October 21, 2008
LandStar (LDSR) Mining Merger Update
BEIJING, Oct. 21 /PRNewswire-FirstCall/ -- LandStar Inc. (LDSR) http://www.landstarcorp.com/ (site under construction) Further to the issuers announcement of Oct 17 regarding the Mexican mining opportunity, this venture actually includes 2 properties. One is in Mexico and the second property is in the state of Colorado. Colorado looks particularly attractive, being a patented mining project with more than a million tons of high grade gold silver deposit with access to processing facilities. This appears to be a ready now project, which could be in production within 3 - 6 months. The early cashflow with current precious metal prices makes this property of interest.
The second project in Mexico, equally lucrative, appears to be a longer startup proposition, however still offers excellent potential. The company CEO Mr. Li said, "Both of these projects have been brought and presented to us by our current Secretary, Compliance Officer and Director of Expansion and Research Mr. Garr Winters. I wish to express my sincere gratitude both for this opportunity, and for taking valiant and vigorous legal action to protect the interests of our shareholders. On the onset we wanted to take a time out and allow the upcoming merger with Hubai Chuguan Industry Co Ltd and LandStar to digest and settle, however we are mindful that in business timing is everything and that an exceptional, unique and high growth opportunity only presents itself every so often. Mr. Winters agreeing to stay on as our USA based representative, has put the mind at ease with the Hubai Chuguan Industry Co Ltd board of directors, and moreover his appointment acceptance to LandStar was the pivotal point for the upcoming merger between Hubai Chuguan and LandStar. Mr. Winters is a semi retired executive who acts in a similar capacity with many other small and mid cap companies. We are delighted and feel privileged to have him as part of our team as well concluded Mr. Li"
The issuer intends to close this transaction on all cash basis without disturbing the current share structure, with already pre-arranged financing based on the strength of the assets to be acquired. The company has filed an information expose on Pink Sheets and will keep the market informed as to our continued due diligence process of these opportunities.
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