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| | Thu Jan 17, 2008
China Education Resources Inc. Completes $2.3 Million Private Placement
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| | VANCOUVER, BRITISH COLUMBIA--(Jan. 17, 2008) - China Education Resources Inc. ("CER," the "Company") (TSX VENTURE:CHN - News; PINK SHEETS:CHNUF - News), announced today that they have completed a $2,300,000 private placement with Keywise Capital Management Company (Keywise) and other accredited investors, consisting of 4.6 million common shares at $0.50. The shares are subject to a four-month hold period, expiring May 18, 2008.
"We are pleased that Keywise Capital Management has recognized China Education Resources as a lucrative investment," CER Chairman and CEO Mr. Chengfeng Zhou commented. "This financing will enable us to deploy several new services, including our unique 'My Study Room', 'Push E-mail', online developed textbooks, and teaching English as a second language program. In addition, a portion of the funding will be used to enlarge CER's successful teacher-training program." China Education will provide "My Study Room" and "Push E-mail" services without charge initially and then begin fee-based charges once it has reached a decisive market-use threshold.
"Push E-mail" enables teachers, administrators and tutors to send appropriate education materials to help students complete their class course objectives. These materials may include newsletters, supplemental teaching materials, and administrative alerts, (i.e. school closing or other announcements). Students may also request additional materials to supplement their personal training goals.
"My Study Room" received tremendous accolades from teachers during the summer 2007 teacher-training seminar. Teachers and students use "My Study Room" to customize education content and network with others to meet his/her own education and social preferences. Each account contains multi-space features, such as education messaging, audio and video conferencing and virtual classrooms. Users may join any of several hundred education-groups or set up their own, join in virtual classrooms, tutoring groups, or other activities.
ABOUT KEYWISE CAPITAL MANAGEMENT
Keywise Capital is an asset management company licensed under SFC (Hong Kong Securities and Futures Commission) with headquarters office in HK and research offices in Beijing and Shanghai. Keywise sources of capital are primarily from international financial institutions, prestigious universities in the United States, global endowments and foundations. Keywise is a fundamental long-term value investor with investment focus primarily on companies in the Greater China markets (mainly Hong Kong, China, Taiwan and Singapore). Keywise's strategy ("Active Engagement Strategy") is to grow with its investment companies over the long term while providing sound independent friendly advice to them at the same time.
ABOUT CHINA EDUCATION RESOURCES INC.
In collaboration with China's Ministry of Education Curriculum Development Center, China Education Resources Inc., (CER), is helping to transform the curriculum of the world's largest educational system. Recognizing the need for centralization and increased accessibility to address the Chinese Central government's 2000 education reform policy changes, China Education Resources Inc. has created educational tools and curricula for China's entire kindergarten through twelfth grade system. By implementing the government's goal of converting the existing educational system from memory-based learning to creative thinking and utilizing a more interactive approach to embrace a world-based economy, CER has played an integral part in positioning China's educational system to reach new heights.
Safe Harbor Statement
This press release contains certain forward-looking statements that reflect the current views and/or expectations of China Education Resources Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
To receive press releases, investor newsletters and corporate updates, please email your request to: admin@chinaeducationresources.com.
The TSX Venture Exchange has not reviewed, and does not accept, responsibility for the adequacy or accuracy of the contents of this press release.
Contact:
Mr. Craig Bird
China Education Resources Inc.
Shareholder/Investor Information
(215) 885-4981
(215) 885-4982 (FAX)
Email: CHBird@segue.biz
Website: www.chinaeducationresources.com |
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