Capital Resource Funding Announces Completion of Share Exchange With Da Lian Xin Yang High-Tech Development
06 Marzo 2007 - 1:37PM
PR Newswire (US)
LIAONING PROVINCE, China, March 6 /PRNewswire-FirstCall/ -- Capital
Resource Funding, Inc. (OTC:CRFU) (BULLETIN BOARD: CRFU) ,
announced today that on February 28, 2007, Capital Resource
completed a share exchange pursuant to a Plan of Exchange, dated
September 6, 2006 with Da Lian Xin Yang High-Tech Development Co.
Ltd., a corporation organized and existing under the laws of the
Peoples' Republic of China ("DLX"), DLX's shareholders, and David
Koran, the former controlling shareholder and former Chief
Executive Officer. Under the Agreement, Mr. Wang Bin, our new
President and Chief Executive Officer, received 9,500,000 shares of
Capital Resource common stock from Mr. Koran for $600,000 in cash
and DLX shareholders received 30,000,000 shares of Capital
Resources' newly issued common stock in exchange for a 70%
ownership interest in DLX. As a result, we underwent a change in
control, whereby the DLX shareholders now own an aggregate of
39,500,000 shares, representing 93% of our common stock issued and
outstanding. Detailed information on the share exchange can be
found in Form 8-K filed at http://www.sec.gov/. About Capital
Resource Funding, Inc. Capital Resource Funding, Inc. produces
anode materials used in lithium ion batteries. Lithium ion
batteries continue to gain in popularity due to their versatility,
high energy density and capacity, high voltage, compact size, light
weight, and excellent energy retention characteristics. They are
used in mobile phones, PDAs, laptops, and digital cameras, as well
as electric automobiles and solar and wind energy storage units.
Capital Resources conducts its operations through Da Lian Xin Yang
High-Tech Development Co. Ltd. ("DLX"), a wholly owned subsidiary
located in China. DLX primarily produces cobaltosic oxide and
lithium cobalt oxide and also engages in the research and
development of new technologies to be used in the lithium ion
battery market. According to the China Battery Industry
Association, DLX has the second largest cobalt series production
capacity in China. STATEMENTS IN THIS PRESS RELEASE WHICH ARE NOT
HISTORICAL DATA ARE FORWARD-LOOKING STATEMENTS WHICH INVOLVE KNOWN
AND UNKNOWN RISKS, UNCERTAINTIES OR OTHER FACTORS NOT UNDER THE
COMPANY'S CONTROL, WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR
ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE
RESULTS, PERFORMANCE OR OTHER EXPECTATIONS IMPLIED BY THESE
FORWARD-LOOKING STATEMENTS. THESE FACTORS INCLUDE, BUT ARE NOT
LIMITED TO, THOSE DETAILED IN THE COMPANY'S PERIODIC FILINGS WITH
THE SECURITIES AND EXCHANGE COMMISSION. DATASOURCE: Capital
Resource Funding, Inc. CONTACT: Thomas Yang, Assistant to the
Chairman, Capital Resource Funding, Inc., +86-411-8289-7752,
+1-718-359-0546, Fax: +86-411-8289-2736, ,
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