Asia Bio-Chem Group Corp. announces the results of its Annual General Meeting



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

    TSX Venture: ABC
    

    TORONTO, May 28 /CNW/ - Asia Bio-Chem Group Corp. (TSXV: ABC) ("Asia
Bio-Chem" or the "Company") today announced the results of its annual and
special meeting (the "Meeting") of shareholders held on May 27, 2009.
    All five management nominees were elected to serve as directors of the
Company. Each of Zhiping Wang, Robert Wilson, Brent Majkrzak, William Thomson
and Jeremy Kendall were all elected as directors to serve for the ensuing
year. In addition, the shareholders of the Company duly approved the
appointment of Manning Elliott LLP as the Company auditor and the adoption of
the Amended and Restated 2009 Incentive Stock Option Plan as described in the
Company's Proxy Circular dated April 16, 2009. Under the Amended and Restated
2009 Incentive Stock Option Plan, an aggregate of 11,516,554 common shares are
reserved for issuance upon the exercise of stock options granted or to be
granted.
    The Company further announces that it has granted an aggregate of 975,000
stock options pursuant to its Amended and Restated 2009 Stock Option Plan to
certain directors and officers of the Company. The options are exercisable for
5 years at an exercise price equal to the closing price of the shares as of
the date of this announcement.

    About Asia Bio-Chem Group Corp.

    Asia Bio-Chem Group, through its wholly-owned subsidiary in the Peoples
Republic of China ("PRC") is in the business of manufacturing cornstarch and
related products. From its plant in Liaoning Province, the Company produces
approximately 270,000 tonnes of cornstarch, corn germ, gluten and fiber per
year for sale into the domestic market in the PRC. The Company is currently
constructing a second facility in Heilongjiang Province which, upon
completion, is expected to triple production capacity.

    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.

    THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES,
AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL
ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES
HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES
ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED
OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT
THEREFROM.

    THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
    RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
    RELEASE.





For further information:

For further information: Asia Bio-Chem Group Corp., Suite 2105 - 130
Adelaide Street West, Toronto, Ontario, M5H 3P5, Attention: Robert Wilson,
Tel: (416) 603-7500

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Asia Bio-Chem Group Corp.

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