Tickers: XTSX:CNH, PINX:CWNHF
Tags: Mining
Vancouver, British Columbia / TheNewswire / May 10, 2016 - Crownia Holdings Ltd. (TSX-V: CNH; OTCQB: CWNHF) ("Crownia" or the "Company") is pleased to announce that its subsidiary, Jinsili international Steel Holdings Co., Ltd. ("Jinsili") has successfully completed sales orders from three new customers, Izhar Concrete (PVT.) Ltd., ("Izhar"), Khulna Shipyard Limited ("Khulna) and Dockyard and Engineering Works Ltd. ("Dockyard").
Jinsili completed the sales orders and has fulfilled the letters of intent ("LOIs") with Khulna and Dockyard mentioned in news release dated November 17, 2015. Furthermore, Jinsili has completed sales contracts valued at $215,000 with Izhar Concrete (PVT.) Ltd. ("Izhar") in Pakistan.
Izhar is a leading company in construction engineering which is engaged in the business from commercial to residential construction. Pakistan office is focusing on pre-engineered metal buildings which are on fast growing demand due to their cost effectiveness.
"We are pleased to have fulfilled the signed LOIs with Khulna and Dockyard and the sales contracts with Izhar," commented Herrick Lau, CEO of Crownia. "We are building up our sales in Bangladesh. Sales for the early 2016 have reached approximately $1.5 million in global sales."
As a specialty steel trading company, Crownia provides value-add by identifying suitable suppliers for products that best suit customer needs, establishing distribution centers in optimal locations, and providing superior sales and after-sale services to customers. For more information, please contact Gilbert Chan at (604)488-8878 or email ir@crowniaholdings.com.
On behalf of the Board of Directors,
This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein may be forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans" "expects" or "does not expect", "proposed", "is expected", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information in respect of the Company reflects the Company's as the case may be, current beliefs and is based on information currently available to the Company and on assumptions the Company as the case may be, believes are reasonable.
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The forward-looking statements contained in this press release represent the expectations of the Company as of the date of this press release and, accordingly, are subject to change after such date. However, the Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
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