Business
Good Life China Corporation (GLCC) Seeks A Merger With OTCBB Issuer
Good Life China Corporation (GLCC) Seeks A Merger With OTCBB Issuer.
About this update from Good Life China Corporation
[{"type":"text","content":"Good Life China Corporation www.goodlifechina.com (Pink Sheets: GLCC) completed a series of filings on Pink Sheets. The identified target merger OTCBB company is Westmont Resources, Inc Symbol: WMNT. \n\nThe issuer believes that by up listing and beginning trading on the OTCBB exchange, it will be the first step towards many in preserving and increasing its share price values. The issuer has also made a series of other filings on Pink Sheets where amongst other things, the issuer is also seeking State permission from the China government to sell part or all of its assets to a USA based issuer; trading on the Xetra Exchange and or merge with a substantially larger China based company (meat processing plant) to name a few. The complete set of filings can be located on Pink Sheets symbol GLCC. \n\n\nMr.Yang the company spokesperson said \"We want to use this opportunity to address our shareholders and followers on the filings which seem to have caused a bit of misunderstanding. The issuer affirms its intent to remain as transparent as possible, to allow its followers to understand its intent ahead of the actual event. According to Chinese security laws, the issuer must seek State approval which approval is usually not unreasonably withheld. In addition the issuer's majority shareholders include State owned bonds and debenture holders. We wish to address our shareholders, and followers and advise them that although on the surface the filings may appear to contradict one another, the key point to remember is that the issuer is seeking either or releifs, and NOT both. \n\nFor example, the issuer is seeking to merge with an OTCBB issuer and also seeking to sell its assets to a USA based issuer trading on Xetra. The issuer feels that the language \"The company intends to simultaneously apply for one or all of these provisions\" in its filings on Pink Sheets was sufficient and self explanatory. We now know otherwise.\n\n\nThe issuer regrets any confusion this may have caused however it feels that it has a fiduciary duty to its shareholders and followers to explore all the options and available avenues before making any material decision; and only then choose the best route available that will yield all concerned the best possible results in both short term and long term range.\"\n\nIn other corporate updates, the issuer is making provisi...