TORONTO, April 30, 2018 (GLOBE NEWSWIRE) -- Changfeng Energy Inc., (TSXV:CFY) (“Changfeng” or the “Company”), an
energy service provider in China, is pleased to announce the following:
Guangdong Natural Gas Grid Co., Ltd. Partnership
Changfeng and Guangdong Natural Gas Grid Co., Ltd. (“Guangdong Grid”) signed a memorandum of understanding in
April 2018 to jointly pursue natural gas pipeline projects in the Guangdong Province, the PRC. According to the Chinese
government’s 13th five-year plan, Guangdong Grid must construct the natural gas trunk pipelines for 21 cities in the
Guangdong Province and achieve full pipeline coverage by 2020. A task team has been established by Changfeng and Guangdong Grid to
finalize the details of the partnership with the intention of creating a joint venture for the development, investment, and
operation of city natural gas projects in the Guangdong Province.
Canadian Ambassador Visits Sanya Office
On April 28th, John McCallum, Ambassador of Canada to the PRC visited the Changfeng Sanya office.
Mr. McCallum expressed gratitude for Changfeng’s efforts in clean technology and contributions in the Canadian community,
including Changfeng’s donations in the Fort McMurray incident.
Guangdong Natural Gas Grid Co., Ltd.
Guangdong Grid was established in March 21, 2008, in Guangdong Province, the PRC. Guangdong Grid is a joint
venture of the China National Offshore Oil Corporation, the Sinopec Group, PetroChina Company Limited and the Guangdong Yudean
Group Co., Ltd., with a registered capital of RMB100 million. Guangdong Grid was formed with the purpose of establishing a province
wide network of natural gas trunk pipelines by 2020. The Guangdong pipeline network is more than 3,100km in length, with a total
planned investment of RMB470 billion. The reach of the Guangdong pipeline network includes the Pearl River Delta, eastern
Guangdong, northern Guangdong, and the four regional Western Guangdong pipe networks to cover 21 cities in the Guangdong Province
over the city-level natural gas distribution network, reaching annual gas transmission capacity of 60 billion cubic meters.
Guangdong Grid Website: http://www.gdngg.com.cn
About Changfeng Energy Inc.
Changfeng Energy Inc. is a Canadian public company currently traded on the Toronto Venture Exchange (“TSX-V”) under the stock
symbol “CFY”. It is an integrated energy provider and natural gas distribution company (or natural gas utility) in the People’s
Republic of China. Changfeng strives to combine leading clean energy technology with natural gas usage to provide sustainable
energy to its customer base in the PRC. In 2009, Changfeng was recognized as being one of China’s the Top Ten Most Influential
Brands in the Natural Gas Industry.
CONTACT INFORMATION
Corporate Investment Relations
Investor.relations@changfengenergy.cn
Ann Siyin Lin
VP, Corporate Development
ann.lin@changfengenergy.cn
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking statements and forward-looking
information (collectively, “Forward-Looking Statements”). All statements, other than statements of historical
fact, included or incorporated by reference in this document are Forward-Looking Statements, including statements regarding
activities, events or developments that the Company expects or anticipates may occur in the future. These Forward-Looking
statements can be identified by the use of forward-looking words such as “will”, “expect”, “intend”, “plan”, “estimate”,
“anticipate”, “believe” or “continue” or similar words or the negative thereof. No assurance can be given that the plans,
intentions or expectations or assumptions upon which these Forward-Looking Statements are based will prove to be correct and such
Forward-Looking Statements included in this news release should not be unduly relied upon.
Although management believes that the expectations represented in such Forward-Looking Statements are
reasonable, there can be no assurance that such expectations will prove to be correct. Such Forward-Looking Statements are not a
guarantee of performance and involve known and unknown risks, uncertainties, assumptions and other factors that may cause the
actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or
developments expressed or implied by such Forward-Looking Statements. These factors include, without limitation, no significant and
continuing adverse changes in general economic conditions or conditions in the financial markets. Readers are cautioned that all
Forward-Looking Statements involve risks and uncertainties, including those risks and uncertainties detailed in the Corporation’s
filings with applicable Canadian securities regulatory authorities, copies of which are available at www.sedar.com. The Company
urges readers to carefully consider those factors.
The Forward-Looking Statements included in this news release are made as of the date of this document and the
Company 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 legislation. This news release does
not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue
reliance should not be put on such.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
A photo accompanying this announcement is available at http://resource.globenewswire.com/Resource/Download/eac0b526-c7a1-4474-8d8a-4ef40ef7453c
