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China Security & Surveillance Technology, Inc. ("China Security") (NYSE: CSR)(January 22, 2008) , a leading provider of digital surveillance technology in China, announced earlier today that it has won a bid for a Safe City project in Jie Yang City in the Guangdong province to build out a surveillance network within the city for the police department.
The project is expected to spread across four phases over four years and will be jointly implemented with China Unicom, which is responsible for the build out of the data transmission network. The Company will sign four separate contract agreements over the course of the four year period. The approximate contract value for the four years is RMB 100 million (approximately USD$13.8 million, based on a conversion price of USD: RMB 1.00:7.27) with a portion of the contract value to be paid to China Unicom. The contract value is expected to be spread equally across the 4 years, or approximately RMB25 million per year.
Mr. Guo Shen Tu, Chief Executive Officer of China Security, commented, ''This is a great contract win for our company. China Security is making good progress securing longer-term contracts and has the ability to work with high profile partners in China. There were other notable bidders on this project but we secured this win based on our comprehensive security solutions offering and competitive pricing. Our integrated offering for the Jie Yang City project will add to our revenue stream over the long term and provides us with greater credibility and experience when we bid for other similar projects in the near future.''
The Company reiterates comfort with its revenue estimate of US$80-$85 million and adjusted net income of at least US$14 million for 4Q07. It also reiterates comfort with 1Q08 revenue, adjusted net income and adjusted diluted EPS of US$68-$70 million, US$13-14 million and US$0.31-0.34, respectively, and FY08 revenue, adjusted net income and adjusted diluted EPS of US$350-$370 million, US$65-$75 million, and US$1.50-$1.75, respectively.
Based in Shenzhen, China, China Security manufactures, distributes, installs and maintains security and surveillance systems throughout the PRC. China Security has manufacturing facilities located in China and a R&D facility which maintains an exclusive collaboration agreement with Beijing University. China Security has built a diversified customer base through its extensive sales and service network that includes numerous points of presence throughout the PRC.
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Capital Gold (OTC Bulletin Board: CGLD) (January 22, 2008)released a statement earlier today regarding the current proxy statement, specifically referencing proposal no. 4.
It has come to attention of Capital Gold Corporation that there is misinformation and a general misunderstanding about proposal no. 4 to be voted on at the Company's annual stockholders' meeting this coming Thursday. That proposal is to amend the Company's certificate of incorporation to permit stockholder action to be taken only at a duly called annual or special meeting of stockholders and eliminate stockholder action by written consent.
If this proposal is passed, it will not, as some people believe, eliminate stockholders' right to vote by proxy and require stockholders to physically show up at stockholders' meetings. Stockholders would still have the right to vote at any meeting of stockholders by submitting a written proxy.
We urge all stockholders who have yet to vote, to do so today. If you have any questions, please call MacKenzie Partners, Inc. at 1-800-322-2885.
About Capital Gold Capital Gold Corporation (CGLD:CGC) is a gold production and exploration company. Through its Mexican subsidiaries and affiliates, it owns 100% of the El Chanate gold property in Sonora, Mexico. The proven and probable reserve is now 832,000 ounces of gold. Further information about Capital Gold and the El Chanate Gold Mine is available on the Company's website, www.capitalgoldcorp.com.
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On behalf of Exact Energy Resources, Inc. (the "Company") (PINK SHEETS: EXER) (January 22, 2008) President Rod Burns, P. Eng., announced earlier today that the Company has committed to a natural resource exploration program to establish the economic parameters of the mining leases that it has negotiated to acquire. More particularly, the company will be putting in place a development team to both acquire additional leases and establish conventional economic valuation.
Dr. Hansen, as president and owner of Keystone Surveys, Inc. which provides engineering, surveying and technical design services to the mining industry, will direct the company's efforts with respect to this exploration and acquisition phase of development. Keystone owns and manages approximately 4,000 acres of privately owned mining and oil/gas properties situated in Juab, Utah.
"We are looking forward to the direction that Dr. Hansen can provide our company", said Rod Burns, president. "As the CEO of Centurion Mines Corporation, Dr. Hansen was responsible for management of all the affairs of the company, including SEC compliance, accounting, and top-level technical supervision of company activities. It is this level of experience and expertise that the Company is looking forward to in our current stage of acquisition and development" he continued.
With the expanded focus of technological development as well as natural resource exploration and commercialization, the company has initiated efforts to augment its management team. "We are seeking to add significant depth to our organization, including skills related to natural resource development and financing", remarked Burns. "We are very excited about this stage of our corporate growth and development. We believe that the diversification efforts that we have initiated will serve the company well, particularly given the recent turmoil in the commodities markets".
The Company is currently acquiring and venturing within the Natural Resource sector. The initial focus and development will be on lower risk, high quality prospects which will provide the Company with a higher probability of success. Each of the projects currently under consideration will be described in greater detail in the near future.
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