Hanfeng Evergreen Inc. Defers Shareholder Meeting

Hanfeng Evergreen Inc. (TSX:HF) ("Hanfeng" or the "Corporation") reported today
that it has decided to defer its annual meeting of shareholders, originally
scheduled to be held February 28, 2014. Subject to regulatory approval, it is
anticipated that the meeting will be held on June 13, 2014. 


As previously announced, the Corporation has terminated the employment of Xinduo
Yu as Chief Executive Officer of the Corporation and has engaged FTI Consulting
("FTI") to provide interim management services in China. Representatives of FTI
are now the legal representatives for the China-based subsidiaries, and are
therefore responsible for the operations and are in the process of registering
their status with the local government authorities. 


On January 15, 2014, the Toronto Stock Exchange suspended trading in the
Corporation's common shares pending clarification of the Corporation's affairs.
Trading in the Corporation's common shares remains halted.  


The board of directors and management are actively working to effect a
transition of management control over the operations following the termination
of Mr. Yu and stabilize the business and re-establish commercial relations with
the Corporation's major customers, while recruiting independent directors for
nomination at the June 13, 2014 shareholders' meeting. The Corporation is
working with the Toronto Stock Exchange to enable trading in the Corporation's
common shares to resume. 


Despite the issuance by Mr. Yu of a dissident proxy circular yesterday, dated
February 1, 2014, the Corporation's shareholders' meeting will take place on
June 13, 2014 and not February 28, 2014. 


Forward-Looking Statements 

This news release contains forward-looking statements based on current
expectations, including but not limited to the Corporation's plans, objectives
and expectations and the exploration by the Corporation of strategic
alternatives. These forward-looking statements entail various risks and
uncertainties that could cause actual results to differ materially from those
reflected in these forward-looking statements. Risks and uncertainties about the
Corporation's business are more fully discussed in the Corporation's disclosure
materials, including its annual information form and MD&A, filed with the
securities regulatory authorities in Canada. Additional important factors that
could cause actual results to differ materially include, but are not limited to:
the ability of the Corporation to preserve or monetize its working capital; the
effective ability of the Corporation to appoint directors and representatives of
its subsidiaries in China and elsewhere; delays in financial reporting; and the
implementation of any alternative or financing transaction on acceptable terms.
Forward-looking statements are not guarantees of future performance. In light of
the significant uncertainties inherent in the forward-looking statements
included herein, any such forward-looking statements should not be regarded as
representations by the Corporation that its respective objectives or plans will
be achieved. Investors are cautioned not to place undue reliance on any
forward-looking statements contained herein. Forward-looking statements are
provided for the purpose of providing information about the Corporation's
current expectations and plans relating to the future. Readers are cautioned
that such information may not be appropriate for other purposes. In addition,
these forward-looking statements relate to the date on which they are made. The
Corporation expressly disclaims any intention or obligation to update or revise
any forward-looking statements or the foregoing list of factors, whether as a
result of new information, future events or otherwise, except to the extent
required by law. 


About Hanfeng Evergreen Inc. 

Hanfeng is a leading producer and supplier of value-added fertilizer solutions
in emerging markets. It is the largest producer of slow and controlled release
fertilizer in two of world's most significant agricultural markets: the People's
Republic of China and the Republic of Indonesia. Hanfeng is headquartered in
Toronto, Ontario and its shares are listed on the Toronto Stock Exchange under
the symbol HF.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Hanfeng Evergreen Inc.
Loudon Owen
Chairman of the Board of Directors
(416) 363-2000
lowen@mcleanwatson.com


Spinnaker Capital Markets Inc.
Kevin O'Connor
Investor Relations
(416) 962-3300
ko@spinnakercmi.com
FTI Foodtech (TSXV:FTI)
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