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Gateway Certifications Closes Merger With Chinese Alternative Fuel Company
LAS VEGAS, Jan. 11 /PRNewswire-FirstCall/ --Gateway Certifications, Inc (OTC Bulletin Board: GWYC) On November 16, 2009, Gateway Certifications, Inc. (the "Company") acquired Jianye Greentech Holdings Ltd. ("JGH"), a privately held corporation organized under the laws of the British Virgin Islands in accordance with an Agreement and Plan of Share Exchange (the "Exchange"). JGH is a holding company whose principal, operating companies develop, manufacture, and distribute alcohol-based automobile fuel products in the Peoples Republic of China. The Company's products are designed to function as a lower-cost, more environmentally friendly alternative to conventional gasoline-based auto fuel.
Pursuant to the terms of the Exchange, the Company acquired JGH in exchange for an aggregate of 3,548,796 newly issued shares (the "Exchange Shares") of the Company's common stock, and also approved an amendment to the Company's articles of incorporation changing the name of the Registrant to American Jianye Greentech Holdings Ltd.. Additionally, the Company approved a forward-split of its common stock on 7.89 for 1 basis and is applying for the split to take effect in the market, at which time 31,393,765 shares of common stock will be issued and outstanding. Upon the filing of a Definitive Information Statement and effectiveness of the name change, the Company intends to apply to change its stock symbol on the Over the Counter Bulletin Board.
Also on that date Haipeng Wang was appointed as the Company's Chairman and President; Daliang Yan was appointed Director and Chief Executive Officer; and Yulin Yang as Chief Financial Officer.
Mr. Wang commented, "China encourages the use of alcohol fuel as a substitute for gasoline due to its obvious economic and environmental benefits, which has provided a strong incentive for the development of the alcohol fuel industry in our country." Wang continued, "Jianye was among the first China-based fuel manufacturers to bring alcohol-based automobile fuel to the Chinese market and now has a facility in the Daoli District, Harbin City, in northeastern China. capable of producing 300,000 tons of alternative fuel annually. We're very excited about the growth prospects for our company and this industry."
Safe Harbor Statement: This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Gateway Certifications, Inc. are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the Company from time to time with the United States Securities and Exchange Commission.
CONTACT: Hanover Financial Services, +1-303-494-3617
SOURCE Gateway Certifications, Inc.
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