updated 1/20/2011 11:18:34 AM ET 2011-01-20T16:18:34

GUANGZHOU, China, Jan. 20, 2011 (GLOBE NEWSWIRE) -- Sino Green Land Corporation (OTCBB:SGLA), a leading distributor of high end fruits and vegetables in China, today announced that it completed a $2.6 million private placement with a group of accredited Chinese and Hong Kong investors. Sino Green Land sold 13 million restricted shares of common stock at $0.20 per share.

Mr. Xiong Luo, CEO of Sino Green Land, commented, "The additional funding we received through this transaction will be used to help finance our Metro Green hub, whose scale has been expanded. The increased square footage will allow us to accommodate what we see as demand from green food manufacturers, distributors and wholesalers. We are on track to officially open the hub in the first half of 2011."

Complete details of the private placement transaction are available on the Company's Form 8-K filed with the Securities Exchange Commission on January 18, 2011. 

About Sino Green Land Corporation

Sino Green Land Corporation is a leading agricultural distributor of high end fruits and vegetables in the People's Republic of China. Since its inception in 2003, Sino Green Land has grown from a small distributor of various produce to become a large distributor of Fuji apples, emperor bananas and tangerine oranges. In the process, Sino Green Land has built a solid reputation, a sophisticated supply chain and a domestic distribution network primarily in Beijing and Guangzhou.

The Sino Green Land Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8334

Safe Harbor Statement

This press release may contain forward-looking statements. Such statements include, among others, those concerning the company's expected financial performance and strategic and operational plans, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and that a number of risks and uncertainties could cause actual results of the Company to differ materially from those anticipated, expressed or implied in the forward-looking statements. The words "believe," "expect," "anticipate," "project," "targets," "optimistic," "intend," "aim," "will" or similar expressions are intended to identify forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from those anticipated include risks related to the company's ability to overcome competition in its market; the impact that a downturn or negative changes in the price of the company's products could have on its business and profitability; the company's ability to simultaneously fund the implementation of its business plan and invest in new projects; economic, political, regulatory, legal and foreign exchange risks associated with international expansion; or the loss of key members of the company's senior management; any of the factors and risks mentioned in its filings with the Securities and Exchange Commission including the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's amended annual report on Form 10-K/A filed on November 24, 2010 and the prospectus dated December 23, 2010. The Company assumes no obligation, and does not intend, to update any forward-looking statements, except as required by law.

CONTACT:  Crescendo Communications, LLC 
          David Waldman or Vivian Huo
          Tel: (212) 671-1020
          Email: sgla@crescendo-ir.com

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


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