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| | Wed Feb 3, 2010
China Education Resources Inc. completes $795,000 Private Placement and Hires Investor Relations Company
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| | VANCOUVER, BRITISH COLUMBIA--(February 03, 2010) - China Education Resources Inc. ("China Education", "CER", "the Company") (TSX VENTURE:CHN) (PINK SHEETS:CHNUF) -- today announced that it has completed a $795,000 private placement consisting of 1,500,000 common shares at $0.53. The shares are subject to a four month hold period expiring on June 3, 2010.
"We are very pleased that the majority of the private placement was placed with insiders in Canada and senior management based in China," said C.F. Zhou, Chairman and CEO. "Their additional investment in the company has demonstrated very clearly their confidence in the company's future direction."
The company also announced that it has retained the California-based firm Equiti-trend Advisors LLC to provide investor relations and public relations in North America. The agreement with Equiti-trend contemplates services being provided for an initial six month period. Under the terms of the agreement, Equiti-trend will be paid USD $30,000 for the six month period and an incentive stock option grant of 70,000 shares exercisable at $0.60 CDN per share subject to the Toronto Stock Exchange.
ABOUT CHINA EDUCATION RESOURCES INC.
In collaboration with China's various education authorities and experts, 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, CER 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: China Education Resources Inc. (604) 683-6865
Equiti-trend Advisors LLC (800) 953-3350
Website: http://www.chinaeducationresources.com
Source: China Education Resources Inc. |
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