Grand Power Logistics Group Inc.
TSX VENTURE : GPW

Grand Power Logistics Group Inc.

January 04, 2007 16:30 ET

Grand Power Closes Private Placement

CALGARY, ALBERTA and HONG KONG, CHINA--(CCNMatthews - Jan. 4, 2007) - Grand Power Logistics Group Inc. ("Grand Power") (TSX VENTURE:GPW) is pleased to announce that, further to its press release dated November 24, 2006, it has completed a first closing of its non-brokered private placement in which it has raised $879,450.00 by issuing 1,599,000 Common Shares at a price of $0.55 per share. A finders' fee in the amount of $87,945 has been paid on the private placement. The proceeds from the private placement will be used for working capital and expanding the Corporation's business activities in Hong Kong, Macau and China.

Tong (Ricky) Chiu, the President, Chief Executive Officer and a director of the Corporation, has sold 1,599,000 Common Shares of the Corporation at a price of $0.55 per share and has used the proceeds of such sale to purchase 1,599,000 Common Shares of the Corporation under the private placement.

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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