OMAHA, Neb., Nov. 25, 2011 (GLOBE NEWSWIRE) -- Rising India, Inc. (Pink Sheets:RSII) a publicly traded company, announced today that current acquisition effort to purchase all of the outstanding common shares of the company remains underway. On September 15, 2011, Rising India, Inc. announced a stock purchase agreement that provided for a scheduled closing on or before November 25, 2011.
In furtherance of the acquisition, Rising India received a letter from King Capital International Pvt. Ltd., wherein its Managing Director, Sunny Yang, stated the following:
"King Capital remains very optimistic about facilitating the funding required to consummate the acquisition with Rising India.
"Some delays have slowed the process, but the enthusiasm for Rising India and its tremendous world-wide animation potential is very high. Also, as you are well aware efforts to help finance the several projects presently with Rising India is also quite advanced.
"We remain focused on facilitating the first $4 per share for Rising India and have underway means to enable and complete that.
"We appreciate your patience in enabling us to work together to develop Rising India into a premier world-wide animation firm."
Arthur H. Taylor, President of Rising India, Inc., was very pleased with the letter from Mr. Yang and looks forward to working towards completion of the acquisition. As noted by Mr. Taylor, "King Capital has great confidence in Rising India, and we believe that Rising India's business will be of value."
Rising India, Inc. wholly owns International Animation & Film Group Ltd, a Singapore company, and Grace Lyster Software Solutions Pvt. Ltd., an Indian subsidiary. In addition to the United States, Rising India, Inc. has business operations in India, Singapore and Hong Kong.
Rising India, Inc. is a United States based public company with an international market in the management and financing of innovative digital special effects and 3D character animation for films and TV production.
The company has on-going business relationships with Asian companies that provide extensive background and expertise in the animation field as well as the financing of animation and family-friendly movie projects. As a result of its international scope and relationships, Rising India is involved in the development, creation and marketing of animation projects for the world market and anticipates significant growth in this expanding industry.
Forward-Looking Statements: Investors are cautioned that certain statements contained in this document are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects" and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future Rising India, Inc. actions, which may be provided by management, are also forward-looking statements as defined by the act. These statements are not guarantees of future performance."