CRS Electronics Inc. announced the entering into of a binding agreement for a private placement by the company to CJL Holding Inc., a corporation related to Mr. Chang Jiang Wu, of 30,400,548 common shares of the company at a price of $0.2921 per common share for total aggregate proceeds to the company of $8,880,000 in reliance on the minimum amount investment exemption. As part of the transaction, Mr. Wu will also become the Executive Chairman of the company.