CRS Electronics Inc. announced that the proposed private placement by the company to CJL Holding Inc., which closed in escrow on May 24, 2012 has closed upon receipt of final approval by the TSX Venture Exchange. The Shares are subject to a statutory hold period of four months which expires on October 9, 2012. Upon closing, Mr. Chang Jiang Wu and Mrs. Lian Wu were appointed to the board of directors of the company and Mr. Wu was appointed the Executive Chairman of the company. Al Hussey and Paul Haber have stepped down as directors of the company but continue as officers of the company. Additionally, once TSX Venture Exchange approval has been obtained for Ms. Jennifer Yan Li, CRS will immediately appoint her as Chief Administrative Officer of CRS.