CALGARY, Dec. 10, 2014 /CNW/ - On December 8, 2014, PCC Prostate Cancer Centre ("PCC") acquired ownership of 12,059,000 common shares (the "Shares") in the capital of Hanfeng Evergreen Inc. ("Hanfeng"). The Shares were acquired pursuant to a charitable donation made to PCC. The transaction did not occur on any stock exchange or other market as the common shares of Hanfeng are not currently listed for trading. The Shares donated to PCC represent approximately 20.0% of the total issued and outstanding common shares of Hanfeng. Following the completion of the donation of the Shares, PCC owns 20.0% of the issued and outstanding common shares of Hanfeng.
PCC accepted the donation of the Shares as a bona fide gift made in good faith. PCC intends to hold the Shares during Hanfeng's previously announced receivership process and to receive a portion of the proceeds distributed to Hanfeng shareholders. PCC has no intention to acquire ownership of, or control or direction over, additional common shares of Hanfeng in the future.
PCC will be filing a report under National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
SOURCE: Prostate Cancer Centre
For further information: Pam Heard, Executive Director, PCC Prostate Cancer Centre, 6500, 7007 - 14th Street SW, Calgary, Alberta T2P 1P9, Phone: (403) 943-8888, Email: [email protected]