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Microcap & Penny Stocks : TNRG Tianrong Building Materials -- Ignore unavailable to you. Want to Upgrade?

To: Sigmund who wrote (3186)	8/23/1998 9:41:00 PM
From: ISOMAN	Read Replies (1) \| Respond to of 9824

Tianrong Building Material Holdings Ltd. Acquires Interest in Szechuan Shopping Center NEW YORK--May 1, 1998--Tianrong Building Material Holdings Ltd. (OTC BB:TNRG) announced today that it has finalized its agreement to purchase an 80% interest in Chongquing Dazheng Emporium Co. Ltd., a Chinese holding company for a shopping center located in the province of Szechuan. The acquisition will be done through a $48 million convertible debenture. The conversion price of the debentures will be $3.00 per share. The Chongquing's Szechuan shopping center is a 200,000 square foot mall-like property with over 100 retail and wholesale stores. The shopping center has $144 million in revenue and $5 million in net revenues. Tianrong is a business development company that has set as its goal the acquisition of businesses in numerous industries and plans to apply Tianrong's management expertise to quickly grow value in the acquired businesses. It is anticipated that on a long-term basis some of its acquisitions may be spun-off to Tianrong shareholders via stock dividends. For further information on Tianrong, please contact James Tilton, 212/398-7833. -------------------- The mall is no where near the flood range. That was cleared up a long time ago. The mall is being audited for filings.