Jiulian Resources Inc.(TSXV: JLR.P) has now closed its previously announced non-brokered private placement with the issuance of 4,620,000 Shares at a price of $0.36 per Share raising gross proceeds of $1,663,200. The common shares are subject to a hold period and may not be traded in British Columbia until March 7, 2008, except as permitted by the Securities Act (British Columbia), the rules made thereunder, and by the TSX Venture Exchange. Proceeds of the private placement will be used for working capital.
Dr. Charlie Cheng, CEO of Jiulian, is pleased to announce the appointment of James Zhang, CGA, as Chief Financial Officer of Jiulian.
Mr. Zhang is currently a Director of the company and will assume direct responsibility for financial reporting, office management and assisting with all aspects of strategic planning and analysis.
Mr. Zhang is a China business specialist with over 20 years of practical experience in business development, management consultation, and accounting practice in both the private and public sectors. Mr. Zhang is the President of Oslar Enterprises Inc., a private management consulting company specializing in strategic planning, program development, implementation, and evaluation. The company provides management consulting, and accounting services to both private and public companies.
On behalf of the Board of Directors of
JIULIAN RESOURCES INC.
President & CEO
About Jiulian Resources Inc.
Jiulian Resources Inc. was recently listed on the TSX Venture Exchange under the Capital Pool Program. Jiulian does not currently have an active business. Management are working towards the initiation of a resource exploration property acquisition that would constitute a Qualifying Transaction pursuant to the CPC Policy of the Exchange.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.