Astika Holdings, Inc. (the "Company") (OTCQB:ASKH) a strategic acquisition company of service, agriculture and industrial companies from the Nantong Region in China would like to update its shareholders on the progression of the previously announced Nantong Dredging acquisition. Astika Holdings, Inc. is near completion in finalizing the terms of the acquisition and estimates the final terms of the acquisition to be announced to the shareholders by the end of this month.
The completion of the acquisition are dependent on, among other things, the completion of due diligence satisfactory to the Company, and the completion of the PCAOB audit under US GAAP. The parties expect the audit under US GAAP to be completed within approximately 8-10 weeks. The parties have agreed that the acquisitions will not engage in any negotiations or discussions with other potential acquirers and have also agreed to maintain the confidentiality of all of the acquisitions in order to protect the acquisition's competitive interests, and the interests of its many customers and employees, during the period of the acquisitions.
Mark Richards, the director for Astika Holdings stated, "We believe to be on track with Astika in agriculture as well by focusing on Nantong’s companies that lower associated costs, increase the yield and benefit Asia, New Zealand and the world markets. We are excited about the potential growth of this initial acquisition for Astika Holdings since China is the largest dredging market in the world with more than 29% of the $15bn total global dredging world market (*according to the International Association of Dredging Companies - IADC) and look forward to accelerating our future acquisition plans. We appreciate the support and are excited to lead the Company and its shareholders into the future."
Astika Holdings is in the process of making the necessary filings in Form 8-K which will be filed on the US SEC EDGAR system providing the specifics of developments. The new management intends to position the Company for an up-listing to a higher exchange such as the NASDAQ BX or NASDAQ, once the Company meets the financial status and market share price for up-listing qualification." The Company has begun the process of integrating management and moving its headquarters to Grey Lynn, Auckland, New Zealand.
Astika Holdings is focused on a variety of strategic acquisitions in service, agriculture and industrial companies to complement and grow Astika Holdings, Inc.'s business. The Company is positioning to capture the next wave of growth companies from Asia. Astika Holdings is focused on the Nantong region of China and is positioning to negotiate with growth companies from the Nantong region. Nantong is known as a "Pearl of the River and Sea," ideally situated near the mouth of the Yangtze river with a rich and diverse history dating back to the Chinese Han Dynasty. Inhabitants first lived in the region 5,000 years ago because of its abundant natural resources and access to the Yangtze river. Nantong has a national reputation of "the First Window on the Yangtze River" and is one of the China's prized national tourist centers. As the centerpiece in the Yangtze Delta Economic Zone, Nantong has enjoyed rapid economic growth and increasing foreign investments. The city is listed on the China's Top 100 Counties (county-level cities) for its strong economy. Nantong is one of China's first fourteen coastal cities open to international trade. Nantong is poised for accelerated economic growth with new bridges over the Yangtze River connecting the Nantong region to the Shanghai metropolitan region. With the development of the Rudong Yangkou Harbor Nantong offers the only natural deep water harbor in central China's coast with access to China's largest markets. Nantong's rich history of economic prosperity and growth converge with national modernization continue to make Nantong a major center for economic development in China. Astika Holdings intends to be a high growth company focused on adding value through successful project development, efficient operations, and opportunistic acquisitions while maintaining a low risk profile through project diversification, astute financial management and operating in secure jurisdictions.
Forward-Looking Statements - This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
