Intermost Corporation Signs Memorandum, Acquiring Prosperous Agriculture, China's Leading Agricultural Resources Distribution Ch
SHENZHEN, China, Nov. 24 /PRNewswire-Asia/ -- Intermost Corporation (OTC Bulletin Board: IMOT, which filed an application to change its name to Uni Core Holdings Corporation, and referred as "UCHC"), an aggressive "company doctor" and "incubator" of mid- to large-size companies in China, is pleased to announce that the Company has signed the Memorandum to acquire China's leading agricultural resources distribution chain -- Prosperous Agriculture Limited Company ("Prosperous Agriculture"). Both parties have agreed, on the basis of the due diligence, to sign a formal cooperation agreement shortly. IMOT will acquire 51% shareholding of Prosperous Agriculture by 11 million shares and a cash investment; amount to be determined.
Prosperous Agriculture, headquartered in Xi'an, Shaanxi, China, was firstly a developer and wholesaler of a leading brand, which it owns, in the territory of agricultural resources in China, and now owns three agricultural resources brands, covering three major series of fertilizer products, including the "XiDuoFeng" biological fertilizer series that mainly expands the utilization rate of conventional fertilizer, enhances quality of crops, and increases production with the bio-microbial agent produced by a proprietary bio-technology, which is classified as an advanced product of fertilizer with increasing popularity; the "Urea-Extra" long-lasting nitrogenous fertilizer series that increases the utilization rate of the traditional nitrogenous fertilizer by more than 50%; and the "Sirius" compound fertilizer series that can fully meet the result expectations of farmers. There are more than 200 agricultural resources dealers and more than 20,000 points of sale in the country that sell the products of Prosperous Agriculture.
As the number one brand in Chinese agricultural business consulting, as well as the first agricultural resources distribution chain operated with stock ownership, Prosperous Agriculture is currently uniting agricultural resources dealers across the country, making the largest distribution platform covering China's rural markets. The model is: a unified brand, centralized procurement and distribution, and standard services. This model can effectively improve a series of problems, consisting of the disorder and competition amongst the dealers in the industry, the proliferation of counterfeit products, the low level of sales service, and the poor level of after-sale protection.
Mr. Thomas Lee, Chief Operating Officer of IMOT said in confidence: "The business volume of China's agricultural market exceeds more than RMB1 trillion a year, the management team of Prosperous Agriculture has been providing marketing consulting services to the dealers and points of sale for over 6 years. The accumulated wealth of knowledge and resources has a superior appealing power in the industry across the world; the management team of IMOT has extensive experience in capital operation and financial management, this cooperation further complements the strengths of both parties forming a powerful alliance. We are confident that, together with Prosperous Agriculture, we can build the largest agricultural resources sales and distribution platform of China, and ultimately extend the platform from just selling agricultural products to also including other consumer goods, becoming the 'Home Depot' of the rural areas in China and eventually the 'Walmart' of China's rural areas."
Mr. James Wu, Chief Executive Officer of IMOT was pleased to say: "We had just resolved all the historical problems and transformed the company into a 'Company Doctor' and an 'Incubator'. Prosperous Agriculture is our first incubation project. We are devoted to continue exploring more and more companies with potential to grow as a leader in the respective industry after our incubation efforts."
About Intermost Corporation (with plans to change its name to Uni Core Holdings Corporation)
Founded in the USA in September 1998, Intermost Corporation was the first Chinese Internet company listed on the US OTC Bulletin Board (stock symbol: IMOT) in December 1998. Intermost Corporation (with plans to change its name to Uni Core Holdings Corporation) has evolved into a 'company doctor' and 'incubator' of mid- to large-size companies that have good potential and profitable products in the market which are desperate for help from experts who can help them grow by assisting them in obtaining public or private financing in China, including company diagnosis services; consulting services; mergers and acquisitions; incubating; raise funds or financing; assistance to get public listing for mid- to large-size companies, etc.
