Grand Power Logistics Group Inc.
TSX VENTURE : GPW

Grand Power Logistics Group Inc.

February 04, 2016 09:00 ET

Grand Power Logistics Group Inc. Announces Plans to Repurchase Common Shares

HONG KONG, CHINA and CALGARY, ALBERTA--(Marketwired - Feb. 4, 2016) - Grand Power Logistics Group Inc. - GPW (the "Corporation" or "Grand Power") (TSX VENTURE:GPW) announces that it has filed with the TSX Venture Exchange a Notice of Intention to Make a Normal Course Issuer Bid which shall commence on February 9, 2016 and terminate on February 8, 2017 or the earlier of the date all shares which are subject to the Normal Course Issuer Bid are purchased.

In the opinion of the Board of Directors of Grand Power, the market price of the Common Shares of Grand Power does not accurately reflect the value of those shares. As a result, the Corporation intends to repurchase Grand Power's Common Shares that may become available for purchase at prices, which make the purchases an appropriate use of funds of the Corporation.

Grand Power intends to attempt to acquire up to an aggregate of 4,218,000 of its Common Shares over the next 12-month period, representing approximately 4.99% of the issued and outstanding Common Shares of Grand Power.

Purchases subject to the Normal Course Issuer Bid will be carried out pursuant to open market transactions through the facilities of the TSX Venture Exchange. The Member through which the Normal Course Issuer Bid will be conducted is Wolverton Securities, Calgary, Alberta. All Common Shares purchased by Grand Power under the Normal Course Issuer Bid will be cancelled.

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, Xiamen and Fuzhou. For more information, please visit www.grandpowerlogistics.com.

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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