TORONTO, ONTARIO — (Marketwire) — 02/08/12 — Hanfeng Evergreen Inc. (“Hanfeng” or the “Company”) (TSX: HF) announced today that Agrium Inc.–s (“Agrium”) nominees to the Company–s Board of Directors, Andrew Mittag and Joni Paulus, have resigned from the Board of Directors of Hanfeng, effectively immediately.
“On behalf of the Board of Directors and management of Hanfeng, we would like to thank Joni and Andrew for their support and contributions to the Company as directors,” stated Loudon Owen, Chair of the Board for Hanfeng.
As announced earlier today by Agrium, Agrium will be retaining their equity investment in Hanfeng.
About Hanfeng Evergreen Inc.
Hanfeng is a leading producer and supplier of value-added fertilizer solutions in emerging markets. It is the largest producer of slow and controlled release fertilizer in two of world–s most significant agricultural markets: the People–s Republic of China (“China”) and the Republic of Indonesia. As the first company to introduce slow and controlled release fertilizers into China–s agriculture market, Hanfeng has established itself both as a market leader and innovator. A Canadian Company, Hanfeng is headquartered in Toronto, Ontario and its shares trade on the Toronto Stock Exchange under the ticker HF.
This press release contains forward-looking statements based on current expectations. Forward looking statements include, without limitation, statements evaluating market and general economic conditions, and statements regarding growth strategy and future-oriented projected revenue, costs and expenditures. Actual results could differ materially from those projected and should not be relied upon as a prediction of future events. A variety of inherent risks, uncertainties and factors, many of which are beyond Hanfeng–s control, affect the operations, performance and results of Hanfeng and its business, and could cause actual results to differ materially from current expectations of estimated or anticipated events or results. Risks and uncertainties about Hanfeng–s business are more fully discussed in the Company–s disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada. Hanfeng undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results or for any other reason. Readers are cautioned not to put undue reliance on forward-looking statements.
Contacts:
Hanfeng Evergreen Inc.
Niral V. Merchant
Chief Financial Officer
+1 (416) 368-8588
Kevin O–Connor
Investor Relations
+1 (416) 962-3300