VANCOUVER, British Columbia, July 29 /PRNewswire-FirstCall/ -- Today AGA Resources, Inc. (BULLETIN BOARD: AGAO) , a publicly traded company involved in the Chinese media and entertainment industry, announced the appointment of Xin Wei as Chairman of the Board of Directors and John Hui as Vice Chairman.
Mr. Wei has 15 years of management experience in China and has been CEO of China Mobility Solutions Inc., a U.S. public company, since 1997. He founded one of the first Internet Service Providers in China and built the company up to become one of the strongest players in the ISP industry and the top brand name in the Domain Registration industry in China, before negotiating its sale to a Hong Kong public company. He has strong ties within a wide variety of industries in China and has negotiated many merger and acquisition deals for public companies with some of the largest players in China.
Mr. Wei's connections in the local business community and local governments in China, as well as his experience developing and managing public companies, make him the perfect complement for the Board of Directors of AGA Resources. As the Company moves into the media and entertainment industry it intends to establish itself through acquisitions of companies in the industry, as well as to extend and develop the operations of its joint ventures, and Mr. Wei's participation will be invaluable.
"I am very happy to have this opportunity to bring my experience to the Company," says Mr. Wei, "We intend to establish and grow the business through a series of M&As of companies in the industry, making it one of the best media and entertainment companies in China."
Mr. Wei will be joining Director Mr. John Hui who will be appointed Vice Chairman of the Board of Directors. As both men have outstanding experience in the management of public companies, the combination will provide strong leadership for the Company in the time of its expansion into a new and exciting industry.
Born in Hong Kong and educated in the United Kingdom, the United States and Canada, Mr. Hui has extensive experience managing public companies both in China and in North America. He has launched, developed and managed many companies and organizations including China World Trade Corporation (CWTD), the World Trade Center Club Guangzhou, the World Trade Center Club Beijing, and Hutchison Communication Services Inc. Having worked in the media and entertainment industry in China and North America for almost 20 years, Mr. Hui has very broad connections in the industry, especially in Hong Kong.
"I bring years of business experience to our Company," says Mr. Hui, "I will help standardize operations to be in line with the rules for public companies and contribute to the success of the Company."
About AGA Resources, Inc.
AGA Resources, Inc. is an Exploration Stage Company. The Company has acquired a mineral property located in the Province of British Columbia, Canada and has not yet determined whether this property contains reserves that are economically recoverable. The Company has started exploration. The rock exposure samples have undergone analyses for the detection of precious metals in a certified laboratory and the Company will do further exploration to verify the results.
The Company recently spent C$10,000 for diamond core drilling equipment in order to better pursue its business plan. This equipment will enable the Company to drill for core samples to a depth of 1,400 feet, which will then be analyzed for mineral content.
If we find mineralized material and it is economically feasible to remove the mineralized material, we will attempt to raise additional money through a subsequent private placement, public offering or through loans. If we need additional cash and can't raise it, we will either have to suspend activities until we do raise the cash, or cease activities entirely. If we can't find any mineralized material or it is not economically feasible to remove the mineralized material, we will have to cease mining activities and focus on the media and entertainment industry.
Forward-looking statements
This report contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this report are forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors; developments of the Chinese and North American markets and changes in regulatory matters; our business strategies and future plans of operations; the market acceptance and amount of sales of our products and services; our historical losses; the competitive environment within the industries in which we compete; and our ability to raise additional capital, currently needed for expansion.
The Company cautions that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements due to several important factors.
Zhang, JianPing
Phone: 1-778-322-4332
