FWK

TORONTO, Feb. 1 /CNW/ -- TORONTO, Feb. 1 /CNW/ - Liuyang Fireworks Limited (TSX-V: FWK) (the "Company"), a leading China-based manufacturer of consumer fireworks, today is pleased to announce the successful closing of a non-brokered private placement offering (the "Offering"). The Company raised an aggregate amount of $2,166,066, comprised of 12,033,700 units (the "Units") priced at $0.18 per Unit. Each Unit consists of one common share and one-half common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant entitles the holder to purchase one common share at a price of $0.40 per share within 24 months following the date of issuance. All shares issued pursuant to the Offering are subject to a four-month hold period expiring on June 2, 2011, and a finders' fee of $107,565.30 was paid in respect of the Offering. Net proceeds from the Offering will be used by the Company to acquire targeted wholesalers and expand its national sales network. About Liuyang Fireworks Limited Liuyang Fireworks Limited is a leading China-based manufacturer of consumer fireworks that are distributed domestically and in more than 15 countries in North America, South America and Europe. The Company has more than 16 years of experience in the fireworks industry and is a supplier to the world's top five fireworks wholesalers and retailers. Liuyang's ISO9001-certified manufacturing facilities are located in the Liuyang area of Hunan, China where more than half of the world's fireworks are produced. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable securities legislation. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/February2011/01/c7098.html pJacky Longbr/ Chief Financial Officerbr/ Liuyang Fireworks Limitedbr/ Tel : 416-613-0208 ext 206br/ a href="mailto:jackylong@farocean.com"jackylong@farocean.com/a/p

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