Boyuan receives conditional approval to graduate to the TSX
TORONTO, April 15 /CNW/ - Boyuan Construction Group, Inc., (TSX-V: BOY &
BOY.DB) a fast-growing construction company in China of commercial,
residential and municipal infrastructure projects, announced today that it has
received conditional approval to graduate from the TSX Venture and list its
common shares and debentures on the Toronto Stock Exchange (TSX). Final
approval is subject to Boyuan meeting certain conditions and requirements.
Boyuan expects to satisfy all requirements and that its common shares and
debentures will begin trading on the TSX in the coming weeks. In the interim,
Boyuan's common shares and debentures will continue to trade on the TSX
Venture Exchange under the symbols BOY and BOY.DB, respectively.
About Boyuan Construction Group, Inc.
Based in Jiaxing City, China, Boyuan Construction Group, Inc. is in the
business of residential and commercial building construction, municipal
infrastructure and engineering projects. In its last four fiscal years ending
June 30, 2009, Boyuan completed more than 125 projects for a number of private
and public sector clients including Cargill and the Dalian Shide Group, a
billion dollar conglomerate whose partners include DuPont, Mitsubishi and GE.
Boyuan's current backlog includes residential, industrial and mixed-use
developments, including a five-star hotel and a project at the Qingshan
Nuclear Plant, China's first and largest nuclear facility. From its operating
bases in Zhejiang Province and on Hainan Island, Boyuan focuses on
construction projects in China's fast-growing regions of the Yangtze River
Delta, the city of Sanya and Shandong Province. For more information visit
www.boyuangroup.com or follow us on Twitter at www.twitter.com/boyuangroup
Caution Regarding Forward-Looking Information:
Certain information contained in this press release constitutes
forward-looking information, which is information relating to future events or
the Company's future performance and which is inherently uncertain. All
information other than statements of historical fact may be forward-looking
information. Forward-looking information is often, but not always, identified
by the use of words such as "seek", "anticipate", "budget", "plan",
"continue", "estimate", "expect", "forecast", "may", "will", "project",
"predict", "potential", "targeting", "intend", "could", "might", "should",
"believe" and similar words or phrases (including negative variations)
suggesting future outcomes or statements regarding an outlook. Forward-looking
information contained in this press release includes, but is not limited to,
the Company's expectations regarding the Company satisfying all requirements
of the TSX conditional listing approval and graduating the Company's listing
to the TSX. Forward-looking information involves known and unknown risks,
uncertainties and other factors that may cause actual results or events to
differ materially from those anticipated in such forward-looking information.
The Company believes the expectations reflected in the forward-looking
information are reasonable but no assurance can be given that these
expectations will prove to be correct and readers are cautioned not to place
undue reliance on forward-looking information contained in this press release.
Some of the risks and other factors which could cause results to differ
materially from those expressed in the forward-looking information contained
in this press release include, but are not limited to: risk of macro-economy
cycle, risk from competition, risk from insufficient marketing to secure new
projects, risk in obtaining additional financing, risk involving permits and
licences, reliance on key management member, risk from supply of raw
materials, risk of financial leverage, risk of bad debts in accounts
receivables, risk involved in real estate development, foreign exchange
fluctuations, political and economic conditions in China and other risks
included in the Company's Annual Information Form for the fiscal year ended
June 30, 2009 and in the Company's public disclosure documents filed with
certain Canadian securities regulatory authorities and available at
www.sedar.com. The forward-looking information contained in this press release
are made as of the date hereof and the Company undertakes no obligation to
update publicly or revise any forward-looking information, whether as a result
of new information, future events or otherwise, except as otherwise required
by law.
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