FUZHOU CITY, China, Jan. 13 /PRNewswire-FirstCall/ - Hiru Corporation (HIRU; www.hirucorporation.com) announced today that its Board of Directors and shareholders have approved a five-for-one forward split (5-1) of the Company's common stock and certain other actions.
In order to receive new shares, the shareholders will have to tender the old shares to the transfer agent. The record and effective dates for this split will be set with the assistance of FINRA, the Financial Industry Regulatory Authority. This process may take up to four weeks. Shareholders will be notified in advance when this occurs and need not take any action now. Certain anti-takeover provisions also have been added to the Articles of Incorporation.
Mr. Rongyu Ye, Chief Executive Officer of Hiru, said "We believe these actions will enhance the market for our stock and protect shareholder value as we continue to grow. If our shareholders have any questions about these actions, please let us know and we will be happy to assist you." The company is advised that the change in par value and the receipt of the new stock pursuant to the forward split will not be subject to United States federal income tax under existing laws.
Under our agreement with Hard To Treat Diseases this will affect the HTDS payout from 40 million shares to about 200 million shares to HTDS and its shareholders representing the purchase of the MindUp Bio Research Division.
Hiru Corporation is a parent company of China based pharmaceutical company - Jiang Xi Rongyu Pharmaceutical Group, Inc. (http://www.jxrongyuyy.com). Hiru opens its way to become a multinational player with substantial operations and revenues. Jiang Xi Rongyu Pharmaceutical Group, Inc. (http://www.jxrongyuyy.com/) is a strong and strategically-balanced Pharmaceutical Co with plans to enter international trade markets, expand and deliver the expanding product lines worldwide. The Company's main focus is on the production of Chinese traditional naturopathic medicine facility consisting of 60 acres of production fields (approx. 25 hectares) and over 7 hectares of a neighboring mountain outside Fuzhou City, Jiangxi Province.
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Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of Hiru Corp. that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project" and similar words and phrases are intended to identify such forward-looking statements. Hiru Corp. cautions you that any forward-looking information provided by or on behalf of Hiru Corp. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Hiru Corp.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Hiru Corp.'s control. In addition to those discussed in Hiru Corp.'s press releases, public filings, and statements by Hiru Corp.'s management, including, but not limited to, Hiru Corp.'s estimate of the sufficiency of its existing capital resources, Hiru Corp.'s ability to raise additional capital to fund future operations, Hiru Corp.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match Hiru Corp.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Hiru Corp. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
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SOURCE Hiru Corporation