HONG KONG, April 23, 2013 (GLOBE NEWSWIRE) -- Great China Mania Holdings, Inc., (OTCBB:GMEC) (the "Company" or "GMEC") announces it has entered into an agreement with an individual non-affiliate third party to sell its retail business segment, Great China Games Limited ("GCG"), in exchange for consideration of 3,000,000 shares of GMEC. GMEC will cancel the 3,000,000 shares it receives from the non-affiliate third party upon completion of transaction and therefore reduces the number of shares outstanding of the Company. More details can be found on the current report on Form 8-K filed with the SEC (http://www.sec.gov/Archives/edgar/data/1382112/000144586613000452/0001445866-13-000452-index.htm).
GCG reported a net segment loss of $51,860 from continuing operations for the year ended December 31, 2012.
"One of our major objectives in 2013 is to restructure our business portfolio and discontinue unprofitable business segments," said Roy, CEO of GMEC. "Looking forward we plan to complete more restructuring to better improve our profitability."
About Great China Mania Holdings Inc.:
http://www.greatchinamania.com
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