Amicus Capital Corp. Announces Shareholder Approval for Consolidation of its Common Shares



    
    /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE
    UNITED STATES/

    Trading Symbol: AIC.P TSX-V
    

    VANCOUVER, Sept. 23 /CNW/ - Amicus Capital Corp. ("Amicus" or the
"Corporation") announces today that it has received shareholder approval to
effect a consolidation of its common shares on a 0.8666667 for 1 basis (the
"Share Consolidation") in connection with its Qualifying Transaction with
Rainbow Trend Limited ("Rainbow"). Amicus is a capital pool company traded on
the TSX Venture Exchange (the "Exchange").

    Share Consolidation Approved

    The Corporation held a special meeting of shareholders on September 18,
2008 to consider the Share Consolidation. Shareholders representing 2,800,000
or 31.11% of the total issued and outstanding shares were present in person or
represented by proxy and entitled to vote at the special meeting. 100% of the
shares represented at the meeting were voted in favour of the Share
Consolidation.
    The Share Consolidation is expected to be completed immediately prior to
the completion of the Qualifying Transaction. Management expects the
Corporation's name will be changed to "Polo Biology Global Group Corporation"
upon the completion of the Qualifying Transaction.
    Further information regarding the Share Consolidation and the Qualifying
Transaction is available on www.SEDAR.com.

    Other

    Amicus, a capital pool company within the meaning of the policies of the
Exchange, was incorporated in May 2007 and was listed on the Exchange in
December 2007. Amicus does not have any operations and has no assets other
than cash. Amicus' business is to identify and evaluate businesses and assets
with a view to completing a Qualifying Transaction under the policies of the
Exchange.
    Trading in the common shares of Amicus has been halted on the Exchange
since April 21, 2008 and will resume trading on the completion of the
Qualifying Transaction.

    Except for statements of historical fact, all statements in this news
release, including, but not limited to, statements regarding future plans,
objectives and payments are forward-looking statements that involve various
risks and uncertainties.

    Completion of the transaction is subject to a number of conditions,
including but not limited to, TSX Venture Exchange acceptance and, if
applicable pursuant to TSX Venture Exchange requirements, majority of the
minority shareholder approval. Where applicable, the transaction cannot close
until the required shareholder approval is obtained. There can be no assurance
that the transaction will be completed as proposed or at all.
    Investors are cautioned that, except as disclosed in the management
information circular or filing statement to be prepared in connection with the
transaction, any information released or received with respect to the
transaction may not be accurate or complete and should not be relied upon.
Trading in the securities of a capital pool company should be considered
highly speculative.

    
    The TSX Venture Exchange has in no way passed upon the merits of the
    proposed transaction and has neither approved nor disapproved the
    contents of this news release.
    

    Blackmont Capital Inc., subject to completion of satisfactory due
diligence, has agreed to act as agent, and if required by the TSX Venture
Exchange as sponsor in connection with the transaction. An agreement to
sponsor should not be construed as any assurance with respect to the merits of
the transaction or the likelihood of completion.

    
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

                         FORWARD LOOKING INFORMATION
    

    Certain information in this news release is forward-looking within the
meaning of certain securities laws, and is subject to important risks,
uncertainties and assumptions. This forward-looking information includes,
among other things, information with respect to Amicus' beliefs, plans,
expectations, anticipations, estimates and intentions, such as Amicus'
acquisition of Rainbow, the change in percentage ownership of Polo JV between
Rainbow and Polo Biology, the completion of a public offering of common shares
by Amicus, Amicus' acquisition of Rainbow shares in exchange for Amicus common
shares, and the activities of Polo JV after the Acquisition. The words "may",
"could", "should", "would", "suspect", "outlook", "believe", "anticipate",
"estimate", "expect", "intend", "plan", "target" and similar words and
expressions are used to identify forward-looking information. The
forward-looking information in this news release describes Amicus'
expectations as of the date of this news release.
    The results or events anticipated or predicted in such forward-looking
information may differ materially from actual results or events. Material
factors which could cause actual results or events to differ materially from a
conclusion, forecast or projection in such forward-looking information
include, among others, risks arising from general economic conditions and
adverse industry events, risks arising from operations generally (such as the
ability to secure raw materials, arrange for manufacture of products on a
timely basis, and maintain an adequate workforce), reliance on contractual
rights such as licences and leases in the conduct of its business, reliance on
independent distributors for sales of product, reliance on key personnel,
adverse publicity concerning product quality or actions of distributors,
consumer complaints, market acceptance of the Polo products, competition for
distributors, the need to protect intellectual property and other proprietary
rights, possible failure of the business model or business plan, fluctuations
in the cost of materials and inventory, fluctuations in the exchange rate,
regulation of offshore or cross-border transactions by the government of
China, competition, environmental matters, and insurance or lack thereof.
Risks associated with doing business in China include risks arising from state
ownership, economic control measures instituted from time to time by China,
governmental intervention and influence over industry, adequacy of
infrastructure, regulations relating to capital projects and quality
standards, foreign investment, repatriation of profits and currency
conversion, income tax, land use rights, appropriation and expropriation,
permits and licences, as well as risks associated with a developing legal
system, shareholder rights and enforcement of judgments. While counsel for
Polo Biology has advised that approval from the CSRC may not be required upon
oral consultation with the CSRC, the CSRC may take a different position and
require approval for the Acquisition under recently adopted cross-border
mergers and acquisitions regulation. Any requirement to obtain Chinese
governmental approvals prior to completion may delay the Acquisition and a
failure to obtain the approvals may create uncertainties for the Acquisition,
limit Amicus' ability to inject capital into Polo JV or otherwise adversely
affect Amicus. Also, the land occupied by the facilities of Polo JV is under a
lease from a rural collective authority, is collectively owned and is
designated for agricultural or township collective enterprise use only. The
grant of industrial land use rights to Polo Biology by the rural collective
authority does not comply with Chinese land administration law and,
accordingly, the land use rights may not be enforceable. Polo Biology and its
principals have undertaken to indemnify Polo JV for any losses suffered as a
result of such irregularities. However, based on (i) the proximity of the
facilities of Polo Biology to numerous other industrial areas and to parts of
Beijing that are highly urbanized and (ii) the rezoning plan for Beijing to be
implemented in the next ten years, management of Polo JV is optimistic that
the Chinese government will not expropriate the land and will permit
industrial use of the land occupied by the Polo Biology facility. Management
also believes that Polo JV would be in a favourable position to obtain the
industrial land use rights through the appropriate legal processes should such
a change occur because of the pre-existing facilities on the land that are
occupied by Polo Biology. Amicus cautions that the foregoing list of material
factors is not exhaustive. When relying on Amicus' forward-looking information
to make decisions, investors and others should carefully consider the
foregoing factors and other uncertainties and potential events. Amicus has
assumed a certain progression, which may not be realized. It has also assumed
that the material factors referred to in the previous paragraph will not cause
such forward-looking information to differ materially from actual results or
events. However, the list of these factors is not exhaustive and is subject to
change and there can be no assurance that such assumptions will reflect the
actual outcome of such items or factors.

    
    THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS
    THE EXPECTATIONS OF AMICUS AS OF THE DATE OF THIS NEWS RELEASE AND,
    ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT
    PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY
    UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE AMICUS MAY ELECT TO, IT
    DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.
    





For further information:

For further information: Thomas Lamb, Chief Executive Officer,
Telephone: (604) 682-1943, Facsimile: (604) 682-5596, E-mail:
tdlamb@gmail.com

Organization Profile

AMICUS CAPITAL CORP.

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