TORONTO, Nov. 15, 2018 (GLOBE NEWSWIRE) — Changfeng Energy Inc., (TSXV: CFY) (“Changfeng” or the “Company”), an energy provider in the People’s Republic of China (the “PRC”), is pleased to announce that, further to the press release of the Company dated December 30, 2015 entitled “Changfeng Obtains Land Use Right and Receives Government Approval for Natural Gas Transmission Project in Zhaoqing City, Guangdong Province” Changfeng has completed construction of the 2.0 kilometres (1.4 miles) of pipeline connecting the existing provincial natural gas trunk lines to the Gaoyao Combined Heat, Power and Cold Natural Gas Power Plant (the “Datang Gaoyao Plant”) owned by Guangdong Datang International Zhaoqing Heat & Power Co., Ltd. (“Guangdong Datang”). On November 14, 2018, Guangdong Datang began trial operation to transport natural gas through the Changfeng pipeline to the Datang Gaoyao Plant.
The Company is currently in negotiations with Guangdong Datang and Guangdong Grid with respect to a definitive agreement to provide the transmission service to the Datang Gaoyao Plant and expects to execute the definitive agreement in the near term.
Guangdong Datang International Zhaoqing Heat & Power Co., Ltd. (广东大唐国际肇庆热电有限责任公司)
Guangdong Datang International Zhaoqing Heat & Power Co., Ltd. is a subsidiary of Datang International Power Generation Co., Ltd. (“Datang International”). Together with its subsidiaries, Datang International engages in power generation and power plant development in the PRC. It operates through power generation, coal, and other segments. Datang International generates electricity through various sources, such as coal-fired, thermal, hydro, wind, nuclear, solar, and natural gas. As of December 31, 2017, Datang International managed an installed capacity of approximately 48,031.175 MW. Datang International also engages in heat supply; the import of power related fuel; coal mining and trading; silicon and aluminium smelting; the production and sale of alumina; cargo shipping; the sale of coal ash and integrated application of solid wastes; the repair and testing of power equipment; and the provision of power related technical services. Datang International was formerly known as Beijing Datang Power Generation Co., Ltd. The company was founded in 1994 and is headquartered in Beijing, PRC.
Datang Website: www.dtpower.com
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 PRC. 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.
Changfeng Energy Website: http://www.changfengenergy.com
CONTACT INFORMATION
Corporate Investment Relations
[email protected]
Ann Siyin Lin
VP, Corporate Development
[email protected]
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, including with respect to a definitive agreement with Guangdong Datang and Guangdong grid. 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.
