TORONTO, Aug. 27 /CNW/ - G.T.M. Capital Corporation ("GTM") is pleased to announce that it has received conditional approval from the TSX Venture Exchange (the "Exchange") relating to the previously announced proposed reverse takeover (the "Transaction") of Feronia Inc. ("Feronia"). The Transaction is currently scheduled to close on or about September 9, 2010. A Listing Application prepared in accordance with the requirements of the Exchange in connection with the Transaction has been filed with the Exchange and the applicable Canadian securities regulators on SEDAR and is available at www.sedar.com.
ABOUT FERONIA INC.
Feronia is a large-scale commercial agriculture company engaged in identifying, acquiring and consolidating farm land and operations in Africa with the intention of bringing them back into production using modern agricultural techniques and practices. Feronia's management team is comprised of senior agriculturalists with extensive experience in managing both plantations and large-scale mechanized farming operations in frontier and emerging markets. Feronia is strongly committed to sustainable agriculture, environmental protection and providing support for local communities. For more information please see www.feronia.com.
ABOUT G.T.M. CAPITAL CORPORATION
GTM is a reporting issuer in the provinces of Alberta, British Columbia and Saskatchewan. At present, it does not own any assets other than cash or cash equivalents. To date, GTM has not conducted any active business operations.
Completion of the proposed transaction is subject to a number of conditions, including but not limited to final acceptance from the Exchange. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the Listing Application, any information released or received with respect to the proposed transaction may not be accurate or complete and should not be relied upon.
The Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press 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.
Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. GTM assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to GTM. Additional information identifying risks and uncertainties is contained in GTM's filings with the Canadian securities regulators, which filings are available at www.sedar.com.
SOURCE G.T.M. CAPITAL CORPORATION
For further information: For further information: Daniel Friedman, Chief Executive Officer, G.T.M. Capital Corporation, t: 630.530.0766, e: firstname.lastname@example.org; Ravi Sood, Chairman (non-Executive), Feronia Inc., t: 416.362.6153, e: email@example.com