HONG KONG February 14, 2013
(GLOBE NEWSWIRE) -- Sino Bioenergy Corp. (OTC Pink: SFBE, Borse
Berlin: 3SF)
today released
a letter to give current shareholders updates
on progress and company activities.
The
Company has recently completed all it’s filings on the
OTC Alternate Filing System and is now current in its reporting
requirements.
CEO,
Daniel Mckinney commented, “This has been a huge undertaking,
getting our filings current and reporting after the two year
restructuring
process following our entry into the bioenergy business. We made
this
commitment to the shareholders to get our house in order and become
current in
our filings and now we have delivered and the dreaded ‘Stop Sign’
has been
removed from our trading symbol.”
The
Company is particularity excited about its recent
Huizhou Biotech acquisition. SFBE
purchased a 55% stake in
Huizhou Shi Ji Wu Feng Agricultural
Biotechnology Co. Ltd., (“HB”) and has issued 130,520,000
restricted shares, valued
at $0.10 a shares to close the US$13,520,000 acquisition. HB has
5,700 Mu (380
hectares) of farmland, and is focused on research of high quality
rice. Production
of biomass feedstock will expand by 400% in 2013 to 20,000 Mu (1334
hectares)
of land producing up to 12,000 tons of biomass feedstock utilizing
its Refuse
Derived Fuel, “RDF5” patented technology for fertilizer and fuel.
This
acquisition will derive a significant source of feedstock for
refuse derived
waste (RDF) products and fuel for the China market utilizing our
valuable
patents behind this technology.
McKinney
concluded, “This is a very exciting time for the
company.
Our four
acquisitions
in China are
turning out to be winners for the company. We expect to start
consolidating the
cash flows from all our operating subsidiaries in Q1, 2013.
We
are
looking forward to these acquisitions producing revenues and profit
results and
growing our core businesses”.
About Sino Bioenergy Corp.
Established
in May 2005, Sino Bioenergy Corp. is a Nevada
Corporation that trades on the OTC Pink (symbol: SFBE) and Bourse
Berlin Exchange
(symbol: 3SF). Please see our websites at: www.sinobioenergy.com
Total
shares
outstanding: 711,915,750 as of
February 14, 2013.
Forward Looking Statements
This press
release contains forward-looking statements based on management's
expectations
and beliefs, and may involve known and unknown risks and
uncertainties and
other factors that may cause the actual results to be materially
different from
the results implied herein. Readers are cautioned not to place
undue reliance
on the forward-looking statements made in this press
release.
Contacts: Investor
Relations:
Dennis Burns
Tel: 567-237-4132
nvestrain@gmail.com