Shanghai Yuankai Group Co., Ltd. acquired 53.64% stake in CN Resources Inc. (OTCPKK:CNRR) from Oliver Xing for $2.1 million on April 25, 2014. Shanghai Yuankai Group Co., Ltd. will acquire 14 million shares of CN Resources Inc. at $0.15 per share. The transaction will be funded from own account of Shanghai Yuankai Group Co., Ltd. With the transaction, CN Resources Inc. will increase its Board of Directors to three persons and Shanghai Yuankai will be entitled to nominate two individuals to the Board of Directors.

Shanghai Yuankai Group Co., Ltd. completed the acquisition of 53.64% stake in CN Resources Inc. (OTCPKK:CNRR) from Oliver Xing on April 25, 2014.