TORONTO, Feb. 18 /CNW/ - Pacific Orient Capital Inc. (the "Company") (TSXV: AAQ.P), a capital pool company under Policy 2.4 of the TSX Venture Exchange
(the "Exchange"), announced today that the proposed Qualifying
Transaction (as that term is defined by Policy 2.4 of the Exchange)
with AlphaRx Canada Limited, previously announced on April 9, 2010, has
been terminated as the parties were not able to satisfy the closing
conditions of the proposed Qualifying Transaction. Trading in the
shares of the Company will resume on the TSX Venture Exchange at the
opening of market on Tuesday, February 22, 2011.
The Company will continue to pursue and evaluate other businesses and
assets with a view to completing a Qualifying Transaction and will make
further announcements with respect to these efforts as soon as
practically possible. The Company cannot offer any assurances that a
Qualifying Transaction will be completed.
About Pacific Orient Capital Inc.
Pacific Orient Capital Inc., a capital pool company within the meaning
of the policies of the Exchange, was incorporated October 19, 2009 and
was listed on the Exchange on March 25, 2010. Pacific Orient does not
have any operations and has no assets other than cash. Pacific Orient's
business is to identify and evaluate businesses and assets with a view
to completing a qualifying transaction under the policies of the
The TSX Venture Exchange has neither approved or disapproved the
contents of this news release. Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Pacific Orient Capital Inc.
For further information:
Chief Executive Officer
Pacific Orient Capital Inc.