Blue Zen Memorial Parks Inc.(BZM - CNSX),a company that specializes in the investment, development, and asset managementof Memorial Parks in the People's Republic of China ("PRC"), is pleasedto report on the progress that has been made to date with respect tothe launch of the Company's 2011 business strategy and its first land development project, Yixing Memorial Park, one month ago.
The Company, today, announced that Ms. Carla Qiong Zhou has been appointed as Chief Operating Officer("COO") for Blue Zen.As the COO, Ms. Zhou will oversee the overalloperations of the Company in China and preside over the development andinstallation of Yixing Memorial Park. Ms. Zhou is a seasonedprofessional with over ten years of corporate management experience inChina. In 2010, Ms. Zhou served as president of Sun Thinktank CreativeHoldings Ltd. From 2005 to 2010, Ms. Zhou served as CFO for Sun MediaGroup, one of China's largest privately-owned media groups. Ms. Zhouholds an Executive MBA from Tsinghua University and is a graduate of theShanghai University of Finance and Economics.
Ms. Zhou is confident that the Company is on track with itspublished 2011 Operations Plan (see Management Proxy Circular ofDecember 2010). According to Ms. Zhou, site planning is underway, whichshould allow for marketing and pre-selling of land units and monumentsto commence in late spring or early summer.The Yixing local operatingcompany registration has been completed and applicationsfor cultural land usage have been submitted to the Yixing countygovernment. The Company has recently entered into negotiations for twoadditional parcels of land - one in Inner Mongolia and the other inHenan Province - and expects to announce a final agreement regarding theInner Mongolia Park within the near future.
As part of its product line expansion and diversificationstrategy, Blue Zen has recently commenced discussions with a third partyregarding development of a high-end assisted living retirement communityand wellness center. The two parties have already agreed on preliminaryterms pending the signing of a Letter of Agreement in March.
About Blue Zen Memorial Parks Inc.
Blue Zen Memorial Parks Inc. specializes in investment,development, and asset management of Memorial Parks in the People'sRepublic of China. Blue Zen acquires land usage rights from the PRC anddevelops Memorial Parks near large cities and densely populated areasthat can be easily reached by auto, train or bus. Facilities andinstallations at Blue Zen's Memorial Parks are designed congruent withhistorical figures, local customs and religious culture, and fused withartistic influences. Blue Zen is developing its first Memorial Park, theJiangsu Yixing Jiangnan Cultural Memorial Hall, on a 49,208 squaremeter parcel of land in the county-level city of Yixing of JiangsuProvince. Consistent with its future growth and expansion strategy, BlueZen intends to acquire land usage rights, and install Memorial Parks,in all the major provinces of China.
As a result of the recent asset purchase and reverse take-overtransaction, which gave form to Blue Zen Memorial Parks Inc., shareswere consolidated on the basis of one (1) common share for every ten(10) common shares issued and outstanding, resulting in a total of58,901,420 Blue Zen shares outstanding.
Safe Harbor Statement
This news release contains statements that constitute"forward-looking information" or "forward-looking statements" within themeaning of applicable securities legislation.This forward-lookinginformation is subject to numerous risks and uncertainties, certain ofwhich are beyond the control of Blue Zen Memorial Parks Inc.Actualresults or achievements may differ materially from those expressed in,or implied by, this forward-looking information.No assurancecan be given that any events anticipated by the forward-lookinginformation will transpire or occur, or if any of them do so, whatbenefits that Blue Zen will derive therefrom. Forward-lookinginformation is based on the estimates and opinions of Blue Zen'smanagement at the time the information is released and Blue Zen does notundertake any obligation to update publicly or to revise any of theforward-looking statements, whether as a result of new information,future events or otherwise, except as may be required by applicablesecurities 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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