BEIJING, Jan. 15 /PRNewswire-FirstCall/ -- Golden Dragon Holdings, Inc. (Other OTC: GDHI - News) http://www.gdfbhk.com an international food and beverage distributor, today announced that during the yearend Board of Directors meeting, held on January 9th, 2010 the Board voted by unanimous decision to retire 1,000,000,000 shares of common stock. The Board will immediately retire 400,000,000 million shares of common stock and public confirmation can be made from our Transfer Agent Guardian Registrar & Transfer, Inc. Additionally, every month on the 15th the board will retire 100,000,000 million share for the next 6 months to reach the total retired value of 1,000,000,000 shares of common stock.
Mr. Frank J. Yglesias stated, "This is a positive step forward in improving the company's overall capital share structure and bring value to our shareholders."
About Golden Dragon Holdings, Inc.
Golden Dragon Holdings, Inc. owns and operates Golden Dragon Food & Beverage Import & Export Company of Hong Kong, Ltd. (GDHK) in central Hong Kong and Beijing Flying Golden Dragon International Trading Co., Ltd in China (BFGD). Golden Dragon Holdings, Inc. has agreements with U.S. food manufacturers. GDHI acts as a buying agent for GDHK, negotiating vendor contracts and services with U.S. food and beverage industry partners. The Hong Kong Company plays a strategic role in the importation of products into the Chinese market by leveraging the Closer Economic Partnership Arrangement (CEPA) with China. Through this arrangement, Beijing Flying Golden Dragon International Trading Co., Ltd distributes some of the most popular U.S. food and beverage brand products directly into the hypermarkets, supermarkets and convenience stores in China. The Company is responsible for order fulfillment for its clients in China, as well as providing advertising and promotion (A&P) services for its U.S. food and beverage products.
Safe Harbor Statement
Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995.
SOURCE Golden Dragon Holdings, Inc.