CLAREMONT, CA– (March 4, 2016) – Kiwa Bio-Tech Products Group Corporation (OTC: KWBT) reported today that its China regional agent, Kangtan Gerui (Beijing) Bio-Tech Co., Ltd., has signed a sale agreement with Joyvio Great Northern Wilderness Holding Company (“Joyvio”), for an initial purchase of 10,000 tons of Kiwa’s special organic fertilizer for rice formula. Based on the terms of the agreement, KIWA special fertilizer will be delivered on or about March 15, 2016. The Company believes that initial sales under this agreement during calendar year 2016 will be approximately US$4 million.
The sale of Kiwa’s special fertilizer to Joyvio Great Northern Wilderness Corporation marks KIWA’s initial entry into the Northeast China market. Joyvio has plans to develop and plant nearly one million mu (approximately 164,737 acres) of high-end rice crop in the next three years, and the fertilizer products of KIWA will be extensively utilized in connection with this development.
Kiwa’s CEO, Mr. Jimmy Zhou, stated that “…in addition to the sales contract with Joyvio, KIWA has also started testing of KIWA fertilizer products with the large state-owned agricultural company in Heilongjiang-Kunfeng Agricultural Group in anticipation of utilizing KIWA fertilizer products in the Kunfeng planting area. We expect that this sales campaign in these two major agricultural planting areas in Northeast China will have a positive impact on the sales performance of KIWA fertilizers in connection with the company’s renewed overall market strategy.”