Grand Power Logistics Group Inc.

Grand Power Logistics Group Inc.

March 31, 2010 09:47 ET

Grand Power Logistics Completes Private Placement

- Raises gross proceeds of CDN $2 million -

CALGARY, ALBERTA and HONG KONG, CHINA--(Marketwire - March 31, 2010) - Grand Power Logistics Group Inc. (TSX VENTURE:GPW), a leading China-based international logistics provider, today announced that it has completed a private placement of 6,666,833 units priced at $0.30 per Unit, for gross proceeds to Grand Power of CDN $2 million.

Each Unit is comprised of one common share of the Company (each a "Common Share") and one-half of one common share purchase warrant (each whole Common Share purchase warrant, a "Warrant") of the Company. Each Warrant entitles the holder thereof to subscribe for one additional common share of the Company (each a "Warrant Share") at an exercise price of $0.42 per Warrant Share at any time prior to the day that is 24 months from the closing date. The Units sold under the Offering, including the Common Shares and Warrant Shares, will be subject to a statutory four month hold period.

Mr. Ricky Chiu, a director and President and CEO of Grand Power Logistics, participated in the private placement, purchasing 1,010,000 units for a total investment of $303,000.

The net proceeds of the Offering will be used by the Company to expand the direct sales activities of its air freight and the ocean freight businesses as well as for general corporate and working capital purposes. 

Canaccord Financial Ltd acted as the exclusive agent for the private placement.

As a result of the private placement, Grand Power's total number of shares outstanding is 52,794,611.

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

Forward-looking Information

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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