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Good Life China Corporation (GLCC) Seeks A Merger With OTCBB Issuer
July 21, 2008
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. The
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.
Mr.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 reliefs, and NOT
both. For 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.
The 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."
In other corporate updates, the issuer is making provisions to
become an SEC reporting issuer in the unlikely event that both the
OTCBB and Xetra planned transactions, and or its filings not be
approved as a secondary back up plan. Ms. Doi Mai Jia the issuers
CEO said "We need to comply with the security laws not only in USA
but in both USA and China. We are looking at all the options as to
how best to close this mega huge gap that exists between our company
valuation, and the current share price which indicates only a small
fraction of what Good Life China is really and truly worth."
The common shares of the Company are currently dually listed in the
USA Pink Sheets (symbol GLCC.PK) and the Frankfurt Stock Exchange.
(Xe:L9X) The issuer is in good standings with Pink Sheets and ranked
as a "Current Information" filer with its security.
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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