China Select Capital Partners Corp.
TSX VENTURE : CH

China Select Capital Partners Corp.

May 21, 2010 08:30 ET

China Select Closes $500,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 21, 2010) - China Select Capital Partners Corp. (TSX VENTURE:CH) ("China Select"), a Canada-based investment issuer and asset management firm focused on managing and facilitating foreign investment in the private equity RMB fund industry in China, today announced that it has closed a private placement round totalling 2,500,000 units at $0.20 per unit for $500,000 on identical terms to its last round of financing which was completed in connection with the closing of the qualifying transaction. Each unit consists of one previously unissued common share and one-half of one share purchase warrant ("Warrant"). Each whole Warrant will entitle the holder, on exercise, to acquire one additional common share at a price of $0.40 per common share at any time until May 20, 2011 and thereafter at a price of $0.60 per common share until May 20, 2012. The expiration date of the Warrants is subject to acceleration in the event that the 30 day volume-weighted trading price of the company shares exceeds $0.70 in the first year after closing and $0.84 in the second year after closing.

The proceeds will be used primarily towards licensing fees related to the company's application and license to manage RMB-denominated private equity funds in China. On May 17, 2010, the company announced that it had received a business certificate from the municipal government of Suzhou Industrial Park as an onshore fund management company.

China Select management and insiders' direct investment in this financing accounted for approximately $40,000 of the $500,000 total private placement gross proceeds on terms identical to the investors.

On behalf of the board of CHINA SELECT CAPITAL PARTNERS CORP.

Min Kuang, President, Chief Operating Officer and Director

About China Select Capital Partners Corp.

China Select Capital Partners is a Canada-based investment issuer and asset management firm focused on facilitating foreign investment in the private equity RMB fund industry. China Select invests in leading private and public companies whose businesses involve later-stage renewable energy, environmental technology or other selected sectors and identifies an exit strategy either in China or North America. China Select's management team is composed of talented and experienced investment professionals combining an Asian background with Western education and extensive experience in investment banking, venture capital and venture fund management in Canada, China and the U.S.

Neither the 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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