Sino Resources Group Limited (stock code “223”) (“Sino Resources”) and its wholly owned subsidiary entered into a subscription agreement in respect of its subscription of 68% interest of Concord Billion Limited at the consideration amounting to US$10 Million on 14 June 2011 , with an aim to enhance its presence in the energy and resources sector. In this acquisition, our firm acted as the Hong Kong legal advisor of Sino Resources.

Sino Resources’ subsidiaries, upon completion of the shares subscription, will be granted to have the non-exclusive rights to participate in using the technology for their coal process, LiMax™ Coal Process, in connection with their proposed establishment and operation of a brown coal processing plant with an expected annual production capacity of not less than one million tonnes in Xilin Gol, Inner Mongolia. LiMax™ technology will upgrade brown coal to produce high-grade thermal coal by reducing the moisture and ash content in the brown coal, and thus will reduce the overall cost, increase energy value, reserve energy and minimize pollutants.