

Real-time, streaming research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://investrend.stocksmart.com/ss/html/hpcompany.html). Current valuation analysis research for companies and funds mentioned in FinancialWire(tm) news is available via the Investrend Research Syndicate (at http://www.valuengine.com/rep/searchsrep?pid=42&srchfor=).

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public other companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (at http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation from subject entities, companies, equities, or representatives thereof, for its news, opinions or distributions. Further disclosure is posted at the FinancialWire(tm) website (at http://www.financialwire.net/disclosures.php and http://www.financialwire.net/2010/04/23/safe-harbor/). Additional resources for investors are also accessible via the FinancialWire(tm) website (at http://www.financialwire.net/2010/04/23/investor-resources/). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Copyright © MMX, FinancialWire(tm); All rights reserved.

[hlmsmlh] [chnchn] [ndnsndnsndns] [fnncngj] [bsnnssb] [dvcmntnmc] [ffddbvrg] [ftrdnwswnd]

Powered by EIN Presswire