Feb 2 2010
SkyBridge Technology Group, Inc. today, after the market closed announced that the company had finalized the merger with the Chinese Jiangxi Sanhe Science and Technology Co., Ltd .
SKGO has been in the process of evaluating strong and strategically balanced partners for their plans to successfully raise the shareholder value and secure a solid future growth for the company. SKGO completed the Jiangxi Sanhe Science and Technology Co., Ltd. merger with a common share exchange (restricted shares) of approximately 600 million shares.
Sky Bridge Technology welcomes and introduces Jiangxi Sanhe Science and Technology Co., Ltd. to its shareholders and followers.
Jiangxi Sanhe Science and Technology Co., Ltd. produces and distributes environmentally friendly and recyclable 'plastic wood'. This environmental product doesn't hold any toxic residues of benzene, ammonia or formaldehyde, and it's entirely environmentally friendly and biodegradable. This product suits flooring, ceilings, internal and external wall panels, furniture, and other urban and rural installations. The company's products hold ISO9001-2000 quality certification and ISO14001-2004 environmental certification and the company received Jiangxi Province High-Tech Enterprise Certificate in 2006.
New incoming SKGO Ms. Yang Yu Fang CEO said, "This is tremendous news for both Sanhe and SKGO. I think the shareholders must appreciate the work of the SKGO management and its corporate advisors in raising this company from the dust. Sanhe brings value to SKGO shareholders, and we can't wait to get down to business. The 'plastic wood' lays at the center of Sanhe production and the company seeks ways to expand and find export opportunities for North America. Besides the plastic wood, the company also holds patents for earthquake-resistant building design and an effective wind turbine dynamo. We believe the shareholders greatly appreciate what's happening with SkyBridge today as we will strive to continuously increase the value of the company."
This merger is based on the targeted merger companies being able to meet and exceed both management and long-term shareholders reasonable expectations. The SKGO management works in concert with its preferred shareholders, certain accredited investors and its M&A advisors on this merger and has developed a complex preferred share exchange arrangement. The result will see SKGO current (both common and preferred) share structure unchanged and undisturbed for an estimated 12 to 24 months after the merger date.
Within the next 5 to 7 business days the company plans to issue a CEOs message, video and still images of the Sanhe factory and infrastructure in China.
Copies of patents will be filed with Pink Sheets along with other relevant documents relating to Sanhe shortly.
Ms. Yang Yu Fang CEO, Ms.Sun Xi Managing Director and Ms. Peng Yan Director of Sanhe intend to attend Shareholders Business and Expo Conference hosted by SKGO's M&A firm Mina Mar Group to be held in Toronto Canada April 9, 2010. Sanhe and SKGO management invite their shareholders and followers to visit the SKGO booth at the conference.
Source: http://www.skybridgetechgroup.com/