TORONTO, Oct. 28, 2013 /CNW/ - Asia Bio-Chem Group Corp. (TSX: ABC)
("Asia Bio-Chem") has been recently put on notice by the Toronto Stock
Exchange that it is being reviewed for eligibility for continued
listing. The exchange has a number of eligibility tests, one of which
is a minimum $2 million dollar requirement for public float. Given
that the Company's shares have traded below $.04 for 30 days, this
requirement has not been met.
The company has an obligation to maintain a market for its shares and
intends to fulfill this obligation through an application to list on
the TSX Venture or other recognized exchange.
About Asia Bio-Chem Group Corp.
Asia Bio-Chem Group, through its wholly-owned subsidiaries in the
People's Republic of China, is in the business of processing corn into
cornstarch, germ and gluten for sale into the domestic Chinese market.
From its plants in Liaoning and Heilongjiang Province, the Company has
a total processing capacity of 1.5 million tonnes of corn per year.
This news release contains certain statements that may be deemed
"forward looking statements". Forward looking statements are statements
that are not historical facts and are generally, but not always,
identified by the words "expects,", "plans", "anticipates", "believes",
"intends", "estimates", "projects", "potential" and similar
expressions, or that events or conditions "will", "would", "may",
"could" or "should" occur. Although the Company believes the
expectations expressed in such forward looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance and actual results may differ materially from those in
forward looking statements. Forward looking statements are based on the
beliefs, estimates and opinions of the Company's management on the date
the statements are made. The Company undertakes no obligation to update
these forward looking statements, except as required by law, in the
event that management's beliefs, estimates or opinions, or other
factors, should change.
SOURCE: Asia Bio-Chem Group Corp.
For further information:
For Corporate Information regarding Asia Bio-Chem:
Executive Vice President
Asia Bio-Chem Group Corp.