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| Home : Pacific Orient Announces Transfer to NEX and Provides Update on Proposed Qualifying Transaction With Focus Gold Corporation |
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Jun 29
2012 |
Pacific Orient Announces Transfer to NEX and Provides Update on Proposed Qualifying Transaction With Focus Gold Corporation |
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TORONTO, ONTARIO--(Marketwire - June 28, 2012) - Pacific Orient Capital Inc. ("Pacific Orient") (TSX VENTURE:AAQ.P), a capital pool company as defined under Policy 2.4 of the TSX Venture Exchange (the "Exchange"), announces that pursuant to its press release dated April 4, 2012, Pacific Orient has received approval from the Exchange to transfer to the NEX board of the Exchange effective the opening of market on July 3, 2012. The common shares of Pacific Orient (the "POC Shares") continue to be suspended, pending completion of its proposed transaction (the "Qualifying Transaction") with Focus Gold Corporation ("Focus Gold"), previously announced on February 29, 2012 and March 29, 2012. As part of the transfer to the NEX, 500,000 POC Shares that were issued to Non-Arms Length Parties (as such term is defined by the Exchange) of Pacific Orient (subsequently transferred to the current management of Pacific Orient) at a price below the initial public offering price of the POC Shares were cancelled. It is expected that upon completion of the Qualifying Transaction, the POC Shares will commence trading on the Exchange again. |
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| Source:http://www.marketwire.com/mw/release.do?id=1675124&sourceType=3 |
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