Mar 15 2013
Asia Packaging Group Inc. (the "Company") is pleased to announce that it has received conditional acceptance from the TSX Venture Exchange (the "Exchange") for the acquisition (the "Acquisition") of all of the issued and outstanding share capital of Jiayuan Investment Limited. ("Jiayuan") as previously announced on November 28, 2012.
Jiayuan is a BVI holding company that owns all of the issued and outstanding share capital of Yuanxing Holding (Hong Kong) Ltd., which owns all of the issued and outstanding share capital of Yuanxing Package (China) Co., Ltd.
The final acceptance of the Exchange for the Acquisition is subject to, among other things:
- Receipt of satisfactory final documentation (including final sponsor report);
- Shareholders' approval of the Acquisition by way of consent, with Mr. Wenge Hong abstaining;
- Filing of satisfactory disclosure documents (including satisfactory financial statements) on SEDAR; and
- Completion of background search for one of the directors.
The Company anticipates that it will be filing a Filing Statement as the disclosure document for the Acquisition on SEDAR in a few days. In the meantime, the Company will also make request to the Exchange for resumption of trading of its shares on the Exchange.
The Company also announces the postponement of its annual general meeting from March 15, 2013 to April 26, 2013.