Business
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces Reverse Merger with Hebei Haorizi Company Ltd, a China based Company
Esprit Financial Group Inc. (Esprit) (EFGO.PK) Announces Reverse Merger with Hebei Haorizi Company Ltd, a China based Company.
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[{"type":"text","content":"Beijing China, November 28, 2007 - Esprit Financial Group Inc. (ESPRIT) (EFGO.PK) is pleased to announce that it has signed a firm and binding agreement to complete a reverse merger with Hebei Haorizi Company Ltd.., a China based company. \n\nThe merger, will include both cash and stock together with $5,000,000 in special financing through existing preferred shares and common stock. \n\nHebei Haorizi conducts business primarily in the Hebei Province China. Haorizi translates to the equivalent of \"Good Life\" in English. Their Chinese corporate sight can be viewed at www.haorizi.com and a new English website has been set up to provide an overview of the two merged companies at www.goodlifechina.com. \n\nThe formal press conference and the signing ceremony between Ms. Jongmei Jia and Mr. Garr Winters was held the morning of November 28th, at the headquarters of Good Life in Shijiazhuang China. The event was a major business story in the city of Shijiazhuang and press coverage was carried on Hebei TV, The Hebei Daily News, The Yanzhao Dushi Bao and Hebei radio. \n\nSome of the attendees at the ceremony were;\n\n?\tDeputy mayor of Shijiazhuang - Zhang Diankui, \n?\tDeputy of the Secretary-General for Hebei Province \n - Tang hua ming; \n?\tMr. Chen deputy director of Beijing\n?\tMr Tang Min Deputy Secretary General\n?\tMs. Ma Yu Director of State Development Hebei Province\n\nMr. Johnason Xie, Vice President of Good Life advised; \"We have been searching a long time for a suitable merger candidate with which to go public, and we see Esprit as a perfect match with what they bring to the table. Esprit's management team, their existing infrastructure, their technology and experience in my opinion is the best that we have seen period. We have been approached by many public companies and Esprit fits us and our vision like a custom made glove. We see this merger as a WIN-WIN proposition.\" \n\nEsprit and Good Life management, estimate that the formal completion of the merger will take place as soon as the necessary filings with various authorities are completed, \nwith a date most likely before December 31, 2007.\n\nGood Life is one of the most successful, fastest growing, and most recognizable retail chains of Convenience style stores in Hebei Province, China (population 65 million), with 3 distribution centers servicing its 1,600 locat...