China ACM Files Registration Statement to Provide Additional Financing Flexibility
December 29 2009 - 8:15AM
PR Newswire (US)
NEW YORK and BEIJING, Dec. 29 /PRNewswire-FirstCall/ -- China
Advanced Construction Materials Group, Inc. ("China ACM")
(NASDAQ:CADC), a leading provider of ready-mix concrete in China,
today announced the filing of a Form S-3 shelf registration
statement with the Securities and Exchange Commission ("SEC"). Once
the shelf registration statement is declared effective by the SEC,
the Company may offer and sell its securities from time to time in
the future. The securities may be offered in one or more offerings,
and at prices subject to prevailing market conditions to be set
forth in a supplemental prospectus filing with the SEC at the time
of such offering, should such an offering occur. This registration
statement will provide the Company with additional flexibility to
raise capital, depending on favorable market conditions. At
present, however, China ACM does not currently have any commitments
to sell securities. Unless otherwise specified in the applicable
prospectus supplement, the net proceeds from any offering under the
registration statement would be used for general corporate
purposes, including capital for the deployment of additional
portable plants. The Company could not have filed this shelf
registration prior to the NASDAQ listing and management believes
this action is appropriate to allow the Company to avail itself to
options for potential equity funding in the future. No securities
may be sold, and no offers to purchase securities, under the
registration statement may be accepted until the registration
statement is declared effective by the SEC. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities in
any state or jurisdiction in which such an offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such state or jurisdiction. About China
ACM China ACM, founded in 2002 and based in Beijing, China, is a
leading producer of advanced construction materials for large scale
commercial, residential, and infrastructure developments. The
company is primarily focused on producing and supplying a wide
range of advanced ready-mix concrete materials for highly
technical, large scale, and environmental construction projects.
The company also aims to develop and produce new and innovative
environmentally conscious construction materials. China ACM
provides materials and services through its six ready-mix concrete
plant network covering Beijing metropolitan area. China ACM owns
one plant, leases three plants and has technical services and
preferred procurement agreements with two other independently-owned
plants. China ACM is ISO 9001 (product quality), ISO 14001
(environmental safety), and ISO 18001 (employment environment
safety) certified. Additional information about the company is
available at http://www.china-acm.com/. This press release contains
"forward-looking statements" within the meaning of the
"safe-harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Such statements involve known and unknown
risks, uncertainties and other factors that could cause the actual
results of the Company to differ materially from the results
expressed or implied by such statements, including changes from
anticipated levels of sales, future national or regional economic
and competitive and regulatory conditions, changes in relationships
with customers, access to capital, difficulties in developing and
marketing new products, marketing existing products, customer
acceptance of existing and new products, and other factors.
Additional Information regarding risks can be found in the
Company's Annual Report on Form 10K and in the Company's recent
report on Form 8K filed with the SEC. Accordingly, although the
Company believes that the expectations reflected in such
forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct. The
Company has no obligation to update the forward-looking information
contained in this press release. Contact: Kevin Theiss Grayling
Tel: (646) 284-9409 Email: DATASOURCE: China Advanced Construction
Materials Group, Inc. CONTACT: Kevin Theiss, Grayling,
+1-646-284-9409, Web Site: http://www.china-acm.com/
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