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GLCC News siana Corp (ASIC) Signs LOI To Sell Its IEXPAY Di...
Thursday, June 5, 2008 7:01 AM

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News for 'GLCC' - (Asiana Corp (ASIC) Signs LOI To Sell Its IEXPAY Division)


BEIJING, China, June 5, 2008 /PRNewswire-FirstCall via COMTEX/ -- Asiana
Corporation (ASIC) www.asianacorporation.com is pleased to announce that it has
signed a letter of intent (LOI) with Good Life China (GLCC.PK) to sell its
IEXPAY division on an all cash basis. Mr. Xu Asiana CEO said, "This is an
exciting time for us. This sale does not include our on line Chinese
entertainment ticketing agency 1 800 buy piao http://www.1800buypiao.com which
works similar to Ticket Master and other on line entertainment ticketing
Companies.

"In other company updates, the issuer should be in a position to file the legal
opinion towards obtaining the current issuer status from Pink Sheets by the end
of this week. The management expects to receive approval from pink sheets, and
to obtain the current status by July 15, 2008. The issuer has also heard back
positively from its market maker regarding its 15c211 filings, which when
completed filed, and approved will elevate the issuer to being a solicited
issuer. The "Warning Unsolicited" quotation will be removed from the issuer's
quote on pink sheets. The management and its transfer agent Heritage Trust have
also submitted certified copies of all documents requested by the issuer's
market maker. "These are the last few steps as we await for a final approval
from NASD." Mr Xu added, "We are certainly eager to close this deal; however, we
do not wish to disturb or disrupt the obtaining of the solicited stock status.
We intend to consult with our advisers and attempt to expedite these
transactions as much as possible."

Safe Harbor statement under the Private Securities Litigation Reform Act of
1995: Certain forward information contained in this release contains
forward-looking statements that involve risk and uncertainties, including but
not limited to, those relating to development and expansion activities, domestic
and global conditions, and market competition.

SOURCE ASIANA Corporation



www.prnewswire.com


Copyright (C) 2008 PR Newswire. All rights reserved

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INDUSTRY KEYWORD: FIN

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