Montreal, Quebec CANADA, Mar 09, 2011 (Filing Services Canada via COMTEX) --
Blue Zen Memorial Parks Inc.(BZM - CNSQ),("Blue Zen" or the "Company"),a Company that specializes in the investment,development, and asset management of memorial parks and other realestate developments in the People's Republic of China ("PRC"), todayannounced that it has expanded its businessto include the sales, marketing and development of high-end retirementand wellness properties.The Company also announced that Sun ThinktankCreative Holdings Limited ("STC") and Edmond Yee Tai Yao, nominee shareholderfor Jiangsu Tiandilong Land Resource Technology Co. Ltd. ("Tiandilong")have signed a Standstill Agreement for their collective holding of 45million common shares that are currently held in regulatory escrow.
China is encountering enormous demand for luxury retirement facilities and wellness programs, fuelled by the escalating retirementof China's aging, affluent urban population. To respond to this rapidgrowth in demand, Blue Zen is expanding its holdings to encompass abroad range of services and facilities for China's seniors, in additionto its memorial parks development business.Accordingly, Blue Zen has entered into a partnership agreement("Agreement") with Sun Thinktank Creative Holdings Limited to worktogether on a project situated in Weihai, Shandong Province ("WeihaiProject").
Under the terms of the Agreement, Blue Zen will provide resourceintegration and marketing services for the Weihai project for which BlueZen will receive 7.5% of the total expected project revenue of RMB 4billion, or approximately 46 million Canadian dollars.
The Weihai Project is a high-end retirement and wellness realestate development located in the seaside city of Weihai, ShandongProvince.Weihai is often referred to as "the Hawaii of Asia." A famousport and tourist destination, Weihai has over 600 miles of coastline andis the recipient of the United Nations World Habitat Award, anddesignated as one of the most livable and environmental-friendly citiesin the world. Weihai's rich attractions include world-class gardens,animal parks, golf courses, and 5-star resort hotels, as well asexclusive, private living facilities.
This project has a total sellable area of 450,000 square meters that will be developed and sold over a 48 month period:
* Phase I development is 12,000 square meters of the community's premium villas.
* Phase II development is 40,000 square meters of the community's second set of premium villas.
* Phase III development is 400,000 square meters of the community's apartment and condo units.
Construction of the facilities is well underway. The Phase Ipremium villas, as well as the hotel reception area, and conferencecenter have already been completed. Sales will commence May 1st and itis expected that all of Phase 1 will be sold prior to year end.
In a recent interview in Beijing, P.R. China, Dr. Bruno Wu,Chairman of STC and Mr. Jiang Jiaping, Chairman of Tiandilong anddirector of Blue Zen, spoke of the significance of their decision not tosell, transfer or dispose of any of their 45 million shares in BlueZen, prior to June 30, 2012. Dr. Wu said, "We are doing this to signalour confidence and commitment to Blue Zen and its future. This companyhas enormous long term potential which we are confident will be realizedin the coming years. An investment in Blue Zen is an investment inbuilding something solid, something to last. This is not an appropriateinvestment for the short sighted players. We trust this escrow decisionwill set the tone for Blue Zen and its future." Mr. Jiang added, "We areencouraged by the support given to us by our fellow Blue Zenshareholders. Development of our first Memorial Park in Yixing Provinceremains on track while we pursue our new and promising businessexpansion opportunities."
About Blue Zen Memorial Parks Inc.
Blue Zen Memorial Parks Inc. specializes in investment,development, and asset management of Memorial Parks and other realestate developments in the People's Republic of China.
The Company's current total of issued and outstanding commonshares is 58,901,420 of which 45 million shares are subject to escrowand the Standstill Agreement.
About Sun Thinktank Creative Holdings Limited ("STC")
STC is a private company incorporated in the British VirginIslands on October 29, 2007 specializing in business development, publicrelations and marketing, and investment management for start-up andhigh-potential companies in China.
About Tiandilong and Chairman Jiang Jiaping
Tiandilong is a private company incorporated in the PRC and itsChairman Jiang Jiaping is a senior economist at the Nanjing Universityof Technology, the Chairman of Jiangsu World Dragon Group, a leadingcopper cable production company with nearly RMB20 billion in sales, andCEO of Hong Kong Masson Group. He is also a member of the All-ChinaFederation of Industry& Commerce, a director of the China Society for Promotion ofCommerce Program, the Vice-Chairman of the Yixing Federation of Industry& Commerce, and the Vice-President of the Yixing CharityFederation. Mr. Jiang received his EMBA from the University of Nanjingin 2006.
About Weihai Jinyang Group
Weihai Jinyang Group is a developer and operator of cultural realestate development projects and a property manager of touristattractions. The company is split into 5 main divisions: Management andadministration center, financial center, Marketing center, Projectconstruction center and the Beijing Operations Center and controls 3different subsidiary companies: Weihai Jinyang Cultural Broadcasting Co.Ltd., Weihai Jinyang Tourism and Development Co. Ltd. and WeihaiJinyang Art Education Organization.
Safe Harbor Statement
This news release contains statements that constitute "forward-looking information"or "forward-looking statements" within the meaning of applicablesecurities legislation.This forward-looking information is subject tonumerous risks and uncertainties, certain of which are beyond thecontrol of Blue Zen Memorial Parks Inc.Actual results or achievementsmay differ materially from those expressed in, or implied by, thisforward-looking information.No assurance can be given that any eventsanticipated by the forward-looking information will transpire or occur,or if any of them do so, what benefits that Blue Zen will derivetherefrom. Forward-looking information is based on the estimates andopinions of Blue Zen's management at the time the information isreleased and Blue Zen does not undertake any obligation to updatepublicly or to revise any of the forward-looking statements, whether as aresult of new information, future events or otherwise, except as may berequired by applicable securities laws.
For more information in China, contact:
Edward Zhao
Chief Financial Officer
edward.zhao@redrockinvestment.cn
For more information in North America, contact:
Robert Lupacchino
Consulting CFO North America
rlupacchino@stratacon.net
Source: Blue Zen Memorial Parks Inc. (CNSX: BZM)
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