Hongli Clean Energy Technologies Corp. Reaches Loan Extension Agreement With Bairui Trust
09 Octubre 2015 - 7:00AM
Hongli Clean Energy Technologies Corp. (NASDAQ:CETC) ("Hongli" or
the "Company"), a vertically integrated producer of clean energy
products located in Henan Province, today announced that the
Company and Bairui Trust Co., Ltd. (the "Lender") had reached an
agreement that allowed the Company to extend the maturity date of a
RMB 180 million (approximately $29.3 million) loan (the "Loan")
from the Lender from October 2, 2015, to April 2, 2016. The annual
interest rate of the Loan remains unchanged at 11.88%. Due to a
national holiday in China, the agreement was executed on October 8,
2015.
About Hongli Clean Energy Technologies
Corp.
Previously known as SinoCoking Coal and Coke Chemical
Industries, Inc., Hongli Clean Energy Technologies Corp. ("Hongli"
or the "Company") is a Florida corporation and an emerging producer
of clean energy products located in Pingdingshan City, Henan
Province, China. The Company has historically been a
vertically-integrated coal and coke processor of basic and
value-added coal products for steel manufacturers, power
generators, and various industrial users. The Company has been
producing metallurgical coke since 2002, and acts as a key supplier
to regional steel producers in central China. The Company also
produces and supplies thermal coal to its customers in central
China. The Company currently owns its assets and conducts its
operations through its subsidiaries, Top Favour Limited and
Pingdingshan Hongyuan Energy Science and Technology Development
Co., Ltd., and its affiliated companies, Henan Province
Pingdingshan Hongli Coal & Coke Co., Ltd., Baofeng Coking
Factory, Baofeng Hongchang Coal Co., Ltd., Baofeng Hongguang
Environment Protection Electricity Generating Co., Ltd., Zhonghong
Energy Investment Company, Henan Hongyuan Coal Seam Gas Engineering
Technology Co., Ltd., Baofeng Shuangri Coal Mining Co., Ltd., and
Baofeng Xingsheng Coal Mining Co., Ltd.
For additional information on the Company, please go to
http://www.cetcchina.net/ or refer to the company's periodic
reports filed with the Securities and Exchange Commission
(http://www.cetcchina.net/sec-filings.html). Investors wishing to
receive the Company's corporate communications as they become
available may go to the company's Investor Relations site
(http://www.cetcchina.net/corporate-overview.html) and register
under Email Alerts.
Also, investors may submit questions directly to Mr. Lv and his
staff to receive non-confidential information about the company's
operations and products at the company's "Ask Management" blog
(http://www.cetcchina.net/ask-management.html).
Forward-Looking Statements
This press release contains forward-looking statements,
particularly as related to, among other things, the business plans
of the Company, statements relating to goals, plans and projections
regarding the Company's financial position and business strategy.
The words or phrases "plans," "would be," "will allow," "intends
to," "may result," "are expected to," "will continue,"
"anticipates," "expects," "estimate," "project," "indicate,"
"could," "potentially," "should," "believe," "think," "considers"
or similar expressions are intended to identify "forward-looking
statements." These forward-looking statements fall within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Act of 1934 and are subject to the safe
harbor created by these sections. Actual results could differ
materially from those projected in the forward-looking statements
as a result of a number of risks and uncertainties. Such
forward-looking statements are based on current expectations,
involve known and unknown risks, a reliance on third parties for
information, transactions or orders that may be cancelled, and
other factors that may cause our actual results, performance or
achievements, or developments in our industry, to differ materially
from the anticipated results, performance or achievements expressed
or implied by such forward-looking statements. Factors that could
cause actual results to differ materially from anticipated results
include risks and uncertainties related to the fluctuation of
local, regional, and global economic conditions, the performance of
management and our employees, our ability to obtain financing,
competition, general economic conditions and other factors that are
detailed in our periodic reports and on documents we file from time
to time with the Securities and Exchange Commission. Statements
made herein are as of the date of this press release and should not
be relied upon as of any subsequent date, and the Company
specifically disclaims any obligation, to update any
forward-looking statements to reflect occurrences, developments,
unanticipated events or circumstances after the date of such
statement.
CONTACT: Company Contact:
Song Lv, CFO
Phone: + 86-375-2882-999
Email: lvsong@sinocoking.net
Website: http://www.cetcchina.net/
Investor Relations Contact:
Tina Xiao
Weitian Group LLC
Phone: +1-917-609-0333
Email: tina.xiao@weitian-ir.com
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