Suspension of Trading

About this update from China Changjiang Mining & New Energy Co., Ltd.

[{"type":"text","content":"UNITED STATES OF AMERICA Before the SECURITIES AND EXCHANGE COMMISSION SECURITIES EXCHANGE ACT OF 1934 Release No. 64164 / April 1, 2011 The Securities and Exchange Commission announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”), of trading in the securities of China Changjiang Mining & New Energy Co., Ltd. (“CHJI”), a Nevada corporation  previously known as North American Gaming and Entertainment Corporation with headquarters and operations in the People’s Republic of China, at 9:30 a.m. EDT on April 1, 2011, and terminating at 11:59 p.m. EDT on April 14, 2011. Questions have arisen regarding the accuracy and completeness of information contained in CHJI’s public filings with the Commission concerning, among other things, the company’s financial statements for 2009 and 2010.  CHJI has failed to disclose that (a) the company filed its last periodic report on Form 10-Q for the quarter ended September 30, 2010 without the required review of the interim financial statements by an independent public accountant; and (b) the company’s independent auditor has resigned, withdrawn its audit opinion issued April 16, 2010 relating to the audit of the company’s consolidated financial statements as of December 31, 2009, and informed the company that the financial statements for the quarters ended March 31, June 30, and September 30, 2010 could no longer be relied upon. The Commission cautions brokers, dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company.  Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule.  If any broker or dealer has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff in the Division of Trading and...

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