TAIYUAN, China, Oct. 9 /Xinhua-PRNewswire-FirstCall/ -- Puda Coal, Inc. (OTC Bulletin Board: PUDC) ("Puda Coal" or "the Company") today announced the appointment of C. Mark Tang, Ph.D., MBA, as an independent director to the Company’s board of directors. This appointment increases the size of the board of directors to 4 members, the majority of which are independent, and is in line with the Company’s commitment to enhance its corporate governance practices.
Mr. Tang is the founder and Chairman of World Technology Ventures, LLC, an international merchant banking and advisory firm specializing in financing and advising healthcare biotechnology and small medium enterprises in the US and Asia. Prior to his current position at establishing World Technology Ventures LLC, he was a member of the faculty and Director of Biotech Commercialization at Rutgers Business School, New Jersey. He has over ten year’s experience as a senior biotech analyst, investment banker, venture capitalist and investment advisor through his work at global investment banks including PaineWebber and Morgan Stanley. He is a published author, an entrepreneur, and a frequent international speaker on various investment topics in the United States and Asia. Mr. Tang graduated from New York University and holds a MBA degree in Finance and a Ph.D. in Biochemistry and Molecular Biology from the University of California at Riverside.
"Mark brings a strong financial background to the board with extensive experience in financial operations, capital markets, and investment management that can be applied to a diverse set of industries," stated Zhao Ming, Chairman and Chief Executive Officer. "We are very pleased to have him join us as a new independent director, and we look forward to his contribution as Puda Coal continues to develop its platform for future growth and success."
About Puda Coal, Inc.
Puda Coal, through its subsidiary Shanxi Coal, supplies premium grade coking coal to the steel making industry for use in making coke. The Company currently possesses 3.5 million metric tons of annual coking coal cleaning capacity, and management believes it is the largest coking coal cleaning company in terms of capacity in Shanxi Province, China. Shanxi Province provides 20 - 25% of China’s coal output and supplies nearly 50% of China’s coke.
Forward-looking Statements
The information contained herein includes forward-looking statements. These statements relate to future events or to our future anticipated financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We do not intend to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.
For more information, please contact:
Investor Relations Contact:
Crocker Coulson, President
CCG Elite
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Company Contact:
Wenwei Tian, Director of Investor Relation
Puda Coal, Inc.
Tel: +86-35-1228-1302
Email: awtian@yahoo.com
