NEW YORK, Feb. 17, 2016 /PRNewswire/ -- eBullion Inc. (EBML) Announced Approval of Business License of Entering China Gold Trading Market. eBullion is the only company listed in U.S. with the license to operate Gold trading business in China.
eBullion's wholly owned subsidiary Man Loong Bullion Company acts in its capacity as an officially designated electronics trading member of the Chinese Gold and Silver Exchange Society ("CGSE"), a self-regulatory organization registered in Hong Kong which acts as an exchange for the trading of Gold and Silver in Hong Kong. Man Loong holds a Type AA License with the CGSE, which authorizes it to engage in the electronic trading of Kilo Gold and Loco London Gold and Silver on behalf of its clients.
In 2015, the CGSE China office offers one-stop corporate services for CGSE members for gold trading license registration in Qianhai (a Free Trade zone in China), which include services such as tax return, annual review, financial and tax consultation, monthly account books, issue of capital verification documents, arrangement of visits and liaison with the State Administration for Industry and Commerce and the Qianhai Authority.
In January, 2016, with the support from CGSE, eBullion's wholly owned subsidiary Man Loong Bullion Company has received official approval of license to operate gold trading business in China. This is a milestone of eBullion business development, the company is the only company listed in U.S. with the license to operate Gold trading business in China. The Company will be able to offer services for investors in China to trade gold and silver. The company can also provide services to Investors in Hong Kong or other countries in Asia to trade gold and silver in China markets. Based on the significant size of China gold and silver trading market, eBullion will invest resource to further develop business in China to create long term revenue stream.
This press release contains forward-looking statements that may involve risks and uncertainties. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this press release, the words "plan", "target", "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding eBullion's strategy, future plans for business development, future expenses and costs, future liquidity and capital resources, and estimates of business profit. All forward-looking statements in this press release are based upon information available to eBullion on the date of the release, and eBullion assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The company's actual results could differ materially from those discussed in this press release. In particular, there can be no assurance that business development will continue at any specific progress. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the company's 10-K filed with the U.S. Securities Exchange Commission.