TSX Venture Exchange Symbol: CIV.P
TORONTO, March 3 /CNW/ - Chrysalis Capital IV Corporation (TSXV:CIV.P)
("Chrysalis") is pleased to announce that on Friday, February 29, 2008, it
completed its previously announced acquisition of Homeland Energy Corp.
("Homeland Corp.") by way of a merger (the "Merger") of Homeland Corp. with
Chrysalis Capital IV (BVI) Corporation, a wholly-owned subsidiary of
Chrysalis. The Merger constitutes Chrysalis' qualifying transaction (the
"Qualifying Transaction") pursuant to the policies of the TSX Venture Exchange
Prior to the Merger, Chrysalis consolidated its common shares on a one
(1) for two (2) basis and Homeland Corp. split its common shares on a four (4)
for one (1) basis. Upon the Merger, Chrysalis then issued one (1) common share
for each common share of Homeland Corp. issued and outstanding immediately
prior to the Merger. The outstanding options, warrants and other convertible
securities of Homeland Corp. are exercisable for common shares of Chrysalis
based on the same exchange ratios. Chrysalis has also filed articles of
amendment to change its name to Homeland Energy Group Ltd. ("Homeland Group").
Immediately prior to the Merger, Chrysalis took up and paid for
107,931,920 common shares of Homeland Corp. that were validly deposited
pursuant to the previously announced share exchange offer by Chrysalis.
As a result of the completion of the Qualifying Transaction, Homeland
Group has 145,001,117 common shares issued and outstanding. Assuming that all
of the outstanding options and warrants are exercised, 161,661,259 common
shares of Homeland Group will be issued and outstanding on a fully diluted
The board of directors of Homeland Group now consists of Tom Griffis,
Stephen Coates, Avrom Howard, Neil McLoughlin, Laurence Curtis and Robert
Munro. Stephen Coates has been appointed President and Chief Executive Officer
of Homeland Group, Stephen Woodhead has been appointed Chief Financial Officer
and Corporate Secretary of Homeland Group and Naomi Nemeth has been appointed
Vice President, Investor Relations of Homeland Group.
A Filing Statement dated February 20, 2008 prepared in accordance with
the requirements of the Exchange in connection with the Qualifying Transaction
has been filed with the Exchange and applicable Canadian securities regulators
on SEDAR, and is available to be publicly accessed at www.sedar.com.
Subject to receiving final approval from the Toronto Stock Exchange (the
"TSX"), Homeland Group anticipates that its common shares will commence
trading on or about Wednesday, March 5, 2008 on the TSX under its new trading
For more information concerning Homeland Energy, please visit
ABOUT HOMELAND ENERGY CORP.
Homeland Energy Corp. is a private company focused on energy exploration
and development in Southern Africa. Homeland owns three advanced
development/predevelopment coal projects in South Africa and a number of
early-stage exploration properties in the provinces of Mpumalanga and Kwa-Zulu
Natal. The Company is currently negotiating to acquire interests in a number
of additional coal properties in eastern South Africa and neighbouring
countries. Homeland is also significant shareholder in Homeland Uranium Inc.,
a Canadian uranium exploration and development company focused on projects in
Niger and the United States.
ABOUT CHRYSALIS CAPITAL IV CORPORATION
Chrysalis Capital IV Corporation is The Chrysalis Capital Group's
("TCCG") fourth capital pool company ("CPC"). TCCG is focused on generating
superior shareholder returns through the creation of a series of unique CPCs.
To date, TCCG has created five Chrysalis branded CPCs and has assisted in the
creation of three additional CPCs under TCCG's Partners Program. TCCG
completed its most recent Qualifying Transaction (via Chrysalis Capital III
Corporation) with U.S. Silver Corporation (TSXV: USA) on December 28, 2006.
For more information about The Chrysalis Capital Group, please visit
This news release contains projections and other forward-looking
statements regarding future events. Such statements are predictions, which may
involve known and unknown risks, uncertainties and other factors, which could
cause the actual events or results and objectives to differ materially from
The TSX Venture Exchange has in no way passed upon the merits of the
Qualifying Transaction and has neither approved nor disapproved the contents
of this press release.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: concerning Chrysalis, please contact: Marc
Lavine, Chairman and Chief Executive Officer, Robert Munro, President and
Chief Financial Officer, Chrysalis Capital IV Corporation, T: (416) 352-5763,
E: firstname.lastname@example.org, W: www.tccg.ca; For more information concerning Homeland,
please contact: Naomi Nemeth, VP, Investor Relations, T: (416) 506-1979, E:
email@example.com; or Stephen Coates, President and Chief
Executive Officer, T: 011 44 20 7016 9881, E: firstname.lastname@example.org;
Please visit: www.homelandcorp.com