BEIJING, Dec. 29 /PRNewswire-FirstCall/ - Good Life China Corporation http://www.goodlifechina.com/ (GLCC) announced today that it has identified 2 separate public companies which it will acquire (or has began the acquisition process already). The original targeted candidate is a UK based PLC company Robox A I PLC description: Equity, ISIN GB00B2NPLL36, WKN A0NBLU, Symbol: 5RB quoted on the German Deutsche-Boerse. http://deutsche-boerse.com . The 2nd public company is a USA based issuer who came forth unsolicited after the conclusion of the shareholders tele conference held last week, and remains a possible option for the issuer.
Mr. Yves Yang, the company spokesperson, said, "The company's management sees Robox as a great vehicle with its share price of $1.00 as the best suitable option for its logistics division. We are well underway with the Robox transaction, and although the 2nd USA based company is attractive we can not release its name until we have reached a more concrete ground with them. Mr. Garr Winters, the company's Secretary, has advised Good Life management and Ms. Jia, the company's CEO, that he intends to seek legal guidance with a securities lawyer as to the best way to provide the GLCC shareholder base with entry into Robox. The options currently in consideration include a straight share exchange agreement, free trading shares with some managed leak out to prevent a rapid share decline and obviously with a significant premium paid to all GLCC shareholders. Alternatively, a new share distribution of Robox to the Good Life shareholders is an option. In order to keep the dilution to a minimum Mr. Winters suggestion that the key management of Good Life China follow his example and receive no new shares of Robox. This proposal was accepted by the Good Life board. (For services as a Secretary of Good Life China Mr. Winters receives compensation of $1.00 per year plus stock for services rendered. Mr. Winters is a philanthropist. He has never sold any stock in the companies he acts as a Secretary or an advisor and instead donates 100% these stock proceeds to charity)."
The issuer continues to work with the packaging company (see filings on Pink Sheets) and distributions the issuer intends to make to its broad shareholder base. Mr. Yves Yang added, "2009 indeed is shaping up to be a very promising year for Good Life China. We anxiously await arrival of our advisors to the home office here in Beijing in January to conclude all of these pending business matters."
In other company news, the issuer's corporate advisor on behalf of the issuer has served notice to Westmount Resources, an OTCBB quoted company, that Good Life China intends to issue a statement of claim (a complaint in USA) in an Ontario, Canada court for certain business matters, as per the issuers filings and notice of intent dating back to May-June 2008 unless it receives relief from Westmount or its direct managers. Mr. Yves Yang concluded, "This was the original targeted merger or split off company for our logistics division and after the transaction became frustrated we looked at other markets and were introduced to Robox. One way or another we remain committed to transforming Good Life China into a larger more stronger entity."
The issuer will provide further details as they become available.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
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