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
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