AUCKLAND, New Zealand--(BUSINESS WIRE)--Astika Holdings, Inc. (the "Company") (OTCQB: ASKH) a strategic acquisition company of service, agriculture and industrial companies from the Nantong Region in China announced today that it is entering into the Industrial Hemp sector through partnerships with current leaseholders with the goal of acquiring operating facilities to begin its own facilities in Asia and New Zealand. Astika further announces the launch of Nantong HZ Hemp Co. Ltd which shall be utilized for Industrial Hemp and related projects. Astika’s entrance into the Industrial Hemp sector is in conjunction with Astika's commitment to acquisitions and development of agriculture in Asia and New Zealand.
Mark Richards, the director for Astika Holdings stated, “Global demand for hemp is increasing. The Company’s existing relationships with China coupled with New Zealand infrastructure for seed production and food processing along with New Zealand’s temperate climate and ideal soils offers Astika a position to capture the added value and economic benefits that this opportunity presents. We are rapidly adding to Astika’s plans in agriculture by focusing our attention on acquisitions and partners in the high-profile Industrial Hemp sector in China, New Zealand and the world markets. We are excited about this sector and growth opportunity for Astika Holdings and look forward to accelerating all of the Company’s acquisition plans. We appreciate the support and are excited to lead the Company and its shareholders into the future."
Since the Industrial Hemp industry is expanding at a rapid pace Astika has accelerated the Company’s negotiations with its relationships in the Nantong Region in China and New Zealand to expand into the sector. With China being the single largest supplier of U.S. imports of raw and processed hemp fiber and seed producer it will continue to have major influence on market prices and thus on the year-to-year profits of producers and processors in other countries. According to the 2012 Annual Retail Sales for Hemp Report, the Hemp Industries Association (HIA) estimates that the total U.S. retail value of hemp products in 2012 was nearly $500 million. China is the largest producing and exporting nation of hemp textiles and related products, as well as a major supplier of these products to the United States. “China produces 38% of the world’s hemp fiber supply; and 80% of the world’s hemp seed supply. The Chinese plan to increase the current 150,000 acres of hemp production to over 1,000,000+ acres over the next decade,” Malinda Geisler of the Agricultural Marketing Resource Center.
Astika Holdings is in the process of making the necessary filings in Form 8-K whichK, which will be filed on the US SEC EDGAR system providing the specifics of developments. The new management intends to position the Company for an up-listing to a higher exchange such as the NASDAQ BX or NASDAQ, once the Company meets the financial status and market share price for up-listing qualification." The Company has begun the process of integrating management and moving its headquarters to Grey Lynn, Auckland, New Zealand.
Astika Holdings, Inc. (OTCQB: ASKH) (http://nantongventures.com)
Astika Holdings is focused on a variety of strategic acquisitions in service, agriculture and industrial companies to compliment and grow Astika Holdings, Inc.'s business. The Company is positioning to capture the next wave of growth companies from Asia. Astika Holdings is focused on the Nantong region of China and is positioning to negotiate with growth companies from the Nantong region. Nantong is known as a "Pearl of the River and Sea," ideally situated near the mouth of the Yangtze river with a rich and diverse history dating back to the Chinese Han Dynasty. Inhabitants first lived in the region 5,000 years ago because of its abundant natural resources and access to the Yangtze river. Nantong has a national reputation of "the First Window on the Yangtze River" and is one of the China's prized national tourist centers. As the centerpiece in the Yangtze Delta Economic Zone, Nantong has enjoyed rapid economic growth and increasing foreign investments. The city is listed on the China's Top 100 Counties (county-level cities) for its strong economy. Nantong is one of China's first fourteen coastal cities open to international trade. Nantong is poised for accelerated economic growth with new bridges over the Yangtze River connecting the Nantong region to the Shanghai metropolitan region. With the development of the Rudong Yangkou Harbor Nantong offers the only natural deep water harbor in central China's coast with access to China's largest markets. Nantong's rich history of economic prosperity and growth converge with national modernization continue to make Nantong a major center for economic development in China. Astika Holdings intends to be a high growth company focused on adding value through successful project development, efficient operations, and opportunistic acquisitions while maintaining a low risk profile through project diversification, astute financial management and operating in secure jurisdictions.
Forward-Looking Statements - This press release may contain certain forward-looking statements within the meaning of Section 27A of the Securities and Exchange Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and such Forward Looking Statements are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainties. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to the viability of the company's business plans, the effect of acquisitions on our profitability, the effectiveness, profitability, and the marketability of the Company's products; the Company's ability to protect its proprietary information; general economic and business conditions; the volatility of the company's operating results and financial condition; and other risks detailed in the Company's filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, management cannot assure the public that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
INVESTOR RELATIONS CONTACT
ASTIKA HOLDINGS, INC.
Contact: Mark Richards, Director
Tel: 64 9 889 3327