VANCOUVER, May 4, 2015 /CNW/ - The Board of Directors of Crimson Bioenergy Ltd. ("Crimson" – trading symbol 'CSN') has made a decision to change the nature of the Company's business. Moving forward, Crimson's new business will be to invest in technology companies in the U.S., Canada and elsewhere. The Company plans to purchase minority positions consisting of shares and/or convertible debentures of these technology companies.
Crimson is in discussions with investors regarding funding for this new business, but no agreement has been reached at this time.
The change of business will require the approval of Crimson's shareholders and the TSX Venture Exchange. The Company has requested that trading in its shares be halted until the necessary approvals are obtained.
NEITHER 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 Crimson Bioenergy Ltd.
For further information: Crimson Bioenergy Ltd., Mr. Garry Renwick, Chief Financial Officer, Phone: (604) 574-3100, Suite 202 - 5752 176th Street, Surrey, BC V3S 4C8