China Travel Resort Holdings Shareholder Update
NEW YORK, March 21, 2019 (GLOBE NEWSWIRE) -- China Travel Resort Holdings INC. (OTC Pink: CTVZ) (“The Company”) is pleased to announce the following shareholder update regarding recent material events and corporate actions:
On October 22nd 2018, Aidan Doyle, was appointed as new Chief Executive Officer and was issued 37,000,000 restricted ordinary shares. On the same date, an additional 38,000,000 restricted ordinary shares were also issued bring the total new share issuance to 75,000,000 and the new authorized share capital to 131,667,254.
On January 2nd 2019 and March 15th 2019, company financial statements for years ended 31st December 2016, 31st December 2017, and 31st December 2018, were filed with OTC Markets.com.
Additionally, on January 22nd 2019, it was unanimously agreed upon and resolved by a majority of shareholders that:
A) The company immediately change its core business to that of a Qualified Opportunity Fund.
B) The company will change its name to Cinderella Target Value Zones Inc at end of March 2019.
C) The company will launch on April 1st 2019, a $500 Million US Dollar Opportunity Zone Fund via an Equity Private Placement
An overview of Opportunity Zones
Opportunity Zones are communities that have been designated by state and federal governments where new investments aimed at improving these areas are incentivized with preferential tax benefits. The Tax Cuts and Jobs Act of 2017 established the Opportunity Zone Program, which provides powerful incentives for investors to reinvest capital gains into opportunity zones — targeted economically distressed areas across the U.S.
“The introduction of QOFs in the USA has opened up a new marketplace for capital formation and further allows our company to continue to move forward with our impact investing initiatives as defined within our mission statement. The new $500 Million US Dollar Fund which we aim to launch in second quarter of 2019, will open up enormous potential for those looking to raise and deploy capital at attractive rates and will invest directly into a diversified portfolio of assets in these zones, allowing investors to take advantage of preferential tax treatment. ” commented Aidan Doyle, CEO of China Travel Resort Holdings Inc.
About China Travel Resort Holdings Inc.
China Travel Resort Holdings Inc. (OTC PINK CTVZ) is a New-York based financial services company specializing in its own Qualified Opportunity Zone Fund. Investors can find further information both in English and Chinese at www.CTVZreorg.com.
Safe Harbor Statement
Statements in this press release that are not historical fact may be deemed forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Although China Travel Resort Holdings Inc. believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, China Travel Resort Holdings Inc. is unable to give any assurance that its expectations will be attained. Investors are cautioned that any such forward looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond China Travel Resort Holdings Inc’s. ability to control, and those actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in China Travel Resort Holdings Inc.’s filings with the Securities and Exchange Commission.
President & CEO: China Travel Resort Holdings Inc.
One World Trade Center, 85th Floor
New York, New York 10007
United States of America
English: +1 (646) 255 7400
Chinese: +1 (213) 444 0750