China Education Resources Inc. Announces Proposed Private Placement.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- China Education Resources Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CHN CHN China CHN Chain CHN Canadian Health Network CHN Coalition on Human Needs CHN California Homeschool Network CHN Cleveland Housing Network CHN Center for Human Nutrition CHN Carbon, Hydrogen, Nitrogen CHN Community Health Nurse ) today announced that it plans to proceed with a non-brokered private placement of 1,228,000 units at $0.57 per unit for gross proceeds of $700,000. Each unit consists of one common share and one half of a common share purchase warrant. Each whole warrant entitles the holder to acquire one common share for a period of two years at an exercise of $1.14 per share. The private placement is subject to the approval of the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. . About China Education Resources Inc. China Education Resources Inc. is a Canadian-based company focused on providing educational solutions to various segments of the Chinese economy. The admission of China into the WTO See World Trade Organization. and the granting of the 2008 Olympic Games Olympic games, premier athletic meeting of ancient Greece, and, in modern times, series of international sports contests. The Olympics of Ancient Greece Although records cannot verify games earlier than 776 B.C. to Beijing have created a growing demand for education, corporate training and extended learning in China which provides significant business opportunities to China Education Resources Inc. On August 2002, China Education Resources Inc. acquired Today's Teachers Technology and Culture Ltd. ("TTTC TTTC Test Technology Technical Committee (IEEE) TTTC The Tibetan Tea Company (band) TTTC Too Tough to Call TTTC Trees to the Curb (band) ") in China to expand its educational operations. TTTC is a 12-year-old educational product distribution company whose product line includes books, software, audio and video materials, and educational training tools. On September 2003, China Education Resources Inc. acquired Northern Education Books Ltd. ("NEB") which distributes a series of supplementary textbooks, similar to "Coles Notes," for the high school market. If you would like to receive press releases by email, please contact Ronald Shon, admin@chinaeducationresources.com FORWARD-LOOKING STATEMENTS forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. : Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding revenue estimates and future plans and objectives of China Education Resources Inc. - are forward-looking statements that are subject to various risks and uncertainties. Forward-looking statements are based on current expectations and analyses, including China Education Resources' analysis of its product and distribution system and its expectations regarding the effects of anticipated product and distribution changes and the potential benefits of such efforts and activities on China Education Resources' results of operations in future periods. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. China Education Resources Inc. (TSX VENTURE:CHN) |
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