Electra Stone Ltd. Enters into Jade Marketing and Distribution Arrangement with Silk Road Commodities Exchange
21.04.2016 | Accesswire
VANCOUVER, April 21, 2016 - Electra Stone Ltd. (TSX Venture: ELT) ("Electra") or ("the Company") is pleased to announce that the Company has entered into a distribution arrangement with Silk Road Commodities Exchange ("Silk Road") a jade and cultural products company with producing nephrite jade assets in China. Under the terms of the arrangement Silk Road will market and distribute Jade products from their "Culture Assets and Equity Exchange," an online platform that facilitates the purchase and secondary trade of cultural Chinese assets including: jade, jewelry, stamps and art. Electra will be the exclusive supplier to Silk Road for both raw and finished nephrite jade products through its manufacturing partner LYG Company in China as well as other jade suppliers in within Canada.John Costigan, President of Electra states, "Electra's mandate to increase the market share of BC Jade within China requires exactly this type of arrangement. We at Electra are focused upon opening distribution channels and creating strong local partnerships. This is the first step of a much broader initiative."
About Electra Stone
Electra Stone Ltd. is building a vertically integrated public Nephrite Jade mining, trading & marketing company. Electra is focused on international market growth and trade of Nephrite Jade from British Columbia into Asian markets with a specific focus on China. Electra also continues to operate its Apple Bay alumina-silica quarry on Vancouver Island, which has been in continuous operation since 2003.
About Silk Road
The Silk Road Commodities Exchange is a private Chinese company based in Fujian Province that mines and sells Hetian nephrite jade and other cultural products in 30 retail locations throughout China. Silk Road recently launched an online commodity exchange and trading platform focused on art, jade, stamps and jewelry. This national level platform is authorized by the First National Cultural Property Trading Institution, it is recognized and supported by the Chinese Central Government.
For further information and sales enquiries on Electra Stone Ltd. please visit www.electrastone.com.
Or contact: Tyler Lowes at tyler@electrastone.com or call 604-620-8589.
On behalf of the Board of Directors,
"John Costigan"
President and Director
Forward Looking Statement: This document contains forward-looking statements. Forward-looking statements in this news release include the successful distribution and sale of jade products on the Silk Road Commodities Exchange trading platform. Forward information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Factors which may prevent the forward looking statements from coming to fruition include that we may not agree on terms with Silk Road Commodities Exchange and we may complete contracts to carry out our announced plans. Even if we do complete contracts, we may not be able to finance our plans, markets may not develop as expected, we may not be able to complete sales on the Silk Road Commodities Exchange trading platform, and competitors may sell better or less expensive products and take our expected market share. Forward-looking information is provided as of the date hereof and is based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. We assume no responsibility to update, or revise them to reflect new events or circumstances, except as required by law. For a detailed list of risks and uncertainties as it relates to Electra Stone Ltd., please refer to the Company's 2015 financial statements filed with SEDAR.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.