|By Marketwired .||
|August 30, 2013 09:59 AM EDT||
NEW YORK, NY -- (Marketwired) -- 08/30/13 -- China Metro-Rural Holdings Limited (NYSE MKT: CNR) (the "Company") is pleased to announce attendance of groundbreaking ceremony of its latest project in Hengyang Province (the "Hengyang Project") invited by the Hengyang Government on August 29, 2013.
Prior to the groundbreaking ceremony, on August 28, 2013, the Secretary of Communist Party of China of Hunan Provincial Committee Mr. Xu Shousheng and the Governor of Hunan Province Mr. Du Jiahao have granted an interview with founding shareholders of the Company, the Chairman and CEO of the Company and senior management of the Hengyang Project company. Both Mr. Xu and Mr. Du have expressed that the Hengyang Project is highly important for the economic development of Hunan Province and the Hunan Government will provide all necessary supports for the development of the Hengyang Project.
The guests for the groundbreaking ceremony included Vice-Governor of Hunan Province, the Mayor of Communist Party of China of Hengyang Municipal Committee and the Mayor of Hengyang City. "With the assistance provided by the local government, we have already acquired approximately 2,000,000 square meters of land through auction for our development," Sam Sio stated, CEO and Chairman of the Company.
The planned site area of the Hengyang Project is approximately 2.7 million square meters with corresponding maximum gross floor area of approximately 7.5 million square meters. The Hengyang Project will include trading outlets and other supporting facilities such as exhibition centres, residential and commercial areas. The development duration is expected to take approximately 10 years for the entire project.
ABOUT CHINA METRO-RURAL HOLDINGS LIMITED
China Metro-Rural Holdings Limited is a leading agricultural logistics platform development and rural-urban migration redevelopment company in China.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are, by their nature, subject to risks and uncertainties. This Act provides a "safe harbor" for forward-looking statements to encourage companies to provide prospective information about themselves so long as they identify these statements as forward-looking and provide meaningful cautionary statements identifying important factors that could cause actual results to differ from the projected results. All statements, including statements regarding industry prospects and future results of operations or financial position, made in this press release are forward looking.
Words such as "continue", "consider", "probably", "will", "strive" and similar expressions may identify forward-looking statements. These forward-looking statements include, without limitation, statements relating to: the Company's future performance, the Company's expansion efforts, the state of economic conditions, the Company's market and the governmental policy. These forward-looking statements are based on assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors the Company believes to be appropriate in particular circumstances. However, whether actual results and developments will meet the Company's expectations and predictions depends on a number of known and unknown risks and uncertainties and other factors, any or all of which could cause actual results, performance or achievements to differ materially from the Company's expectations, whether expressed or implied by such forward-looking statements.
China Metro-Rural Holdings Limited
Investor Relations Department
Phone: (852) 2111 3815
E-mail: Email Contact