HONG KONG, Sept. 25, 2006 (PRIMEZONE) -- NT Holding Corp. (OTCBB:NTHH) today announced it has commenced discussions to enter into a definitive purchase agreement with Shanxi Linfen Lingu Coal Mine Limited ("Lingu"), a coal mining company located in Shanxi, China.
Lingu occupies a land mass of approximately 2.2 square kilometers and owns a 21 year coal mine concession right granted by the Chinese government. Lingu commenced its production on January 30, 2002. Production capacity is approximately 300,000 tons per year. Lingu currently has approximately 250 employees. Total coal reserve claimed by Lingu is approximately 8.5 million tons.
In order to ensure smooth and efficient mining operations, Lingu owns its own power supply facilities, water pump, conveyer belts and communication facilities within the coal mine area.
"The coal mine concession right owned by Lingu is one of the best in Shanxi in terms of location and its refinery facilities," said Peter Chun, CEO of NTHH. "NTHH has entered in further discussions with Lingu to complete the definitive purchase agreement as quickly as practical."
About NT Holding Corp.
NTHH, through its subsidiaries, invests in and operates companies in China and Asia that engage in energy and natural resources businesses. NTHH is based in Hong Kong and currently operates two subsidiaries in Asia: (1) Shanxi Jinhai Metal Group that engages in coking coal and steel production in the Shanxi Province of China and (2) PT Borneo Mineral that owns a 30-year coal mining right concession in Indonesia. NTHH is positioning itself to support Asia's growing need for power, energy and natural resources.
Disclaimer Regarding "Forward-Looking Statements"
This news release contains "forward-looking statements" as defined under the Federal Securities Laws. Actual results could differ materially from those projected in the forward-looking statements as a result of certain risk factors, including but not limited to: (i) adverse changes in general economic or market conditions; (ii) delays in or refusals of governmental approvals; (iii) risks associated with acquisitions and investments, including the challenges and costs of integration and coordination; and (iv) other important factors as disclosed previously and from time to time in NTHH filings with the U.S. Securities and Exchange Commission. NTHH disclaims any obligation to update any such forward-looking statements after the date of this news release.