SOURCE: HQ Global Education Inc.

March 22, 2010 08:00 ET

HQ Global Education Inc. (Formerly Green Star Mining Corp.) Begins Trading Today With New Stock Symbol: HQGE

Company Also Officially Changes Fiscal Year End

NINGXIANG COUNTY, CHINA--(Marketwire - March 22, 2010) - Following a name change from Green Star Mining Corp. (OTCBB: GSTR), HQ Global Education Inc. announced that its shares will begin trading today on the OTC Bulletin Board with a new stock symbol: (OTCBB: HQGE). 

HQ Global Education controls and operates eight vocational schools in China under the widely known "HQ" brand and is one of China's leading providers of customized or "order-oriented" vocational education. In cooperation with 120 participating employers, HQ schools provide the skilled workers required by these enterprises, which results in a 100% employment rate for all graduates of its programs.

Mr. Guangwen He, Chairman and CEO of the Company, and founder of the vocational school in 1994, commented, "Following our successful reverse merger, we are pleased to have taken this next step in expanding investor awareness of our Company and the outstanding growth opportunity that lies before us. As China continues to grow, we are a proven leader in helping to meet the severe shortages of skilled blue collar workers developing in a variety of industries. We will continue to expand the number of industries and students we serve with our innovative 'order oriented' educational programs."

The Company also announced that it is officially changing its fiscal year end from February 28 to August 31 to be synchronized with its management processes and education cycles.

HQ Global Education Inc. ("HQ")

As of the first semester of 2010, a faculty and support staff of nearly 2800 served a total of approximately 32,238 HQ students from 21 provinces throughout China. They are taught a wide range of vocational skills in approximately 60 programs in 17 technical career categories at eight vocational schools in the Sichuan and Hunan Provinces. In cooperation with more than 120 participating employers, HQ has become increasingly synonymous throughout China with superior training to meet employer needs and for producing outstanding technical specialists with immediate jobs and fulfilling career opportunities. In the twelve months ended August 31, 2009, the Company's revenues were $36.1 million (+25.4%, compared with the prior year) and net income was $10.67 million (+36.8%) as reported in pro-forma statements filed with the U.S. Securities and Exchange Commission following completion of the reverse merger in February this year. EPS, based on net income of $10.67 million and 33 million shares outstanding, was $0.32. 

Information Regarding Forward-Looking Statements

Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the U.S. Securities and Exchange Commission.

Contact Information

  • Contacts:

    Mr. Guangwen He
    Chairman and Chief Executive Officer
    HQ Global Education Inc.
    Tel: (86 731) 87828601
    Fax: (86 731) 87828601

    In the U.S.

    Ken Donenfeld
    DGI Investor Relations
    donfgroup@aol.com
    kdonenfeld@dgiir.com
    Tel: 212-425-5700
    Fax: 646-381-9727