Target merger companies report a combined income of over 20 million
dollars
BEIJING, Oct. 27 /PRNewswire-FirstCall/ - The Good Life China Corporation
(GLCC; http://www.goodlifechina.com) announces that it entered into a business
relationship discussion or transaction that will involve a merger with one of
the two China based companies.
The Good Life China Corporation (GLCC) and the two newly targeted companies,
which do not wish to state their name at the present stage of negotiations,
started talks and are in the process of signing the preliminary documentation
for future cooperation.
The merger-considering companies see a great potential in the Good Life China
Corporation's highly developed infrastructure of Haorizi and Miluga, and
regard this infrastructure as highly-competitive, organized and flexible. This
infrastructure would add a great value to the already existing distribution
base of these retail companies, and GLCC as an organization moving forward
after the merger.
The first targeted merger company is a China based retailer company with
revenues in the 15 million USD range and profits in the range of 3 million
USD. The second targeted candidate is an organic food manufacturing and
processing plant. This company's revenues revolve around the 20 million USD
mark. This candidate indicates profits of about 30%. Assets are in the 10
million USD range.
The Good Life China Corporation's management feels that this is a material
event and that its due diligence stage with the two new retail companies
requires a public announcement.
This merger is based on the targeted merger companies being able to meet and
exceed both management and long-term shareholders reasonable expectations. The
GLCC management works in concert with its preferred shareholders and its M&A
advisors on this merger and develops a complex preferred share exchange
arrangement. The result will see GLCC's current (both common and preferred)
share structure unchanged and undisturbed after the merger.
The targeted merger candidates would over time acquire the preferred shares
and have an option to convert these preferred shares at a significantly higher
strike price than what GLCC is currently trading at. The targeted merger
candidates hope to benefit from this merger and increase their revenues.
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Safe Harbor Statement
Information in this news release may contain statements about future
expectations, plans, prospects or performance of Good Life China Corp. that
constitute forward-looking statements for purposes of the Safe Harbor
Provisions under the Private Securities Litigation Reform Act of 1995. The
words or phrases "can be", "expects", "may affect", "believed", "estimate",
"project" and similar words and phrases are intended to identify such
forward-looking statements. Good Life China Corp. cautions you that any
forward-looking information provided by or on behalf of Good Life China Corp.
is not a guarantee of future performance. None of the information in this
press release constitutes or is intended as an offer to sell securities or
investment advice of any kind. Good Life China Corp.'s actual results may
differ materially from those anticipated in such forward-looking statements as
a result of various important factors, some of which are beyond Good Life
China Corp.'s control. In addition to those discussed in Good Life China
Corp.'s press releases, public filings, and statements by Good Life China
Corp.'s management, including, but not limited to, Good Life China Corp.'s
estimate of the sufficiency of its existing capital resources, Good Life China
Corp.'s ability to raise additional capital to fund future operations, Good
Life China Corp.'s ability to repay its existing indebtedness, the
uncertainties involved in estimating market opportunities, and in identifying
contracts which match Good Life China Corp.'s capability to be awarded
contracts. All such forward-looking statements are current only as of the date
on which such statements were made. Good Life China Corp. does not undertake
any obligation to publicly update any forward-looking statement to reflect
events or circumstances after the date on which any such statement is made or
to reflect the occurrence of unanticipated events.
CONTACT: www.minamargroup.com/helpdesk
SOURCE Good Life China Corporation
www.minamargroup.com/helpdesk
