Grand Power Logistics Group Inc.

Grand Power Logistics Group Inc.

August 12, 2005 09:00 ET

Grand Power Logistics Announces Closing of Private Placement

HONG KONG AND CALGARY, ALBERTA--(CCNMatthews - Aug. 12, 2005) - Grand Power Logistics Group Inc. (TSX VENTURE:GPW) ("Grand Power" or the "Corporation") today announced, further to its news release on April 21, 2005, that it has closed its non-brokered private placement in which it has raised net proceeds of $990,000 by issuing 2.2 million common shares at a price of $0.45 per common share. The net proceeds from the private placement will be used to increase working capital needed to support anticipated growth of the Corporation's business and revenue. Insiders of the Corporation have purchased approximately 83% of the placement. There was no finders' fee paid on this private placement. The shares issued under this private placement are subject to a 4 month hold period.

About Grand Power Logistics Group Inc.

Grand Power's wholly owned subsidiary, Grand Power Express, commenced business in Hong Kong in March 2002 as an airfreight forwarding service. Although Grand Power Express is principally an airfreight provider, it also provides sea freight services, customs brokerage, logistics, warehousing and distribution, as well as other value added services for clients. The Grand Power group is uniquely positioned in Asia, with its headquarters in Hong Kong and related offices in Macau, Shanghai, Guangzhou, Taipei and Bangkok. The Company has obtained key agent status with eight (8) airlines such as Cathay Pacific and Thai Airways. Grand Power began trading on the TSX Venture Exchange in November 2004.

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

Contact Information