HUIZHOU, China, Sept. 13 /PRNewswire-Asia-FirstCall/ --
This press release is issued for information purposes only and
does not
constitute an offer to sell or the solicitation of an offer to
subscribe for
or buy any security, nor is it a solicitation of any vote or
approval in any
jurisdiction, nor shall there be any sale, issuance or transfer
of the
securities referred to in this press release in any jurisdiction
in
contravention of applicable law.
Neither the United States Securities and Exchange Commission nor
any state
securities commission has approved or disapproved of the
Proposed Offer or
securities to be issued in connection therewith, or passed upon
the adequacy
or accuracy of this press release, or the merits or fairness of
the Proposed
Offer. Any representation to the contrary is a criminal
offense.
Qiao Xing Universal Resources, Inc. (Nasdaq: XING) ("the
Company" or "XING"), an emerging Chinese resources company
headquartered in Huizhou,
Guangdong Province, today
announced that the Company will present at the Rodman & Renshaw
Global Investment Conference (the "Conference").
The Company will also have a non-deal road show between and
after the conference to provide a business update to the investment
community in New York,
Dallas and Los Angles. The Company
will deliver a PowerPoint presentation at the Conference, which is
now available at the Company's website http://www.cosun-xing.com
and on the SEC website at www.sec.gov.
The date, time, and location of XING's presentation on the China
Track at the Conference are as follows:
Date: Wednesday, September 15, 2010
Time: 09:10 a.m. to 09:35 a.m. (US Eastern Time)
Location: Kennedy II Salon (4th floor)
The New York Palace
455 Madison Avenue
New York, NY
The Rodman & Renshaw conference is being held September 12 - 15, 2010 and features more than
100 Chinese companies on the China Track. The gathering of
presenting companies, senior management, and industry experts, as
well as institutional investors, provides a comprehensive look at
China's small- and mid-cap
investment universe. Keynote speaker at the Conference will include
Henry M. Paulson, Jr., 74th U.S.
Secretary of the Treasury.
About Qiao Xing Universal Resources, Inc.
Qiao Xing Universal Resources, Inc. is an emerging Chinese
resources company headquartered in Huizhou, Guangdong
Province, China. The
Company was previously one of the leading players of
telecommunication terminal products in China, but made the strategic decision to
diversify into the resources industry in 2007. In April 2009, the Company acquired the 100% equity
interest in China Luxuriance Jade
Company, Ltd ("CLJC"). CLJC, through its wholly owned Chinese
subsidiaries, owns the rights to receive the expected residual
returns from Chifeng Haozhou Mining Co., Ltd. ("Haozhou Mining"), a
large copper- molybdenum poly-metallic mining company in Inner
Mongolia, China. Since then, the
Company has further refined its strategy to become a pure resources
company and is actively seeking additional acquisition targets in
the resources industry.
Safe Harbor Statement
This press release contains forward-looking statements that
involve risks and uncertainties. These include statements about our
expectations, plans, objectives, assumptions or future events. In
some cases, you can identify forward-looking statements by
terminology such as "anticipate," "estimate," "plans," "potential,"
"projects," "continuing," "ongoing," "expects," "management
believes," "we believe," "we intend" and similar expressions. These
statements involve estimates, assumptions and uncertainties that
could cause actual results to differ materially from those
expressed. You should not place undue reliance on these
forward-looking statements.
Forward-looking statements include all statements other than
statements of historical facts, such as statements regarding
anticipated mining production capacity and volumes, unit net costs
of mining production, mining sales volumes, ore grades, molybdenum
and other commodity prices, demand for molybdenum, lead, zinc and
other resources, mine development and capital expenditures, mine
production and development plans, anticipated acquisitions, the
privatization of QXMC, the spin off of QXMC's mobile phone
business, availability of power, water, labor and equipment,
environmental liabilities and expenditures, litigation liabilities
and expenses, estimates of proven and probable reserves and other
mineralized material, political, economic and social conditions in
the areas of the Company's operations and exploration efforts and
results.
Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement. Information regarding these factors is included in our
filings with the Securities and Exchange Commission. Qiao Xing
Universal Resources, Inc. does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law. All information provided in this press release is
as of September 13, 2010.
Additional Information and Where to Find It
Qiao Xing Universal Resources, Inc. plans to file a Schedule
13E-3 with the United States Securities and Exchange Commission
(the "SEC") in connection with its proposed offer to acquire all of
the outstanding shares of QXMC that it does not currently own (the
"Proposed Offer"). The Schedule 13E-3 will contain additional
information regarding the Proposed Offer, including, without
limitation, information regarding the special meeting of
shareholders of Qiao Xing Mobile Communication Co., Ltd that will
be called to consider the Proposed Offer. The Schedule 13E-3 will
contain important information about Qiao Xing Universal Resources,
Inc., Qiao Xing Mobile Communication Co., Ltd, the Proposed Offer
and related matters. Investors and shareholders should read the
Schedule 13E-3 and the other documents filed with the SEC in
connection with the Proposed Offer carefully before they make any
decision with respect to the Proposed Offer. A copy of the Scheme
of Arrangement with respect to the Proposed Offer will be an
exhibit to the Schedule 13E-3. The Proposed Offer is expected to be
exempt from the registration requirements of the United States
Securities Act of 1933 Act by virtue of the exemption provided by
Section 3(a)(10); however, it is possible that the offer may change
forms such that the exemption provided by Section 3(a)(10) may no
longer be available. In such a case Qiao Xing Universal Resources,
Inc. may file a Form F-4 with respect to the Proposed Offer.
The Schedule 13E-3 and all other documents filed with the SEC in
connection with the Proposed Offer will be available when filed
free of charge at the SEC's web site at www.sec.gov. Additionally,
the Schedule 13E-3 and all other documents filed with the SEC in
connection with the Proposed Offer will be made available to
investors or shareholders free of charge by calling or writing
to:
Company Contact:
Rick Xiao, Vice President
Qiao Xing Universal Resources
Tel: +86-752-282-0268
Email: rick@qiaoxing.com
CCG Investor Relations Contact:
Mr. Ed Job, Account Manager
Email: ed.job@ccgir.com
Tel: +1-646-213-1914 (NY office)
SOURCE Qiao Xing Universal Resources, Inc.
Copyright . 13 PR Newswire