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 yesterday 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 with the launch of Nantong HZ Hemp Co. Ltd.
Due to the positive response to Astika’s entrance into the Industrial Hemp sector to grow the Company’s agriculture initiatives and revenues, Mark Richards, the director for Astika Holdings commented, “the Hemp initiative runs parallel with Astika’s "Green Future" objectives with the Nantong Grain Seeder of High Accuracy which meets the requirement of agriculture modernization in China, performs a multi-function agriculture process which reduces the utilization of tractors, lowers the associated costs, increases the yield, uses less fertilization, decreases pollution and protects the environment."
Hemp requires little to no pesticides, no herbicides, controls erosion of the topsoil, produces oxygen and can be used to replace many potentially harmful products, such as tree paper (the processing of which uses chlorine bleach, which results in the waste product polychlorinated dioxins, which are carcinogenic, and contribute to deforestation, cosmetics, and plastics, most of which are petroleum-based and do not decompose easily. Hemp produces 4 times the raw material than trees for paper making and can be planted between 1-3 times a season, depending on location, be recycled up to 10 times, compared to 3 or 4 times for wood pulp paper. The same hemp fiber products from a hemp harvest provides raw-materials for products such as, paper, textiles, building materials, industrial materials, foods, cosmetics and a host of other sustainable Green products.
With China as the single largest supplier of US imports of raw and processed hemp fiber, Astika focused its agriculture plans in the high-profile Industrial Hemp sector in China and New Zealand where the opportunity is available to generate revenues. The 2012 Annual Retail Sales for Hemp Report, estimates the total US retail value of hemp products in 2012 was nearly $500 million (The Hemp Industries Association or "HIA"). Astika believes that China will continue to have influence on Hemp market prices, year-to-year profits of producers and processors in other countries.
The Company intends to be issuing press releases to its shareholders in the coming days and weeks outlining a series of potential acquisitions and expansion. Astika Holdings is in the process of making the necessary filings in Form 8-Ks, 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