SOURCE: Vortex Resources Corporation

Vortex Resources Corporation

June 17, 2009 09:00 ET

Vortex Resources Submits Offers to Lease Facilities in Southern California

Building to Be Used as Logistics Center

BEVERLY HILLS, CA--(Marketwire - June 17, 2009) - Vortex Resources Corp. (OTCBB: VXRC) (Equity, ISIN US92905M2035, WKN A0RLEK, HTE2), which is in the process of changing its name to Yasheng Eco-Trade Corporation, has identified four locations and submitted offers to lease with an option to buy the buildings. After three months of evaluating the numerous possible locations for the cooperative zone, the company has focused on these four buildings because of their ability to address the needs of the company.

Management believes each of these developments will allow the company to accelerate the time frame for becoming operational. Management believes once the building is secured, that the logistics center will be operational within approximately 90 days. After visiting the sites, the Company's Chairman Dr. Rubin commented, "Today marks a giant leap for the company in realizing its dream of opening a cooperative zone and logistics center in Southern California. We are honored to be a part expanding trade relations while potentially creating jobs for Americans."

Based on current market conditions and Federal and Local incentives available to the company, Vortex has decided to move forward with leasing an existing building rather than building a new complex. Based on construction bids received from a general contractor, the cost of building the project would be in excess $70 million. In today's market, a similar building can be purchased for $30 to $40 million. The company's strategy is to lock in today's prices with a lease with an option to buy. This allows the company to operate at a lower cost via low lease payments and still take advantage of reduced prices for the purchase. Chairman Rubin states further that "when we plug in the new cost structure to our business plan for the logistics center the feasibility is tremendously improved!"

Vortex Resources Corp. (OTCBB: VXRC) (Equity, ISIN US92905M2035, WKN A0RLEK, HTE2) is a publicly traded independent emerging resources company.

The Company's business has been the identification and acquisition of undervalued assets within emerging industries for the purpose of consolidation and development of these businesses and sale if favorable market conditions exist. The Company's objective is to find, acquire and develop resources at the lowest cost possible and recycle its cash flows into new projects yielding the highest returns with controlled risk. The Company's competencies include financial services, mergers and acquisitions, accounting, real estate development, and natural resources exploration. The Company is currently in the process of developing a logistics center. As part of its strategy to develop a logistics center, the Company has entered a term sheet with Yasheng Group in which Yasheng Group, among other things, has agreed to contribute real property for the development of a logistics center. Further, the Company and Yasheng Group have jointly entered into a cooperation agreement with Legend Transportation based in Texas. As a result of the above, the Company is in the process of changing its name to Yasheng Eco-Trade Corporation.

Forward-Looking Statements:

Certain statements contained in this press release are forward-looking statements that involve risks and uncertainties. The statements contained herein that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended.

Contact Information

  • Contact:
    Vortex Resources Corp.
    Investor Relations
    310-461-3559