NEWS
BULLETIN
Thursday, January 17, 2002
CBR Brewing Company, Inc. Announces New Controlling
Shareholder
HONG KONG, Jan. 17 /PRNewswire-FirstCall/
-- CBR Brewing Company, Inc. (OTC Bulletin Board: CBRB) ("CBR") announced that Zhaoqing City
Lan Wei Alcoholic Beverage (Holdings) Limited ("Lan Wei"), an entity controlled by the city
government of Zhaoqing, People's Republic of China ("PRC"), acquired control of CBR effective
January 10, 2002. Lan Wei purchased common shares representing an approximate 59.1% equity
interest in CBR from Shenzhen Huaqiang Holdings Limited ("Huaqiang"), the prior controlling
shareholder of CBR. Combined with Lan Wai's prior common stock holdings in CBR, Lan Wai
currently has an approximate 64.3% equity interest in CBR. The transaction has been submitted
to PRC governmental authorities for official approval.
It is also expected that Lan Wei will acquire
common shares representing an additional approximate 7.2% equity interest in CBR from a third
party in a private transaction in the near future.
As part of this transaction, Lan Wei also
acquired Huaqiang's 19.6% equity interest in Noble China, Inc., a public company traded on the
Toronto Stock Exchange that together with CBR owns a brewing facility in Zhaoqing.
It is expected that changes to the management
and board of directors of CBR will be forthcoming as a result of the aforementioned
transaction.
For further information, contact investor
relations at 310-274-5172. MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X85681788
CONTACT: Investor Relations, +1-310-274-5172,
for CBR Brewing Company, Inc. (CBRB) http://www.prnewswire.com
Copyright (C) 2002 PR Newswire.
All rights reserved.
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