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The company recently changed its corporate name from Jeantex Group, Inc. to Catalyst Resource Group, Inc. to reflect our exciting new scopes of business and also substantially reduced its total amount of authorized common stock from 4,999,500,000 to 300,000,000 shares.
Catalyst Resource's new business focus will include the implementation of the agreements with a select group of inventors to commercialize patented innovative green technologies for synthetic asphalt, roofing materials, heating systems, energy efficiencies and natural resources.
The previously announced agreement to acquire an equity stake in a South Korean coal mining company has not been consummated and the company may continue to pursue this transaction in a different capacity. Catalyst Resource has been actively investigating breakthrough technologies that have proven to greatly enhance coal mining economics and optimize efficiency in industrial heating.
Catalyst Resource has been working with a number of U.S. and international partners to commercialize products related to the green technologies. The company has also reached advanced negotiations with some major end users that would greatly benefit from the breakthrough industrial heating technologies.
Catalyst Resource Group's chairman Henry Fahman stated: "We are delighted with the name change and the new trading symbol for the company, as this marks a new beginning for our future. We expect to conclude some important lucrative transactions very soon and we will be able to provide guidance for the Company's revenue and operating targets."
About Catalyst Resource Group, Inc.
Catalyst Resource Group, Inc. is a Florida corporation that was originally engaged in mining of silver-lead in 1947. The Company has gone through a number of business combinations and restructurings and is currently focused on green construction materials, energy and natural resources.
Safe Harbor: This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. Such forward-looking statements are made based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.
CONTACT: Catalyst Resource Group, Inc. Henry Fahman 714-843-5455 info@cataresource.com
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