WUHAN CITY, China, Sept. 8,
2016 /PRNewswire/ -- Aoxin Tianli Group, Inc. (NASDAQ:ABAC)
("Aoxin Tianli" or the "Company"), a leading producer of breeder
hogs, market hogs and black hogs, as well as specialty processed
black hog pork products sold through retail outlets and the
internet, with headquarters in Wuhan City, Hubei
Province, China, today
announced a one (1) -for- four (4) reverse stock split (the
"Reverse Split") of its authorized and issued and outstanding
shares of common stock (the "Common Stock"). The Reverse Split will
be effective and the Common Stock will begin trading on the Nasdaq
Capital Market ("Nasdaq") on a split-adjusted basis at the market
opening on September 9,
2016. The Company's Common Stock will continue to trade on
Nasdaq under the symbol "ABAC" but with a new CUSIP number G0404E
112.
The Reverse Split is intended to increase the per share trading
price of the Company's Common Stock to satisfy the $1.00 minimum bid price requirement for continued
listing on the Nasdaq Capital Market.
As a result of the Reverse Split, every four issued and
outstanding shares of the Company's Common Stock will automatically
be combined into one issued and outstanding share. This will reduce
the total number of issued and outstanding shares of Common Stock
from 31,952,000 to approximately 7.99 million, and the Company's
authorized shares of Common Stock from 100,000,000 to 25,000,000.
No fractional shares will be issued. All fractional shares created
by the Reverse Split will be rounded up to the nearest whole
share. You need not return any stock certificates you may hold or
contact the Company, its transfer agent or your broker. The
Company's transfer agent will update its books and records to
reflect the Reverse Split. All book-entry and other electronic
positions representing issued and outstanding shares of the common
stock will be automatically adjusted. Shareholders whose shares are
in electronic form at brokerage firms do not require action, as the
effect of the Reverse Split will automatically be reflected in
their brokerage accounts.
For further information regarding the Reverse Split, please
refer to the Company's Form 8-K to be filed today with the
Securities and Exchange Commission and available on the SEC website
at http://www.sec.gov.
About Aoxin Tianli Group, Inc.
Aoxin Tianli Group, Inc. (the "Company"), previously known as
Tianli Agritech, Inc., is in the business of breeding, raising and
selling breeder and market hogs in China. The Company also sells specialty
processed black hog pork products through supermarkets and other
retail outlets, as well as the internet. More information about the
Company can be found at: www.aoxintianli-china.com.
Forward-Looking Statements
This news release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and
service demand and acceptance, changes in technology, economic
conditions, the impact of competition and pricing, government
regulations, and other risks contained in reports filed by the
company with the Securities and Exchange Commission. All such
forward-looking statements, whether written or oral, and whether
made by or on behalf of the Company, are expressly qualified by
this cautionary statement and any other cautionary statements which
may accompany the forward-looking statements. In addition, the
Company disclaims any obligation to update any forward-looking
statements to reflect events or circumstances after the date
hereof.
For more information, please contact:
Tina Xiao
Weitian Group LLC
Phone: +1-917-609-0333
Email: tina.xiao@weitian-ir.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/aoxin-tianli-group-inc-announces-reverse-stock-split-300325003.html
SOURCE Aoxin Tianli Group, Inc.
