Oct 08, 2008 -- MonArc Corporation,
(PINKSHEETS: MONA) is pleased to announce that it will be distributing a stock dividend in recently spun-off Sino Medica www.sinomedica.com to shareholders who have continuously held company stock since February 1, 2008.
Sino Medica is an operating subsidiary spin off to the Emerald Capital Group Corp., a Nevada company recently acquired by Mr. Xiaohua Gong a Chinese national. Sino Medica trades on the Frankfurt Exchange (ticker symbol 3EM). MONA is scheduled to receive about $6 million dollars worth of stock in 3EM.
Corporate Secretary Garr Winters commented, "Just to recap this stock will be distributed to qualified shareholders, and is in addition to the 20 cent per share cash dividend announced October 7, 2008, and in addition to approximately 0.006 cent a share. I think are shareholders will be very pleasantly surprised when they receive their LandStar dividends. That stock has risen based on the recent news to date, and is currently well above the price range used to value the deal. We are bound and determined to deliver value to our shareholders. Both Sino Medica and Hubei Chuguan are very serious multi-million dollar companies. We are not talking about development stage companies who have a good business plan but have yet to achieve proof of concept. These guys are generating significant revenue, and have assets that are in the millions of dollars.
I, for one, am really excited about LandStar and their Chuguan operating subsidiary. They are plugged into the Chinese petro-chemical industry with products and services that have been developed in-house, generating new patents, and are a Chinese company that delivers something all players in the industry consider part of standard operating procedures. I'm pleased to serve on the board of that corporation."
MonArc still has plans to issue 1 or possibly 2 additional stock dividends in the fourth quarter as it spins off its remaining operating subsidiaries for which deals are in process. The issuer intends to have the Transfer Agent release the dividends in the street's name with the restrictive legend removed in accordance with the SEC guidelines of the same.
Lets all get along
