Crawford Lake Mining Acquires Chinese Voice over Internet Protocol Company.HENDERSON, Nev. -- Crawford Lake Mining (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CWFM CWFM Continuous Wave Frequency Modulation ) today announced it has purchased 100% ownership of Jinan Yinquan Technology Co. Ltd, ('Jinan"), a telecommunications technology company located in the Shandong Province of the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China, in exchange for 40,000,000 restricted shares of Crawford Lake common stock. "This acquisition and expansion into the technology industry signifies our first effort in developing an international, high-tech business strategy for our Company," said Li Kunwu, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Crawford Lake. "Jinan Yinquan is a very aggressive company that now offers Voice over the Internet Protocol See Internet and TCP/IP. (networking) Internet Protocol - (IP) The network layer for the TCP/IP protocol suite widely used on Ethernet networks, defined in STD 5, RFC 791. IP is a connectionless, best-effort packet switching protocol. ("VoIP") services to 17 cities in the Shandong Province. The current population in China is estimated at 1.3 billion people. The market potential for their state of the art NP Soft Switch System made this acquisition a very promising venture for us and our shareholders." Jinan is a company registered in the People's Republic of China. Since its inception in 2001, the Company has been developing state of the art telecommunications technology to take full advantage of the strength of the Chinese economy. As the Chinese economy continues its strong and remarkable growth, the need for access to low-cost, reliable telecommunication systems is increasing dramatically. With its proprietary NP Soft Switch System, Jinan is already well positioned to take full advantage of this tremendous opportunity. The NP Soft Switch System allows customers to convert their cable/dsl router See broadband router. into a VoIP device allowing customers to use the system to make telephone calls to anyone in the world at a much lower cost than standard telephone rates. This product is already being marketed in the Shandong Province with customers in 17 cities already. Plans are ongoing to develop other markets in China. Jinan is also developing other telecommunications technology, some of which is already in the testing phase, that it intends to roll-out in the coming months. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the terms of the deal, Jinan will become a wholly-owned subsidiary of Crawford Lake Mining. The Company (Crawford Lake) will also be changing its name to China VoIP & Digital Telecom Inc. to better reflect its new business strategy. About Crawford Lake Mining Prior to the Jinan acquisition Crawford Lake Mining was an exploration stage company. It currently owns a 100% beneficial interest in one mineral claim known as the Little Bonanza claim. The Company intends to divest To deprive or take away. Divest is usually used in reference to the relinquishment of authority, power, property, or title. If, for example, an individual is disinherited, he or she is divested of the right to inherit money. itself of this claim and seek out other acquisitions in the VoIP space or related technology companies that fit the profile of its short- and long-term business plan and that can be accretive to earnings. Notice Regarding Forward Looking Statements This press release contains "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. " within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Statements regarding the Company's business which are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from the potential results discussed in the forward-looking statements. Readers are directed to the Crawford Lake Mining Inc. reports as filed with the U.S. Securities and Exchange Commission from time to time, including but not limited to its most recent annual report on Form 10-KSB for the year ended April 30, 2006 and quarterly report on Form 10-QSB the quarter ended July 31, 2006 for further information and factors that may affect Crawford Lake Mining Inc.'s business and results of operations. Crawford Lake Mining Inc. undertakes no obligations to publicly update any forward-looking statements to reflect future events or circumstances. |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion