Kingold Jewelry Reports Termination Of At Market Issuance Sales Agreement

(RTTNews) - Kingold Jewelry, Inc. (KGJI), a manufacturer and designer of high quality 24-karat gold jewelry, ornaments and investment oriented products, announced that it and MLV & Co. LLC mutually agreed to immediately terminate the previously announced At Market Issuance Sales Agreement under which the firm could have offered and sold up to $10 million of shares from time to time with MLV as sales agent. The firm did not sell any common shares under the ATM Facility.

Kingold's Chairman plans to schedule a board meeting to review corporate strategy with a view towards enhancing stockholder value. The review process will be ongoing and is likely to define corporate goals that focus on increasing stockholder value, providing greater access to management, setting high standards of corporate governance, reviewing the role of professional advisors and providing investors with the appropriate level of information and transparency.