/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE
TSX Venture: ABC
TORONTO, April 1 /CNW/ - Asia Bio-Chem Group Corp. (TSXV: ABC) ("Asia
Bio-Chem" or the "Company") today announced the resignation of Mr. Steven See
from the Board of Directors of the Company.
Mr. See has been a director of the company since its public listing in
June 2008 and has served as a member of both the audit committee as well as
the compensation committee during this time. The departure of Mr. See is for
personal reasons and he leaves without any difference of opinion with the
Company or with the other board members.
Mr. Zhiping Wang, President and CEO of Asia Bio-Chem stated; "We would
like to thank Steven See for his contribution to our board. His experience and
insight has been very helpful during our first year as a public company."
The Company has no plans to replace Mr. See and will continue with its
remaining five directors.
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
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
For further information:
For further information: For Corporate Information: Asia Bio-Chem Group
Corp., Suite 2105 - 130 Adelaide Street West, Toronto, Ontario, M5H 3P5,
Attention: Robert Wilson, Tel: (416) 603-7500