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Asia Bio-Chem Group Corp. announces the results of its Annual General Meeting
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About this update from Absolutely Critical Resources Corp.
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE\nUNITED STATES/\n\nTSX Venture: ABC\n\n\nTORONTO, May 28 /CNW/ - Asia Bio-Chem Group Corp. (TSXV: ABC) ("Asia\nBio-Chem" or the "Company") today announced the results of its annual and\nspecial meeting (the "Meeting") of shareholders held on May 27, 2009.\n\n\nAll five management nominees were elected to serve as directors of the\nCompany. Each of Zhiping Wang, Robert Wilson, Brent Majkrzak, William Thomson\nand Jeremy Kendall were all elected as directors to serve for the ensuing\nyear. In addition, the shareholders of the Company duly approved the\nappointment of Manning Elliott LLP as the Company auditor and the adoption of\nthe Amended and Restated 2009 Incentive Stock Option Plan as described in the\nCompany's Proxy Circular dated April 16, 2009. Under the Amended and Restated\n2009 Incentive Stock Option Plan, an aggregate of 11,516,554 common shares are\nreserved for issuance upon the exercise of stock options granted or to be\ngranted.\n\n\nThe Company further announces that it has granted an aggregate of 975,000\nstock options pursuant to its Amended and Restated 2009 Stock Option Plan to\ncertain directors and officers of the Company. The options are exercisable for\n5 years at an exercise price equal to the closing price of the shares as of\nthe date of this announcement.\n\n\nAbout Asia Bio-Chem Group Corp.\n\n\nAsia Bio-Chem Group, through its wholly-owned subsidiary in the Peoples\nRepublic of China ("PRC") is in the business of manufacturing cornstarch and\nrelated products. From its plant in Liaoning Province, the Company produces\napproximately 270,000 tonnes of cornstarch, corn germ, gluten and fiber per\nyear for sale into the domestic market in the PRC. The Company is currently\nconstructing a second facility in Heilongjiang Province which, upon\ncompletion, is expected to triple production capacity.\n\n\nThis news release contains certain statements that may be deemed "forward\nlooking statements". Forward looking statements are statements that are not\nhistorical facts and are generally, but not always, identified by the words\n"expects,", "plans", "anticipates", "believes", "intends", "estimates",\n"projects",...