Business
Yangtze River Development Limited Issues Statement About Promotional Activity Surrounding its Common Stock
Yangtze River Development Limited Issues Statement About Promotional Activity Surrounding its Common Stock.
About this update from Yangtze River Port & Logistics Ltd
[{"type":"text","content":"NEW YORK, NY and WUHAN, CHINA / November 16, 2016 / Yangtze\nRiver Development Limited, (OTCQB: YERR) (the \"Company”) announced today that it has\nbeen requested by the OTC Markets Group (“OTC Markets”) to comment on recent\ntrading and promotional activity concerning YERR common stock.\n\nOn\nNovember 11, 2016, OTC\nMarkets informed the Company that it became aware\nof certain promotional activities concerning the Company's stock. Included\namong the activities were certain promotional newsletter emails encouraging\ninvestors to purchase the Company's common stock. This promotional activity may\nhave contributed to recent higher than average trading volume in the Company's\nstock price. The Company was unaware of the promotional activity until informed\nby OTC Markets and is unaware of the full nature and content of this\npromotional activity, the responsible parties and the extent of the email\nnewsletters’ dissemination.\n\nThe\nCompany confirms and states definitively that the Company, its officers,\ndirectors and, to the Company's knowledge, any controlling shareholders (i.e.,\nshareholders owning 10% or more of the Company's securities) have not, either directly\nor indirectly, authorized or been involved in any way with the creation or\ndistribution of promotional materials related to the Company and its securities\n(including payment to a third-party). \nThe Company further attests that its officers, directors and, to the\nknowledge of the Company, any controlling shareholders, have neither sold nor\npurchased the Company's securities within the past 30 days.\n\nIn\naddition, the Company has at no point issued convertible instruments allowing\nconversion to equity securities at prices constituting a discount to the market\nrate of our common stock.\n\n“For the record, the Company has\nno IR/PR program underway and is not affiliated with the promotional materials’ author or its affiliated entities\nor persons.” stated Xiangyao Liu, the CEO of the Company. The business of the\nCompany and the industries within which the Company operates are subject to\nnumerous and significant risks and as a result, the Company encourages those\ninterested in the Company to rely solely on information included in official\nCompany press releases, website content, and its filings and disclosures made\nwith the Securities and Excha...