May 24, 2011 (Marketwire Canada) --
CALGARY, ALBERTA and HONG KONG, CHINA -- Grand Power Logistics Group Inc. ("Grand Power" or the "Company") (TSX VENTURE:GPW), a leading China-based international logistics provider, is pleased to announce that the Company has fully contributed US$7,500,000 in registered capital of Grand Power Express International (China) Limited ("GPE China"), a Company subsidiary located in Shanghai. GPE China is the Company's headquarter in China for its China operations.
GPE China, with a primary function to facilitate logistics network in China, is fully licensed to operate air freight, sea freight, courier, warehouse and custom brokerage businesses in China. With GPE China' registered capital fully contributed, Grand Power is now allowed to establish up to 100 branches in China without requiring additional registered capital or application.
"With GPE China's US$7.5 million registered capital fully contributed, this now allows us to expand our business in China more aggressively, especially on the expansion of domestic logistics network in China." said Ricky Chiu, President and CEO of Grand Power.
About Grand Power Logistics Group Inc.
Grand Power Logistics Group Inc. operates principally through its wholly owned Hong Kong based subsidiary, Grand Power Express International Limited (GP Express), and provides air- freight forwarding and sea-freight services, customs brokerage, logistics, warehousing and distribution, as well as other value added services. GP Express has established operations in various regions, particularly in the Greater Pearl River Delta (GPRD), China's largest economic region. GP Express' Subsidiaries or Branch Offices in this region are located in Macau, Shenzhen and Guangzhou. GP Express also operates in other regions through Subsidiaries and Branch Offices or Supporting Offices in Shanghai, Beijing, Tianjin and Xiamen. For more information visit http://www.grandpowerlogistics.com.
Statements included in this press release that are not historical facts may be considered "forward looking statements". All estimates and statements that describe the Company's objectives, goals or future plans are forward looking statements. Forward-looking statements involve inherent risks and uncertainties where actual results could differ materially from those currently anticipated.
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.
Grand Power Logistics Group Inc.
(403) 237 - 8211
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(403) 262 - 9888
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(403) 561 - 8989