Imperial Ginseng Products Ltd. Announces Purchase of Drying Facility and Equipment
2011年9月16日 - 6:22AM
Marketwired
Imperial Ginseng Products Ltd. (TSX VENTURE: IGP)(TSX VENTURE:
IGP.PR.A) (the "Company") announces that on September 14, 2011, the
Company, through its wholly owned subsidiary, Canadian Imperial
Ginseng Ontario Ltd., entered into an asset purchase agreement (the
"Agreement") with Chai-Na-Ta Farms Ltd. Under the Agreement, the
Company will acquire a ginseng drying and processing facility and
certain other equipment in Ontario for a total consideration of
$1.85 million (the "Purchase Transaction"). The Purchase
Transaction is expected to be completed on January 16, 2012 (the
"Closing Date").
Pursuant to the terms of the Agreement, a deposit of $295,000
will be retained in trust by the solicitors of the seller until the
Closing Date. In the event that the Purchase Transaction does not
go through because of any events not satisfied under the conditions
of the Agreement, the deposit, with the exception of an $80,000
non-refundable amount, will be returned to the Company.
ON BEHALF OF THE BOARD OF DIRECTORS OF IMPERIAL GINSENG PRODUCTS
LTD.
Stephen McCoach, Chief Executive Officer and Director
Neither 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 release.
Contacts: Imperial Ginseng Products Ltd. Stephen McCoach Chief
Executive Officer and Director (604) 689-8863 (604) 689-8892 (FAX)
info@imperialginseng.com www.imperialginseng.com
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