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Wednesday, July 23, 2008 11:35:18 AM
BEIJING, China, July 23 /PRNewswire-FirstCall/ -- http://www.goodlifechina.com/ Pink Sheets :GLCC
The company today announced that it is proceeding further with its exploration of a planned merger with a China based meat processing plant. Mr. Yang, a company spokesperson, said "This is a substantial company with over 40,000 herds. They have assets of approximately 10 million USD, very few liabilities and a bottom line of 2.5 million dollars. We will continue with our due diligence on this company and report back as soon as possible."
Ms. Doi Mai Jia, the company CEO, added "Recently we made several filings on Pink Sheets that range from a buy out, to a merger with an OTCBB company, to Hoarizi returning to being a private company. I want to bring to everyone's attention that these are some of the options presented to us, and obviously we can not fulfill every single one of them, as some are counterproductive. We want to be as transparent to our shareholders and keep them interactively involved however before any such action can take place we will need approval from the Chinese government who are also our majority shareholders as well. Obtaining an approval in China is no different then a fully reporting issuer in USA completes a filing in USA, and waits for the USA authorities for a comment to proceed, or approve. We went through this same process with Pink Sheets when we were obtaining a CURRENT ISSUER status from the STOP ranking. This is a procedural matter and we expect to hear back shortly."
The issuer has retained the services of a large Chinese based law firm Guanche Lawfirm and the services of Mr. Frank Shi to assist it in this and other tasks pertaining to its filings and how they interact with the Chinese laws.
The common shares of the Company are currently dually listed in the USA Pink Sheets (symbol GLCC.PK) and the Frankfurt Stock Exchange (Xe:L9X). The issuer is in good standings with Pink Sheets and ranked as a "Current Information" filer with its security.
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.
CONTACT http://www.minamargroup.com/helpdesk SOURCE Good Life China Corporation
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not Pink OTC Markets Inc. are solely responsible for the accuracy of such news releases.
CONTACT: http://www.minamargroup.com/helpdesk
DATASOURCE: Good Life China Corporation
CONTACT: http://www.minamargroup.com/helpdesk
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