VANCOUVER, British Columbia, June 16 /PRNewswire-FirstCall/ -- AGA Resources, Inc. (BULLETIN BOARD: AGAO) , a publicly traded mineral exploration company, is pleased to announce that it has signed an Acquisition Agreement with a B.V.I. company to become involved in a Media and Entertainment Joint Venture in China.

On June 14, 2006, the Company signed an Agreement with Triumph Research Limited ("Triumph"), a B.V.I. company, and Beijing Tangde International Film and Culture Co., Ltd ("Tangde"), a Chinese company. According to the Agreement, the Company will issue 3,209,000 shares of common stock in exchange for all of the issued and outstanding shares of common stock of Triumph, by which Triumph will become a wholly owned subsidiary. Triumph has signed a Joint Venture Agreement with Tangde pursuant to which Triumph will invest RMB 5.1Million (about US$600,000) into the Joint Venture and control 51% ownership of the JV. Triumph will also hold three seats out of five on the board of the JV, including Chairman of the Board of Directors. Tangde will invest RMB 4.9 Million into the Joint Venture and control 49% of the ownership. The Joint Venture will mainly invest in the media and entertainment industry in China.

As part of the transaction, the Company will conduct a due diligence investigation of Triumph prior to the Closing. In addition, the Company can elect not to deliver the 3,209,000 new investment shares if Triumph has not funded the RMB 5.1 Million to the JV. After the Closing, the Company intends to participate in the JV through its wholly owned subsidiary, Triumph, and also to continue its exploration of mineral properties in British Columbia, Canada.

Source: PR Newswire