VANCOUVER, May 17 /CNW/ - IND DairyTech Limited ("IND" or the "Company") (TSXV 'IND') today announced that it has entered into an investor relations agreement with Stone Communication Services Limited ("SCS") of Toronto, Ontario (the "Agreement").
SCS specializes in the execution of tailored, strategic communication program for emerging companies and will introduce IND to Stone Communications' network of brokers, analysts and portfolio managers. SCS is a wholly owned subsidiary of Stone Investment Group.
The Agreement has an initial term of one year, pursuant to which SCS will provide investor relations services to IND including the development of investor relations strategies relating to advertising programs and investor awareness and fostering broker and analyst interest in the Company's activities. As compensation for its services, SCS will receive a retainer fee of $4,000 per month, reimbursement for related expenses and an aggregate of 800,000 options to purchase common shares in the capital of IND pursuant to the terms of IND's stock option plan (the "Options"). 250,000 Options will vest immediately at $0.60, additional 200,000 Options will vest three months thereafter with an exercise price of $0.90 and $1.20 with a remaining 150,000 Options at $1.50 respectively.
On May 14, 2010, Paul Haber was appointed as Vice Chairman of the BOD to continue his lead role in the BOD.
Jesse Zhu, CEO and Chairman of IND Dairytech Ltd. said, "We are very pleased to have Stone Communications working with us to increase the exposure of IND Dairytech Ltd. throughout the investment community." Zhu adds, "Stone has been following us for some time, so they are very familiar with our company, our operations and particularly our unique story, and quite capable of presenting our story to existing and prospective investors."
About IND Dairytech Ltd.
IND, through its operating subsidiaries, is an emerging raw milk and Holsteins producer in China that is seeking to become a leading provider of high quality raw milk and Holsteins to the Chinese dairy industry. To meet China's increasing demand for dairy products, the Company is using Canadian cattle genetics and North American farming practices to establish and develop its dairy herd in China.
The Company plans to develop its herd in China through the use of advanced breeding techniques employing Canadian Holstein embryos that it intends to use to impregnate surrogate cows. These embryos have been created through in vitro fertilization using sexed semen to achieve an approximate 90% female birth rate. The use of these advanced breeding techniques is expected to allow the Company to rapidly expand its herd. The use of Canadian Holstein embryos also provides a practical solution to China's ban on the import of live Canadian cattle.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING INFORMATION
Certain information set out in this News Release constitutes forward-looking information, which may include information relating to estimates of sales and revenue of IND. Forward-looking statements (often, but not always, identified by the use of words such as "expect", "may", "could", "anticipate" or "will" and similar expressions) may describe expectations, opinions or guidance that are not statements of fact and which may be based upon information provided by third parties. Forward-looking statements are based upon the opinions, expectations and estimates of management of the Company as at the date the statements are made and are subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or outcomes to differ materially from those anticipated or implied by such forward-looking statements. In light of the risks and uncertainties associated with forward-looking statements, readers are cautioned not to place undue reliance upon forward-looking information. Although the Company believes that the expectations reflected in the forward-looking statements set out in this press release or incorporated herein by reference are reasonable, it can give no assurance that such expectations will prove to have been correct. The forward-looking statements of the Company contained in this press release, or incorporated herein by reference, are expressly qualified, in their entirety, by this cautionary statement.
SOURCE IND DAIRYTECH LIMITED
For further information: For further information: Jesse Zhu, Chief Executive Officer, IND DairyTech Limited, (604) 522-1619, firstname.lastname@example.org; James Xiang, VP Corporate Finance, IND DairyTech Limited, (416) 886-1261, email@example.com; Bill Mitoulas, Investor Relations, Stone Communications Service Limited, (800) 336-9528, firstname.lastname@example.org