Xianburg Data Systems Canada Corporation

January 21, 2011 12:48 ET

Xianburg Data Systems Announces the Addition of Mr. Song Qiao to the Board

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2011) - Xianburg Data Systems Canada Corporation (the "Company") (TSX VENTURE:XDS) is pleased to announce the addition of Mr. Song Qiao to the Board of Directors. Mr. Qiao has worked with numerous large Chinese companies conducting business in the global market in areas of corporate strategic development planning, as a corporate spokesperson in both international and domestic industry events, and as a corporate government relationship development lead. Mr. Song Qiao's numerous industry contacts and years spent working in the logistics sector of many large national and international firms will be an asset to the Company in expanding into both the national and international markets.

The Company is also pleased to announce that on January 14, 2011, Mr. Dong, the Company's President and CEO, rang the opening bell at the TMX markets in celebration of the Company achieving its listing on the TSX Venture Exchange. The ceremony took place at the TMX Broadcast Centre in Toronto and Mr. Dong stated that he was "excited about the Company's listing on the exchange and about the future growth of the Company".

Further to the Company's press release dated November 26, 2010, in consideration of the services provided by Canaccord Genuity Corp. (the "Agent") with respect to the Company's brokered private placement that closed on November 22, 2010, the Company has paid the Agent an additional cash commission of $6,329.97 and has issued to the Agent an additional 21,100 Agent's warrants. Each warrant entitles the holder to acquire one common share of the Company at a price of $0.30 until November 22, 2012. The warrants are subject to a four month hold period.

About Xianburg Data Systems Canada Corporation

Xianburg Data Systems Canada Corporation (TSX VENTURE:XDS) is an IT products and services firm with offices in Xian and Beijing. The Company is recognized as a leader in China in providing mass data storage and disaster recovery IT solutions. Xianburg International Data Co. ("XID") was founded in 1994 by Jing Ping Dong, based on his experience in leading large‐scale data archiving projects. XID is recognized as a leading IT provider to the Chinese government and to corporate clients, and has received ISO 9001 certification for its Quality Management practices. XID has more than 120 staff with affiliates in China, Germany, and Canada. Staff includes a high proportion of IT specialists with advanced degrees.

The Company, through its wholly-owned subsidiary XDS Xianburg Data Systems (Canada) Inc., governs and administers the operating entity XID, a Chinese based operating company, and will earn substantially all of its income from XID. XID's core business is data entry with a specialty of converting paper documents to electronic format ("digitization") and it also manufactures high-performance, high-capacity storage systems for the archiving and publication of such documents.

This press release includes certain "forward-looking statements" within the meaning of the Canadian securities laws. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual events and results to differ materially from the Company's expectations include risks related to the development stage of the Company; market fluctuations in prices for securities of similar companies; and uncertainties about the availability of additional financing. Trading in the securities of the Company should be considered highly speculative.

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.

Contact Information

  • Xianburg Data Systems Canada Corporation
    Farhan Rhemtulla
    Director of Investor Relations