Grand Power Logistics Group Inc.
TSX VENTURE : GPW

Grand Power Logistics Group Inc.

January 16, 2007 16:19 ET

Grand Power Closes Private Placement

CALGARY, ALBERTA AND HONG KONG, CHINA--(CCNMatthews - Jan. 16, 2007) - Grand Power Logistics Group Inc. (TSX VENTURE:GPW) ("Grand Power") is pleased to announce that its previously announced non-brokered private placement has officially closed. Pursuant to the private placement, Grand Power has issued 1,599,000 Common Shares at a price of $0.55 per share, for gross proceeds of $879,450. A finders' fee in the aggregate amount of $87,945 has been paid on the private placement pursuant to a transaction, whereby Tong (Ricky) Chiu, the President, Chief Executive Officer and a director of Grand Power, sold 1,599,000 Common Shares of Grand Power at a price of $0.55 per share and used the proceeds of such sale to purchase the 1,599,000 Common Shares under the private placement. The 1,599,000 Common Shares issued to Tong (Ricky) Chiu are subject to a four month hold period expiring April 29, 2007.

About Grand Power Logistics Group Inc.

Grand Power Logistics Group Inc. operates principally through its wholly owned subsidiary, Grand Power Express International Limited (GP Express) and GP Express' wholly-owned subsidiaries in Macau and China. GP Express commenced business in Hong Kong in March 2002 primarily as an airfreight forwarding service, but also provides sea freight services, customs brokerage, logistics, warehousing and distribution, as well as other value added services for clients. In May 2006, the company commenced business operations in China through a subsidiary office in Shanghai. The Grand Power Group is uniquely positioned in Asia, with its operating headquarters in Hong Kong and subsidiaries or supporting offices in Macau, Shanghai, Guangzhou, Taipei and Bangkok.

Forward-looking statements: Statements included in this press release that are not historical facts may be considered "forward looking statements". All estimates and statements that describe the Company's objectives, goals or future plans are forward looking statements. Forward-looking statements involve inherent risks and uncertainties where actual results could differ materially from those currently anticipated.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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