Science & Technology
Science and Technology
Science and Technology
Fri, February 20, 2009
Thu, February 19, 2009 Vortex Resources and YaSheng Group Retain Council for Merger
BEVERLY HILLS, Calif.--([ BUSINESS WIRE ])--As disclosed by the Company on January 26, 2009 – via form 8-K, Vortex Resources Corp., an emerging resources company (OTCBB:[ VTEX ]) (the "Company"), entered into a Term Sheet (the "Term Sheet") with YaSheng Group ("YaSheng"), a conglomerate engaged in the agriculture, chemicals and biotechnology businesses in the People's Republic of China, for the development of a logistics centre and eco-trade cooperation zone in California, as well as providing YaSheng with the option to merge other assets into the Company as well.
The Company and the YaSheng announced today that the Companies have engaged Gregory Sichenzia of Sichenzia Ross Friedman Ference LLP to represent the companies for the reverse merger of the two companies, more commonly known as Super 8K.
The YaSheng Group was recently scheduled to participate in Roth Capital's 21st Annual OC Growth Stock Conference held at the Ritz Carlton in Dana Pt., California.
The transactions disclosed by the Company regarding the Term Sheet are subject to the drafting and negotiation of a final definitive agreement, performing due diligence as well as board approval of the Company. As such, there is no guarantee that the Company will be able to successfully close the above transaction.
About Sichenzia Ross Friedman Ference LLP ("SRFF"):
SRFF provides experienced, professional representation in all matters involving the securities industry, as well as in all general corporate and litigation matters.
SRFF clients range from start-ups to established, listed companies. They include private and public corporations, partnerships, broker-dealers, bank-affiliated broker-dealers, investment advisors, registered personnel, public and corporate customers and investors, partnerships and other entities. SRFF also advises institutional investors on transactions involving complex securities law considerations. SRFF practice includes the representation of clients located in the United States and throughout the World, including Argentina, Austria, Australia, Canada, China, Germany, Hungary, Israel, Korea, Malaysia, Mexico, Switzerland and the United Kingdom.
SRFF areas of expertise include corporate and commercial transactions, securities litigation, and arbitration, administrative practice before regulatory agencies, mergers and acquisitions and broker-dealer regulation. In addition, SRFF provide guidance to Boards of Directors and corporate managers who now operate in an increasingly complex and changing landscape of securities rules, litigation risks and investor scrutiny.
Further information concerning SRFF can be found on its website: [ http://www.srff.com ]
About YaSheng Group:
The YaSheng Group is a diversified industrial conglomerate incorporated in California, operates in hi-tech agriculture, salt chemistry and biological technology as its core Business with advantages in rich land, mineral resources, capital and technology reserves.
Through three major industries, Agriculture, Chemical, and Biotechnology, the company's operating categories include: chemical engineering, agricultural production, biotech, pharmaceuticals, textile products, printing and dyeing, commercial trading, beverages and inorganic salt manufacturing. With total assets of approximately $1.5 billion USD and over 15,000 employees, YaSheng Group has 155,097,355 shares issued and outstanding as of December 31, 2007.
Further information concerning YaSheng Group can be found on its website: [ http://www.yashenggroup.com ]
About Vortex Resources Corp.:
Vortex Resources Corp. (OTC:VTEX) is a publicly traded independent emerging resources company. The Company's focus is on the acquisition, exploration, and development of undervalued assets. The Company's objective is to find, acquire and develop resources at the lowest cost possible and recycle its cash flows into new projects yielding the highest returns with controlled risk. The company competencies include financial services, mergers and acquisitions, accounting, real estate development, and natural resources exploration. The company was established in 1972 and is headquartered in Beverly Hills, California.
Further information concerning Vortex Resources Corp. can be found on the corporate website: [ http://www.vortexrc.com ]
Forward-Looking Statements:
Certain statements contained in this press release are forward-looking statements that involve risks and uncertainties. The statements contained herein that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended.
