Jeantex Group Announces Name Change and Capital Restructuring
26 Février 2010 - 7:28AM
Jeantex Group, Inc. (OTCBB:JNTX), a company engaged in green
technologies for asphalt, roofing materials, and heating systems as
well as in energy and natural resources, today announced that the
Company will change its corporate name to "Catalyst Resource Group,
Inc." and reduce the total amount of authorized common stock of the
corporation from 4,999,500,000 to 300,000,000 shares.
A majority of the shareholders eligible to vote have adopted
these changes and the Company will submit a filing with the
Securities and Exchange Commission to report these events.
Jeantex Group, Inc.'s root dated back to 1947 when it was first
established as an Idaho mining company under the name "Western
Silver-Lead Corporation." In its course of business over several
decades the company has increased its authorized capital of common
stock to 4,999,500,000 shares, a level the Board of Directors
considers superfluous. The Company believes it is appropriate to
change the corporate name to better reflect the new scope of
business and prudent to reduce the amount of authorized capital to
a reasonable level.
The Company has recently entered into agreements with Professor
Bernadus Prawoto of Jakarta, Indonesia, who has successfully
invented and patented innovative green technologies for synthetic
asphalt, roofing materials, bio-fuels, and cosmetic products. In
addition, Jeantex Group has signed an agreement to acquire a 49
percent equity stake in Kyung Ki Jae Il Kwang Up Soh (KJS), a South
Korean corporation engaged in coal mining. The Company will
issue an update on these transactions and other developments in the
next few weeks.
About Jeantex Group, Inc.
Jeantex Group was previously engaged in the textile-apparel
clothing industry, focusing on denim goods and accessories. The
Company has discontinued its apparel business and is in the process
of restructuring into two divisions, construction materials and
energy and 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.
Frank Pham
714-843-5459
info@cataresource.com