SkyPeople Fruit Juice Receives Funding from a Related Party
XI'AN, China, Feb. 19, 2013
XI'AN, China, Feb. 19, 2013 /PRNewswire-FirstCall/ -- SkyPeople Fruit Juice,
Inc. (NASDAQ: SPU - News) ("SkyPeople" or "the Company"), a producer of fruit
juice concentrates, fruit juice beverages and other fruit-related products,
today announced that SkyPeople Juice Group Co., Ltd., a 99.78%-owned
subsidiary of the Company, has entered into a one-year unsecured term loan
agreement with SkyPeople International Holdings Group Limited, an indirect
beneficial shareholder of the Company, for a principal amount of $8 million.
The loan bears an interest at 6% per annum, which the management of the
Company believes to be lower than the currently available market interest
rate.The purpose of the loan is to fund the development of the sales network
and channels of the Company's Hedetang-branded fruit juice beverage business
About SkyPeople Fruit Juice, Inc.
SkyPeople Fruit Juice, Inc., a Florida company, through its wholly-owned
subsidiary Pacific Industry Holding Group Co., Ltd. ("Pacific"), a Vanuatu
company, and SkyPeople Juice International Holding (HK) Ltd., a company
organized under the laws of Hong Kong Special Administrative Region of the
People's Republic of China ("Hong Kong"), holds 99.78% ownership interest in
SkyPeople Juice Group Co., Ltd. ("SkyPeople (China)"). SkyPeople (China) is
engaged in the production and sales of fruit juice concentrates, fruit
beverages, and other fruit related products in the PRC and overseas markets.
Its fruit juice concentrates are sold to domestic customers and exported
directly or via distributors. Fruit juice concentrates are used as a basic
ingredient component in the food industry. Its brands, "Hedetang" and
"SkyPeople," which are registered trademarks in the PRC, are positioned as
high quality, healthy and nutritious end-use juice beverages. For more
information, please visit http://www.skypeoplefruitjuice.com.
Safe Harbor Statement
Certain of the statements made in this press release are "forward-looking
statements" within the meaning and protections of Section 27A of the
Securities Act of 1933, as amended and Section 21E of the Securities Exchange
Act of 1934, as amended, or the Exchange Act. Forward-looking statements
include statements with respect to our beliefs, plans, objectives, goals,
expectations, anticipations, assumptions, estimates, intentions, and future
performance, and involve known and unknown risks, uncertainties and other
factors, which may be beyond our control, and which may cause the actual
results, performance, capital, ownership or achievements of the Company to be
materially different from future results, performance or achievements
expressed or implied by such forward-looking statements. All statements other
than statements of historical fact are statements that could be
forward-looking statements. You can identify these forward-looking statements
through our use of words such as "may," "will," "anticipate," "assume,"
"should," "indicate," "would," "believe," "contemplate," "expect," "estimate,"
"continue," "plan," "point to," "project," "could," "intend," "target" and
other similar words and expressions of the future.
All written or oral forward-looking statements attributable to us are
expressly qualified in their entirety by this cautionary notice, including,
without limitation, those risks and uncertainties described in our annual
report on Form 10-K for the year ended December 31, 2011 and otherwise in our
SEC reports and filings, including the final prospectus for our offering. Such
reports are available upon request from the Company, or from the Securities
and Exchange Commission, including through the SEC's Internet website at
http://www.sec.gov. We have no obligation and do not undertake to update,
revise or correct any of the forward-looking statements after the date hereof,
or after the respective dates on which any such statements otherwise are made.
For more information, please contact:
Xin Ma, CFO
SkyPeople Fruit Juice, Inc.
Tel: China + 86 - 29-8837-7161
SOURCE SkyPeople Fruit Juice, Inc.
Contact: INVESTOR RELATIONS,David Rudnick, Account Manager of CCG Investor
Relations, +1- 646-626-4172, firstname.lastname@example.org, http://www.ccgir.com
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