LAS VEGAS, Oct. 29 /Xinhua-PRNewswire-FirstCall/ -- China Holdings, Inc. (OTC Bulletin Board: CHHL), a global diversified assets holdings company, and its subsidiaries engaged in multiple China-focused business activities including energy, renewable energy, resources, finance, real estate, utilities and pharmaceuticals, announced today the Company has executed an acquisition agreement for acquiring 100% of Tong Ren Kai Yu Minerals Co. Ltd. with three mineral properties/mines and two mining licenses for producing rare metals (Vanadium (V2O5), Molybdenum (Mo), Uranium (U)) and with three exploration licenses approved by the Land & Resource Minister of the People’s Republic of China.
The Company has agreed to pay RMB300 million (approximately US$40 million) for the 100% of Tong Ren Kai Yu Minerals Co. Ltd. with three mineral properties/mines and two mining licenses for producing rare metals (Vanadium (V2O5), Molybdenum (Mo), Uranium (U), etc.) and with three exploration licenses, and with in situ value of approximately RMB65 billion (approximately US$8.67 billion). The RMB300 million payments to Tong Ren Kai Yu Minerals Co., Ltd./Shareholders is scheduled for: 1). RMB200 million in common shares of China Holdings, Inc. (NASD OTCBB: CHHL) of which RMB50 million (approximately US$6.67 million) will be valued at US$0.05 per share, and RMB150 million (approximately US$20 million) at the average closing price for the common shares of China Holdings, Inc. (NASD OTCBB: CHHL): 5 days before the closing & 5 days after the closing day; 2). The balance of RMB100 million (approximately US$13.33 million) will be paid in cash at the closing. The company also has agreed to pay Tong Ren Kai Yu Minerals Co. Ltd./Shareholders an additional seven million common shares of China Holdings, Inc. ( NASD OTCBB: CHHL) as a security deposit to be executed immediately.
Tong Ren Kai Yu Minerals Co. Ltd./100% Shareholders have agreed that China Holdings, Inc. (NASD OTCBB: CHHL) has the exclusive first refusal rights to the acquisition of 100% of Tong Ren Kai Yu Minerals Co., Ltd. with all the mineral properties & mining licenses. Tong Ren Kai Yu Minerals Co., Ltd./ 100% Shareholders have also confirmed there is no debt or liabilities at all in Tong Ren Kai Yu Minerals Co., Ltd. and all its mineral properties and mining licenses.
The acquisition will be completed upon satisfaction of full due diligence legally, audited financial statements (US GAAP Rules), and mining feasibility study, as well as Government Regulatory Approval.
The development of the 100% acquisition of Tong Ren Kai Yu Minerals Co., Ltd., including all the mineral properties, mining production and exploration, has created a significant breakthrough for the Company to strongly position itself in the mining resource industry in China, and/or worldwide, and also created an advanced new dimension to the Company as a global diversified assets holdings company due to the significant mineral properties with rare metals (Vanadium (V2O5), Molybdenum (Mo), Uranium (U)) and further production of these rare metals in China, and/or worldwide. Currently, the commodity values across the world are highly valued as approximately: Vanadium (V2O5) at US$11,700.00/Ton, Molybdenum (Mo) at US $62,000.00 US$68,000.00/Ton, and Uranium(U) at US$190,000.00/Ton or higher.
The Company is aiming to establish, expand, and diversify in the mining resource industry in China, and/or worldwide, in its rare metals resource and properties with mining licenses in production base in its own right, and through strong joint venture partners in the People’s Republic of China. The Company is establishing high-margin rare metals (Vanadium (V2O5), Molybdenum (Mo), Uranium (U)) production, increasing mineral resource inventory and mining life aiming at exploration, production and the development of multi-commodity project pipe lines. Furthermore, the Company’s mining projects and prospects will be based on rigorous economic evaluation, be subsequently advanced, and joint-ventured.
The Company’s objective is to achieve long-term capital appreciation through investment in companies and other entities with significant assets, investments, production activities, trading or other business interests in China, or/and worldwide, or/and which derive a significant part of their revenue from China, or/and worldwide.
The Company’s subsidiary: China Power, Inc. will continue its unique and specialized development in the renewable energy industry, such as Hydropower & Biomass Energy, to achieve its goal to reach a total power capacity from 150 MW to 1600 MW, shortly, with existing Hydropower & Biomass Projects with current electricity power production, revenues and significant assets, as well as new Hydropower & Biomass Energy projects with future revenue & production. China Power, Inc. is developing and fulfilling its development strategy & plans to be the leading renewable energy company in China, and/or worldwide.
About Tong Ren Kai Yu Minerals Co., Ltd.
Tong Ren Kai Yu Minerals Co., Ltd., a Company registered under the laws of the People’s Republic of China, operates and owns three mineral properties/mines, and operates and owns two mining licenses for producing rare metals, such as Vanadium (V2O5), Molybdenum (Mo) and Uranium (U), etc., and three exploration licenses and with in situ value of approximately RMB65 billion (approximately US$8.67 billion). All the mining & exploration licenses are approved by the Land & Resource Minister of the People’s Republic of China.
About China Holdings, Inc. (NASD OTCBB: CHHL)
China Holdings, Inc. (NASD OTCBB: CHHL) is a development stage company with the goal of becoming a diversified global assets holding company. The Company and its subsidiaries engage in multiple China-focused business activities including energy, renewable energy, resources, finance, real estate, utilities and pharmaceuticals. Its objective is to achieve long-term capital appreciation through investment in companies and other entities with significant assets, investments, production activities, trading or other business interests in China, or/and worldwide, or/and which derive a significant part of their revenue from China, or/and worldwide. The Company has two controlled subsidiaries: (i) China Power, Inc., and (ii) China Health Holdings, Inc. For the Company’s profile, please feel free to via website: http://www.chinaholding.net .
About China Power, Inc.
China Power Inc., a controlled subsidiary of China Holdings, Inc, is a development stage company with the goal of becoming a global leading energy & renewable energy holding corporation, that focuses on the Merger & Acquisition, investment, Research & Development, construction and operation of energy, and renewable energy, and environment protection projects in China and worldwide.
For worldwide investor and media inquiries, please contact:
China Holdings, Inc. (NASD OTCBB: CHHL)
Las Vegas and Beijing
James H. Simpson, Senior Vice President /Investors Relations
And Julianna Lu, Chief Executive Officer
Tel: +86-10-6586-4770 (China)
Fax: +86-10-6586-4790
Mobile: +86-1370-133-1287 (China)
Email: lujulianna@yahoo.com or info@chinaholding.net
Web: http://www.chinaholding.net
Safe Harbor Statement: To the extent that statements in the press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company’s development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward looking, all forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements and any other cautionary statements, which may accompany the forward-looking statements, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made. Other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the Company’s industry and general economy; competitive factors; ability to attract and retain personnel; the price of the Company’s stock; and the risk factors set forth from time to time in the Company’s SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. In addition, the company disclaims any obligation to update or correct any forward-looking statements in all of the Company’s press releases to reflect events or circumstances after the date hereof.
