Halter Financial Group Completes $15.3 Million APO® with Fu Jian Yada Group Co. Ltd.
Halter Financial Group consulted on an APO® transaction between SMSA Palestine Acquisition Corp., a public shell corporation formerly controlled by HFG, and Fu Jian Yada Group Co. Ltd., a PRC company. Yada is a grower, processor and distributer of over 100 varieties of fresh and processed agricultural products, including bamboo shoot products, fresh vegetables and fruits, and processed vegetables. In a contemporaneous private offering, Yada closed a private placement of securities whereby it issued shares of its common stock for gross proceeds of $15.3 million. SMSA Palestine Acquisition Corp common stock is currently traded on the OTCBB under the symbol SMPN.OB.