TORONTO, March 27 /CNW/ - The common shares of HMZ Metals Inc. have been
approved for listing on CNQ. There are approximately 110 million common shares
outstanding with a public float of approximately 92.5 million shares.
As part of its initial public offering, the Company acquired all of the
outstanding shares of Biogan BVI. As of the date hereof and in light of a long
running dispute with the Company's joint venture partner, the Company is
involved in legal proceedings and an arbitration action in the PRC. The
Company's business strategy has necessarily evolved to focus on a resolution
of its current dispute in which the Company is seeking a return of invested
capital, it's pro rata share of profits to date and damages in an amount to be
As these matters are currently the subject of on-going legal proceedings
in the PRC, the Company is limited in the detail it can provide at this time.
However, it is anticipated that court proceedings and arbitration proceedings
will be completed within the first half of 2008 and there is the potential
that the arbitration process may be superseded by the court proceedings.
The longer-term strategy of the Company is to proceed with additional new
metals and metal processing projects.
Listing and disclosure documents for HMZ will be available in the CNQ
Listings Disclosure Hall
Trading Date: Monday, March 31, 2008
CUSIP: 40425M 10 4
Applications are being accepted for Market Makers for "HMZA".
For further information:
For further information: If you have any questions or require further
information please contact Radhika Ramkarran at (416) 572-2000 X 2435 or