FoNT Holding Commences
Discussions to Enter Into a Definitive Agreement to
Acquire a Shanxi Coal Mine
Monday September 25, 3:46 pm ET
HONG KONG, Sept. 25, 2006 (PRIMEZONE) -- NT Holding
Corp. (OTC BB:NTHH.OB - News) today announced it has
commenced discussions to enter into a definitive purchase
agreement with Shanxi Linfen Lingu Coal Mine Limited
(``Lingu''), a coal mining company located in Shanxi,
China.
Lingu occupies a land mass of approximately 2.2 square
kilometers and owns a 21 year coal mine concession right
granted by the Chinese government. Lingu commenced its
production on January 30, 2002. Production capacity
is approximately 300,000 tons per year. Lingu currently
has approximately 250 employees. Total coal reserve
claimed by Lingu is approximately 8.5 million tons.
In order to ensure smooth and efficient mining operations,
Lingu owns its own power supply facilities, water pump,
conveyer belts and communication facilities within the
coal mine area.
``The coal mine concession right owned by Lingu is
one of the best in Shanxi in terms of location and its
refinery facilities,'' said Peter Chun, CEO of NTHH.
``NTHH has entered in further discussions with Lingu
to complete the definitive purchase agreement as quickly
as practical.''
About NT Holding Corp.
NTHH, through its subsidiaries, invests in and operates
companies in China and Asia that engage in energy and
natural resources businesses. NTHH is based in Hong
Kong and currently operates two subsidiaries in Asia:
(1) Shanxi Jinhai Metal Group that engages in coking
coal and steel production in the Shanxi Province of
China and (2) PT Borneo Mineral that owns a 30-year
coal mining right concession in Indonesia. NTHH is positioning
itself to support Asia's growing need for power, energy
and natural resources.
Disclaimer Regarding ``Forward-Looking Statements''
This news release contains ``forward-looking statements''
as defined under the Federal Securities Laws. Actual
results could differ materially from those projected
in the forward-looking statements as a result of certain
risk factors, including but not limited to: (i) adverse
changes in general economic or market conditions; (ii)
delays in or refusals of governmental approvals; (iii)
risks associated with acquisitions and investments,
including the challenges and costs of integration and
coordination; and (iv) other important factors as disclosed
previously and from time to time in NTHH filings with
the U.S. Securities and Exchange Commission. NTHH disclaims
any obligation to update any such forward-looking statements
after the date of this news release.
Contact:
NT Holding Corp.
(801) 303-5730
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