Jade Art Group Announces a Further US$11.2 Million Expansion of Jade Sales.

Business Wire | February 27, 2008 | Copyright

NEW YORK & JIANGXI, China -- Jade Art Group Inc. (OTCBB: JADG) announced today that Jiangxi SheTai Jade Industrial Co., Ltd. ("JST"), its wholly-owned subsidiary and owner of 90% of the distribution rights for the SheTai Jade mine, one of the largest jade mines in China by reserves, signed a sales agreement for the distribution of raw jade to QuanZhou TianXiaHuiCui Jade Company Ltd. ("QZTX").

The agreement commits QZTX to purchase a total of 3,500 tons of raw jade of various qualities from JST for US$11.2 million over the next year. QZTX is responsible for shipping ...

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