Early Warning Report Issued Pursuant to National Instrument 62-103 in Relation to GreenStar Agricultural Corporation
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 08/01/13 -- GreenStar Agricultural Corporation (TSX VENTURE: GRE) (the "Corporation"). This press release is being disseminated as required by National Instrument 62-103 The Early Warning System and Related Take Over Bid and Insider Reporting Issues in connection with the filing of an early warning report (the "Early Warning Report") regarding the acquisition of securities of the Corporation by Bliss Time Limited ("Bliss Time") of Tortola, British Virgin Islands.
On July 30, 2013 Bliss Time acquired ownership over 2,219,080 special warrants of the Corporation. Each special warrant will be convertible into one common share of the Corporation for no additional consideration at any time provided that public shareholders as determined by the TSX Venture Exchange hold at least 20% of the total outstanding post-consolidation common shares after the conversion. Prior to the purchase, Bliss Time held 3,724,994 common shares and 6,027,816 special warrants. As the result of this purchase, Bliss Time holds a total of 3,724,994 common shares and 8,246,896 special warrants. If all of the special warrants are exercised, Bliss Time would hold a total of 11,971,890 common shares, representing 36.92% of the then issued and outstanding common shares of the Corporation on a fully diluted basis.
Mr. Guan Lianyun is the sole director and officer of the Offeror and Chairman, President and CEO of the Corporation. Mr. Guan also has an option to acquire all outstanding shares of the Offeror pursuant to an option agreement dated March 30, 2010 between Mr. Guan and Ms. Lucy Xia assigned from Ms. Xia to Mr. Ding Xiasun on August 10, 2012 (the "Bliss Time Option Agreement").
Bliss Time has advised the Corporation that there is no agreement, arrangement, commitment, or understanding with respect to the voting of any of its securities of the Corporation other than the Bliss Time Option Agreement. The special warrants were acquired for investment purposes and Bliss Time may increase or decrease its beneficial ownership or control depending on market or other conditions.
A copy of the Early Warning Report may be found on .
About GreenStar Agricultural
GreenStar operates two main divisions, agricultural and food processing. The agricultural division is involved in the cultivation and harvesting of agricultural products such as fresh fruit and vegetables, for sale either directly as fresh fruit and vegetables or canned, and sold overseas and domestically. The food processing division is primarily involved in the processing of canned food, which includes canned tomato paste, canned boiled bamboo shoots, canned oranges, canned peaches and various other types of fruits and vegetables.
GreenStar has been operating for over 19 years. Through the application of science and technology in production, quality control and assurance, and business operations and management, GreenStar has focused on maintaining product and reputational excellence with a high standard of food quality. Key assets include a well established management team, modern production facilities, and a close partnership with local farmers.
GreenStar Agricultural Corp. is listed on the TSX Venture Exchange under the symbol "GRE".
Neither the 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 news release.
Caution Regarding Forward-Looking Information:
Certain statements in this press release may constitute ''forward looking'' statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements.
When used in this press release, such statements may use such words as ''may'', ''will'', ''expect'', ''believe'', ''plan'' and other similar terminology. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. Forward looking information in this press release includes the special committee's plan to retain Collins Barrow, management's expectations on the work scope and work schedule for Collins Barrow, management's plans for the acquisition of the tomato pulp producer and the expected timing for the acquisition, and the expected timing for the release of second quarter financial results. These forward looking statements involve a number of risks and uncertainties. Some of the factors that could cause actual results to differ materially from those expressed in or underlying such forward looking statements are the effects of, as well as changes in: international, national and local business and economic conditions; political or economic instability in the Company's markets; competition; legislation and governmental regulation; and accounting policies and practices. The foregoing list of factors is not exhaustive. Please see the Company's annual MD&A dated April 25, 2013, available on , for a more detailed description of the risk factors. The Company undertakes no obligation to update publicly or revise any forward looking information, whether a result of new information, future results or otherwise, except as required by law.
Contacts:
GreenStar Agricultural Corporation
Robert Macdonald
(416) 849 3858
Investor Cubed Inc.
(647) 258-3311, (888) 258-3323
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 01.08.2013 - 13:30 Uhr
Sprache: Deutsch
News-ID 283967
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Farming
Diese Pressemitteilung wurde bisher 300 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Early Warning Report Issued Pursuant to National Instrument 62-103 in Relation to GreenStar Agricultural Corporation"
steht unter der journalistisch-redaktionellen Verantwortung von
China Green Star Agricultural Corporation (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
