TORONTO, June 27 /PRNewswire-FirstCall/ - Good Life China Corporation
www.goodlifechina.com (Pink Sheets: GLCC) is providing a further update on the
recently announced completion of the private placement. The financing
consisted of a non-brokered private placement of 225,000,000 units. Each unit
consisted of one common share, and one share purchase warrant entitling the
holder to purchase one additional common share at a price of $0.25 for two
years following the closing.
The subscription included a block of shares that will be held in escrow
pending the completion of the issuers audited statements for the subscribed
$10,000,000 placement with a European Fund. The issuer announced the actual
sum subscribed of $2,000,000.00 rather than the targeted total of $12,000,000;
as $10,000,000.00 placement with a European Fund is still subject to receipt
of the audited statements. Obviously should the issuer fail to complete the
audited statements or the $10,000,000.00 is not advanced for any reason that
block of shares would be returned back to the treasury.
The issuer felt that its previous announcement of the audited statements
requirement for the $10 million dollar funding was sufficient advice to the
markets. It now appears to the issuer, that some novice investors are being
exploited by a couple of organized groups with their own agenda. These New
York and New Jersey based organized groups continue to spew false dark
propaganda and slander while hiding behind alias, radius servers and other
tools generally used to protect their identity, for reasons that are apparent
on their face, for the benefit of their short seller employer. The issuer asks
these groups to come forward as civilized and mature adults and any legitimate
shareholder to freely come forward and identify themselves with any questions
at the following help desk link. www.minamargroup.com/helpdesk The issuer
assures its followers that any legitimate questions from a legitimate
shareholder will be answered promptly.
With both Canada Day and USA holidays next week and office closings, the
issuer will use this next week time frame as a "time out on news and
developments". The issuer sees this as an opportunity for the markets to
absorb and digest the great progress the issuer has made to date.
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 www.minamargroup.com/helpdesk
SOURCE Good Life China Corporation