CALGARY, ALBERTA--(Marketwire - Dec. 28, 2007) - IVG Enterprises Ltd. ("IVG" or the "Corporation") (TSX VENTURE:IVE) announces that Mr. Lo Wing Hong will resign as a Director, President, Chairman and Chief Executive Officer of the Corporation and Mr. Yu Shuai will resign as a Director of the Corporation effective as of 31 December, 2007.
Mr. Lo and Mr. Yu have confirmed that there is no disagreement with the Board and there are no matter relating to their resignation that need to be brought to the attention of the shareholders of the Company.
The Board would like to express its sincere appreciation to Mr. Lo and Mr. Yu for their valuable contribution to the Corporation during the tenure of their service.
In addition, Mr. Zhang Huiliang was appointed as a Director and President of the Corporation effective as of 31 December, 2007.
Mr. Zhang Huiliang graduated from Zhong Xing Centre Middle School. Mr. Zhang has over 27 years experience in the PRC business. Since graduation, he has worked in various industries and held senior positions in the fields of management and manufacturing. He is the Deputy General Manger of "Zhangjagang Bao Jiang Project Construction Co Ltd". Mr. Zhang extensive experience in working various industries will benefit the Corporation. We are delighted to have Mr. Zhang joining IVG.
Further to the Company's press release on 19 September, 2007, the Company's securities remain suspended pending clarification of the Company's affairs. Currently, the Company is cooperating fully with the Exchange to comply certain requirements.The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.