Good Life China (GLCC) Further Reduces Outstanding, The Float And The Short ListLast update: 6/18/2008 4:45:00 PM
TORONTO, June 18, 2008 /PRNewswire-FirstCall via COMTEX/ -- Good Life China Corp Pink Sheets: GLCC.PK is pleased to announce after the market has closed that it was successful in its task to further reduce its outstanding share structure, the float and the short sellers covering their position. The issuer intends to post the true certified copy of its outstanding share structure from the transfer agent Heritage Trust on pink sheets.com shortly. The issuer successfully reduced its float count from 71.5 million to about 43.3 million. This was achieved by recently announced warrants and options. The issuer has also identified its source of shorting, as offshore. The issuer's IR firm has been on the telephone contacting many broker-dealers advising them of how it wants its security managed. The issuer is using this opportunity to rescind its European only release sent out today. The issuer has no plans on securing any "secondary financing" and extends its gratitude to all the offers. The issuer today also passed a resolution to reduce its authorized shares to 200 million shares should it deem necessary, without further notice.
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 Good Life China Corporation
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