Grand Power Logistics Group Inc.

Grand Power Logistics Group Inc.

February 11, 2010 11:36 ET

Grand Power Creates Project Team to Oversee Development of Yangshan International Container Transit Logistics Park

CALGARY, ALBERTA and HONG KONG, CHINA--(Marketwire - Feb. 11, 2010) - Grand Power Logistics Group Inc. (TSX VENTURE:GPW), a leading China-based international logistics provider, today announced that its subsidiary Grand Power Logistics Development Ltd (GPLD) has formed a special Project Team that will oversee the development of Yangshan International Container Transit Logistics Park.

The Yangshan Project Team, which is comprised of individuals with extensive logistics, real estate development, government relations and capital markets experience, will be responsible for providing counsel and direction to ensure that each phase of the Park's development, including financing, land acquisition, and construction, is completed to plan.

"Creating the Yangshan Project Team is an important milestone towards the long-term goal of developing the Logistics Park," said Ricky Chiu, President and CEO, Grand Power Logistics Inc. "Each member was selected based on the caliber of their credentials, networks of industry contacts and strong commitment towards developing China's logistics infrastructure. I look forward to the many contributions that team members, each respected leaders in their fields, will bring."

The Yangshan Project Team includes:

  • Mr. Jian Xin Huo, Managing Director of Grand Power Logistics Development Co. (GLPD). Mr. Huo has spent his career developing major projects with the Chinese government in the shipping and logistic industry. Mr. Huo is responsible for government relations and project management activities of GLPD.
  • Mr. Jones Chu, Equity Derivatives Director with a leading Hong Kong-based securities firm and a Director and shareholder of GLPD. Mr. Chu has more than 15 years of capital markets experience. Mr. Chu is responsible debt and equity raises of GLPD.
  • Mr. Lewis Poon, Co-founder of a leading Hong Kong-based venture capital firm. Over the past 15 years, Mr. Poon has taken more than 100 China-based companies public in Hong Kong, Singapore and the U.S, and led IPO financings valued at more than US $30 billion. Mr. Poon is responsible for GLPD's financial structure and strategies.
  • Mr. Mike Lam, a leading real estate developer in China and Macau. Mr. Lam has been involved in more than 80 projects with a total investment value of more than RMB 15 billion. Mr. Lam also has more than 10 years of logistics industry experience. Mr. Lam is responsible for GLPD's negotiation of land purchases and construction of the Logistics Park.

As announced previously on January 14, 2010, Grand Power's subsidiary, Grand Power Logistics Development Co. ("GPLD"), has signed a memorandum of understanding with the Shengsi County People's Government to develop the Yangshan International Container Logistics Park. Grand Power intends to fund the development by raising debt and equity at the GPLD subsidiary level, with none of the financing or dilution expected at the public company level.

About Grand Power Logistics Group Inc.

Grand Power Logistics Group Inc. operates principally through its wholly owned Hong Kong based subsidiary, Grand Power Express International Limited (GP Express) and provides air-freight forwarding and sea-freight services, customs brokerage, logistics, warehousing and distribution, as well as other value added services. GP Express has established operations in various regions, particularly in the Greater Pearl River Delta (GPRD), China's largest economic region. GP Express' Subsidiaries or Branch Offices in this region are located in Macau, Shenzhen, Guangzhou and Jiangmen. GP Express also operates in other regions through Subsidiaries and Branch Offices or Supporting Offices in Shanghai, Taipei, Bangkok and Los Angeles. For more information visit

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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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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