Grand Power Logistics Group Inc.
TSX VENTURE : GPW

Grand Power Logistics Group Inc.

May 28, 2015 13:17 ET

Grand Power Announces Closing of Private Placement

HONG KONG, CHINA and CALGARY, ALBERTA--(Marketwired - May 28, 2015) - Grand Power Logistics Group Inc. (the "Corporation") (TSX VENTURE:GPW) announces that it has completed a non-brokered private placement of 8,000,000 units ("Units") at a price of $0.05 per Unit for gross proceeds of $400,000. Each Unit is comprised of one common share ("Common Share") and one common share purchase warrant ("Warrant"), with each Warrant entitling the holder to acquire, for a period of one year from the date of issue, one common share ("Warrant Share") at an exercise price of $0.12 per common share. The Units sold under the Offering, including the Common Shares, Warrants and Warrant Shares, will be subject to a statutory four month hold period, which expires September 27, 2015.

The proceeds of the private placement will be used by the Corporation for general working capital.

About Grand Power Logistics Group Inc.

Grand Power 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), one of China's largest economic regions. GP Express' Subsidiaries or Branch Offices in this region are located in Macau, Shenzhen and Guangzhou. GP Express also operates in other regions through Subsidiaries and Branch Offices or Supporting Offices in Shanghai, Beijing, Tianjin and Xiamen. For more information, please visit http://www.grandpowerlogistics.com.

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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