TORONTO, March 11 /CNW/ - Boyuan Construction Group, Inc. (TSX-V: BOY), a leading builder of commercial, residential and municipal infrastructure projects in China's fast-growing regions of the Yangtze River Delta and the city of Sanya on Hainan Island, announced today that it will begin trading on the TSX Venture Exchange effective at the opening March 11, 2009. The Company will trade under the ticker symbol BOY for its common shares.
"Since we began operations in 2004, we have consistently improved our annual revenue, EBITDA and net income results through our proven ability to deliver quality building projects on time and budget," said Shou Cailiang, Chairman, Boyuan Construction Group, Inc. "We now look forward to the next stage of our evolution as a public company. As evidenced by the unique make-good provisions of our recent private placement, we believe that Boyuan is solidly poised to capitalize on major opportunities in China's residential, commercial and government construction markets, which will further fuel our growth and success."
In its private placement closed on February 27, 2009, Boyuan sold units to accredited and institutional investors. Two of the three securities placed will begin trading on the TSX Venture Exchange, as Boyuan's common shares and convertible debentures make their debut. Warrants convertible into common shares were also issued by the Company.
About Boyuan Construction Group, Inc.
Based in Jiaxing City, China, Boyuan Construction Group, Inc. is in the business of residential and commercial building construction, municipal infrastructure and engineering projects. In its last three fiscal years ending June 30, 2008, Boyuan completed more than 120 projects for a number of private and public sector clients including Cargill and the Dalian Shide Group, a billion dollar conglomerate whose partners include DuPont, Mitsubishi and GE. Boyuan's current backlog includes residential, industrial and mixed-use developments, including a five-star hotel and a project at the Qingshan Nuclear Plant, China's first and largest nuclear facility. From its operating bases in Zhejiang Province and on Hainan Island, Boyuan focuses on construction projects in China's fast-growing regions of the Yangtze River Delta and the city of Sanya.
Caution concerning forward-looking statements ---------------------------------------------
This press release contains forward-looking statements. Such statements inherently involve numerous risks and uncertainties. Actual future results may differ from the anticipated results expressed in the forward-looking statements contained in this press release and Boyuan does not undertake to update this information. Investors are cautioned against placing undue importance on forward-looking information contained herein and should consult the Company's reports and other public filings which contain a more exhaustive analysis of risks and uncertainties connected to Boyuan's business.
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.
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