China Education Resources Inc. Appoints American Director.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 the appointment of Jeffrey Munks to the Board of Directors. Mr. Munks is a native and resident of California and has 25 years of senior business experience in a variety of areas including eLearning, network technologies, and language services. He has also worked in higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. , where his entrepreneurial business skills helped generate new models for public-private partnering. Mr. Munks currently works for Anteon Corporation as a senior program manager and is assigned to the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Navy's Executive Learning Office where, for the last 3 1/2 years, he has helped develop and manage programs supporting the career professional development of Navy admirals and senior civilian executives. Previously, Mr. Munks was a co-founder of Language Line Services, a company that makes interpreters in 140 languages available over the phone to support virtually any application. Language Line was acquired by AT&T in 1989 and Munks stayed to help lead the business through more than a 4,000% in revenue growth over a five year period. Language Line was recently acquired by ABRY Partners ABRY Partners is a private equity firm headquartered in Boston, Massachusetts that focuses on investments in media. Since 1989, the firm has completed over $18.0 billion of leveraged transactions and other private equity and mezzanine investments, representing investments in more for more than $700M. In 1997, Mr. Munks secured $4 million U.S. in venture funding and founded Arista arista (ä·riˑ·st Knowledge Systems, a software company that pioneered digital content management processes to support network-based elearning applications. Arista was acquired by industry leader Digital Think Inc. in July 2000 in a cash and stock deal worth approximately $30 million U.S. Chengfeng Zhou, Chairman, said, "We are very happy to welcome Mr. Munks to the Board. I am confident that he will be a significant contributor to our business. His knowledge in the e-learning area and prior business experience developing educational programs in China will be especially important as we develop and roll out our web-based education resources portal in China. His record of successes and his connections in the American investment banking community will also benefit our Board as we pursue our stated objective of securing a listing on a United States stock exchange and begin to gain exposure in the United States." Further to news release dated August 22, 2005, due to filing/response time constraints In law, time constraints are placed on certain actions and filings in the interest of speedy justice, and additionally to prevent the evasion of the ends of justice by waiting until a matter is moot. and registration requirements, China Education has withdrawn its United States 20-F registration statement. The Company anticipates updating its filing and will re-file upon completion of its third quarter financial statements. Additionally, the Company wishes to announce that it has granted an aggregate of 900,000 incentive stock options to certain directors and/or officers. Of the 900,000 options, 550,000 expired and are being re-granted at the previous exercise price of $1.05 per share for a period of 5 years expiring October 19, 2010 and 350,000 are new grants exercisable at a price of $0.65 per share also expiring October 19, 2010. About China Education Resources China Education Resources Inc. is a Canadian-based company focused on leading China's education reform program. As a leading distributor of hardcopy text books and other related educational materials, the Company is developing an internet-based educational resource portal to facilitate China's new education initiatives. This press release contains certain 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. that reflect the current views and/or expectations of China Education Resources Inc. with respect to its future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly. 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. has not reviewed, and does not accept, re sponsibility for the adequacy or accuracy of the contents of this pres s release. China Education Resources Inc. (TSX VENTURE:CHN) |
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