Catalyst Resource Group Announces New Trading Symbol and Corporate Update
May 24 2010 - 8:36AM
Catalyst Resource Group, Inc., formerly Jeantex Group, Inc.
(OTCBB:CATA) (Berlin:LEX), a company engaged in comprehensive green
technology ventures, to include asphalt, roofing materials, heating
systems, energy efficiencies and natural resources, announced that
effective today the company's common stock begins trading under the
new symbol "CATA" on the OTC Bulletin Board.
The company recently changed its corporate name from Jeantex
Group, Inc. to Catalyst Resource Group, Inc. to reflect our
exciting new scopes of business and also substantially reduced its
total amount of authorized common stock from 4,999,500,000 to
300,000,000 shares.
Catalyst Resource's new business focus will include the
implementation of the agreements with a select group of inventors
to commercialize patented innovative green technologies for
synthetic asphalt, roofing materials, heating systems, energy
efficiencies and natural resources.
The previously announced agreement to acquire an equity stake in
a South Korean coal mining company has not been consummated and the
company may continue to pursue this transaction in a different
capacity. Catalyst Resource has been actively investigating
breakthrough technologies that have proven to greatly enhance coal
mining economics and optimize efficiency in industrial heating.
Catalyst Resource has been working with a number of U.S. and
international partners to commercialize products related to the
green technologies. The company has also reached advanced
negotiations with some major end users that would greatly benefit
from the breakthrough industrial heating technologies.
Catalyst Resource Group's chairman Henry Fahman stated: "We are
delighted with the name change and the new trading symbol for the
company, as this marks a new beginning for our future. We expect to
conclude some important lucrative transactions very soon and we
will be able to provide guidance for the Company's revenue and
operating targets."
About Catalyst Resource Group, Inc.
Catalyst Resource Group, Inc. is a Florida corporation that was
originally engaged in mining of silver-lead in 1947. The Company
has gone through a number of business combinations and
restructurings and is currently focused on green construction
materials, energy and natural resources.
Safe Harbor: This news release contains forward-looking
statements that are subject to certain risks and uncertainties that
may cause actual results to differ materially from those projected
on the basis of such forward-looking statements. Such
forward-looking statements are made based upon management's
beliefs, as well as assumptions made by, and information currently
available to, management pursuant to the "safe-harbor" provisions
of the Private Securities Litigation Reform Act of 1995.
CONTACT: Catalyst Resource Group, Inc.
Henry Fahman
714-843-5455
info@cataresource.com