BEIJING, Nov. 14 /Xinhua-PRNewswire/ -- The Bralorne Mining Company
(OTC Bulletin Board: BLNM) a publicly traded pre-exploration stage company,
has acquired all of the outstanding capital stock of Gold Profit (Asia) Group
Limited (“Gold Profit”). Gold Profit is a holding company that owns 100%
of the registered capital of Beijing Quan Tong Chang Information Services
Limited (“Beijing QTC”), a corporation organized under the laws of the
People’s Republic of China. Beijing QTC is engaged in the business of
distributing telephone services through public pay phones and is also in the
business of developing Internet phone solutions for commercial customers.
All of Beijing QTC’s business is currently in China. In 2007, however,
Beijing QTC will add international call forwarding to its lines of business,
in order to take advantage of the recent dramatic increase in business and
tourist travel by residents of China.
Beijing QTC now operates the largest network of public payphone in
Beijing. With 469 outlets located in universities, shopping malls and street
corners, Beijing QTC distributes fixed line call times under distribution
agreements with China Netcom (Beijing) Corporation Limited and China Netcom
(Guangdong and Zhejiang) Corporation Limited. In 2004, Beijing QTC
controlled 34% of the public payphone market in Beijing.
Beijing QTC’s agreements with China Netcom (Beijing) and China Netcom
(Guangdong and Zhejiang) also provided Beijing QTC the authority to
distribute the Voice over Internet Protocol (VoIP) services offered by those
carriers. Under those arrangements, Beijing QTC designs and installs VoIP
system for business enterprises, primarily commercial buildings in Beijing.
At present, Beijing QTC has prepared itself to launch the service of
International Call Forwarding, which will replace the function of the
international roaming services provided by most mobile carriers. To utilize
the international call forwarding service, a subscriber will obtain use of a
phone number in the country he or she is visiting. He will then use the call
forwarding service provided by his mobile carrier to forward his inbound
calls to a Beijing QTC phone number. Beijing QTC will then rout the calls to
the subscriber’s phone number in the destination country.
The market for the International Call Forwarding services will be those
Chinese residents who travel abroad for business or personal reason. Over
the past six years, this market has grown by 22% annually, increasing from 9
million travelers in 1999 to over 31 million travelers in 2005. Since China
now has the most largest mobile phone subscriber base in the world -- 426
million subscribers at the end of June 2006, most of those travelers will be
potential subscribers to the international call forwarding service business.
About Bralorne Mining Company
Bralorne Mining Company was organized for the purpose of acquiring and
exploring mineral properties. During February 1999, the Company acquired a
mineral claim for $1.00 from a related party, known as “Golden” consisting
of one 18 units metric claim situated within the Bridge River gold camp near
the town of Gold Bridge, British Columbia and has an expiration date of
December 15, 2006. During March 2003, the Company started an exploration
program on 9 of the 18 units within the claim. The other 9 units lapsed on
March 18, 2003 and the Company has no further interest in them. The
remaining 9 are in good standing until December 15, 2006. On November 2,
2006, The Company acquired all of the outstanding capital stock of Gold
Profit (Asia) Group Limited (“Gold Profit”), which owns 100% of the
registered capital of Beijing Quan Tong Chang Information Service Limited
(“Beijing QTC”). Beijing QTC is engaged in the business of distributing
telephone services through public pay phones and is also in the business of
developing Internet phone solutions for commercial customers. Beijing QTC
will add international call forwarding to its lines of business in the year
2007.
Forward-looking statements
This report contains "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. All statements other than
statements of historical facts included in this report are forward-looking
statements. Forward-looking statements involve risks and uncertainties
including, but not limited to, economic and political factors; developments
of the Chinese and North American markets and changes in regulatory matters;
our business strategies and future plans of operations; the market acceptance
and amount of sales of our products and services; our historical losses; the
competitive environment within the industries in which we compete; and our
ability to raise additional capital, currently needed for expansion.
The Company cautions that forward-looking statements are subject to
certain risks and uncertainties that could cause actual results to differ
materially from those indicated in the forward-looking statements due to
several important factors.
