TORONTO, March 10 /CNW/ - Birch Hill Equity Partners Management Inc., as general partner of each of Birch Hill Equity Partners III, LP, Birch Hill Equity Partners (US) III, LP, Birch Hill Equity Partners (SC) III, LP and Birch Hill Equity Partners (Entrepreneurs) III, LP, (collectively, the "LPs"), announced today that pursuant to the completion of the amalgamation of BIOX Corporation and JJR IV Acquisition Inc. on March 1, 2010 (the "Amalgamation"), and the subsequent listing of the common shares (the "Shares") of the newly formed BIOX Corporation ("BIOX") on the Toronto Stock Exchange, the LPs received 7,475,000 common shares of BIOX on March 2, 2010 in exchange for their existing shares in the original BIOX Corporation. Based on 45,597,074 Shares outstanding as a result of the Amalgamation, the Shares held by the LPs represent approximately 16.4% of the issued and outstanding shares of BIOX. The Shares were acquired through the TSX Stock Exchange.
The LPs hold the Shares for investment purposes, and may acquire further Shares, or dispose of its holdings of Shares, both as investment conditions warrant. The LP may seek to influence decisions of management and the directors of BIOX including, without limitation, by seeking representation on the board of directors or otherwise. The LPs may also determine to approach BIOX and ask it to explore strategic alternatives with a view to the enhancement of shareholder value. At the present time, the LPs do not intend to acquire control of the business of BIOX or to acquire 20% or more of any class of outstanding voting or equity securities of BIOX.
BIOX is listed on the TSX Stock Exchange under the symbol "BX".
SOURCE BIRCH HILL EQUITY PARTNERS MANAGEMENT INC.
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