King Resources, Inc. (KING) Sells Control Block in Private Transaction

WASHINGTON, Feb. 5  /PRNewswire-FirstCall/ -- King Resources, Inc. announced today that a majority shareholder has sold a controlling block of shares in a private sale to a third party. The sale was coupled with securing a $2.5 million USD line of credit secured by preferred shares.

In related developments, the Company retained a corporate consultant to assist in identifying suitable private companies to be acquired as an operating subsidiary. A short list of candidate companies from Asia and North America will be put forward for consideration within the next few weeks.

The Company will provide further details as they become available.

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.

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DATASOURCE: King Resources, Inc.



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