China Minerals Technologies, Inc. (Formerly Point Acquisition Corporation) Announces Name Change
June 13 2007 - 10:26AM
PR Newswire (US)
GONGYI, China, June 13 /Xinhua-PRNewswire-FirstCall/ -- Point
Acquisition Corporation ("Point Acquisition") (OTC:PAQN) (BULLETIN
BOARD: PAQN) announces its official name change to China Minerals
Technologies, Inc. ("CMT"). The company also changed its ticker
symbol to OTC Bulletin Board: CMIT (from OTC Bulletin Board: PAQN),
effective June 13, 2007. CMT is a mineral based manufacturer whose
products include monolithic refractories, ceramics and fracture
proppant. Monolithic refractories serve as heat resistant
protective linings in industrial furnaces and other heavy machinery
used in the steel, iron, cement, glass and aluminum industries.
Ceramic products are heat and erosion resistant which are used to
house high voltage switches and fuses and to transfer liquids,
solids and gases. Fracture proppant is used in operating oil wells
to release trapped oil allowing it to be extracted to the earth's
surface. CMT conducts business through its Chinese based
subsidiaries Henan Gengsheng Refractories Co., Ltd., Zhengzhou
Duesail Fracture Proppant Co., Ltd. and Henan Gaowen Materials Co.,
Ltd. FORWARD LOOKING STATEMENTS This release may contains certain
"forward-looking statements" relating to the business of China
Minerals Technologies, Inc. and its subsidiary companies These
forward looking statements are often identified by the use of
forward-looking terminology such as "believes, expects" or similar
expressions. Such forward looking statements involve known and
unknown risks and uncertainties that may cause actual results to be
materially different from those described herein as anticipated,
believed, estimated or expected. You should not place undue
reliance on these forward-looking statements, which speak only as
of the date of this press release. The company's actual results
could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in the company's periodic reports that
are filed with the Securities and Exchange Commission and available
on its website ( http://www.sec.gov/ ). All forward-looking
statements attributable to China Minerals Technologies, Inc. or to
persons acting on its behalf are expressly qualified in their
entirety by these factors other than as required under the
securities laws. China Minerals Technologies, Inc. does not assume
a duty to update these forward- looking statements. For more
information, please contact: Mr. Denis Tontodonato Tel:
+1-704-562-0082 DATASOURCE: China Minerals Technologies, Inc.
CONTACT: Mr. Denis Tontodonato of China Minerals Technologies,
Inc., +1-704-562-0082
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