EFT BioTech Holdings, Inc.'s Subsidiary Receives First Permit to Cross Taiwan
Strait
CITY OF INDUSTRY, Calif. and HONG KONG, May 13 /PRNewswire-AsiaNet/ --
EFT BioTech Holdings, Inc. (Pink Sheets: EFTB), announced today that its
49% owned subsidiary, Excalibur International Marine Corporation, received
the first permit to ferry passengers across the Taiwan Strait between Taiwan
and Mainland China. Excalibur's OceanLaLa vessel is 207 foot long, 52 foot
wide and is capable of carrying over 300 tons of cargo and 370 passengers.
In November 2008, Taiwan and Mainland China entered into the Cross Taiwan
Strait Agreement, which since December 15, 2008 has permitted ocean access
through the Taiwan Strait directly between Taiwan and Mainland China,
something that had not been previously allowed for over the past 50 years.
Jack Qin, the President and CEO of EFT BioTech Holdings, commented, "I
believe that the Cross Taiwan Strait Agreement between Mainland China and
Taiwan could be very symbolic, allowing expansion of commerce and goodwill
between two strong, growing countries. By purchasing this 49% stake in
Excalibur and the first permits for OceanLaLa, we expect to provide the
company with a dynamic new revenue stream, and corporate diversification."
In October 2008, EFT, through a wholly-owned subsidiary EFT Investment
Company Ltd.(Taiwan), purchased a 49% interest in Excalibur International
Marine Corporation for an aggregate purchase price of USD $19,193,000.
About EFT BioTech Holdings, Inc.
EFT BioTech Holdings, Inc. is a Nevada holding company which conducts its
business through its wholly-owned subsidiary, EFT Biotech Holdings, Inc., and
its wholly owned subsidiaries and various vested interests. EFT BioTech
Holdings, Inc. is an e-commerce company serving consumers with EFT's "made in
USA" neutraceuticals, health and beauty EFT branded products through its
proprietary online business platform and website, www.eftb.us. Although our
products are available for sale throughout the world, most Affiliates and
consumers are located in China and Hong Kong. The contents of the Company's
website are not incorporated by reference herein.
Safe Harbor for Forward-Looking Statements
Statements made in this release with the respect to the Company's current
plans, estimates, strategies and beliefs and other statements that are not
historical are forward-looking statements. Forward-looking statements
include, but are not limited to, those statements using words such as
"believe," "expect," "plans," "strategy," prospects," "forecast," "estimate,"
"project," "anticipate," "aim," "may" or "might" and words of similar meaning
in connection with a discussion of future operations, financial performance,
vents or conditions. From time to time, oral or written forward-looking
statements may also be included in other materials released to the public.
These statements are based on management's assumptions and belief in light of
the information currently available to it. The company cautions you that a
number of important risks and uncertainties could cause actual results to
materially differ from those discussed in the forward-looking statements, and
therefore, you should not place undue reliance on them. You also should not
rely on any obligation of the Company to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise. The company disclaims any such obligation unless required by law.
Risks and uncertainties that might affect the Company include, but are not
limited to (i) the global economic environment in which the Company operates,
as well as the economic conditions in the Company's markets, (ii) levels of
consumer spending, and (iii) exchange rates, particularly between the Chinese
Yen and the U.S. Dollar. Risks and uncertainties also include the impact of
any future events with material adverse impacts.
SOURCE: EFT BioTech Holdings, Inc.
CONTACT: Ed Carter of
Aero Strategic Advisory, A division of Aero Financial, Inc.,
+1-702-982-7732, for EFT BioTech Holdings, Inc.
(EFTB)
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