Pacific Northwest Productions Inc. Closes Definitive Share Purchase Agreement with Xi'an Tsining Housing Development Co., Ltd.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Pacific Northwest Productions Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : PNWP) today announced that it had entered into and closed a Share Purchase Agreement with Xi'an Tsining Housing Development Co., Ltd. a corporation formed under the laws of the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China, and the Tsining shareholders. Pursuant to the agreement, Pacific Northwest Productions issued to the Tsining shareholders 2,000,000 restricted shares of common stock in exchange for all of the issued and outstanding shares of Tsining. Based in Xi'an in the Shaanxi Province, China Housing and Land Development, Inc. is engaged in the development and sale of commercial and residential real estate properties in China. Incorporated under the Chinese law Chinese law Law that evolved in China from the earliest times until the 20th century, when Western socialist law (see Soviet law) was introduced. The oldest extant and complete Chinese law code was compiled in AD 653 during the Tang dynasty. in September 1999, the Company is the leading developer of residential housing in Xi'an and is one of the largest privately owned real estate companies in western China. At closing, the previous officers and one director of the company resigned and executive officers of Tsining were appointed as executive officers of the company and one was appointed as a director. In addition, principal stockholders of the company agreed to the cancellation of 1,000,000 shares of common stock. Upon closing, the company has a total of 2,500,000 shares outstanding. The agreement contemplates that Pacific will, upon receipt of the appropriate regulatory approval, change its name to China Housing and Land Development, Inc. to reflect its business in China, change its ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors and issue a stock dividend of 7 shares for each share currently outstanding. The company will have a total of 20,000,000 shares outstanding post dividend. This press release may contain certain forward-looking information and statement concerning the company's operations, performance and financial condition. These statements are based upon a number of uncertainties and contingencies Contingencies (ISSN 1048-9851) is the bimonthly magazine of the American Academy of Actuaries, providing a large and diverse readership with general interest and technical articles on a wide range of issues related to the actuarial profession. , many of which are beyond the control of the company. Actual results may differ materially from those expressed or implied by such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . This document is not intended to be and is not an advertisement for any securities of the company. |
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