Blandings Capital Limited

July 31, 2008 11:13 ET

Blandings Capital Limited Announces Proposed Acquisition of Private Company in Biofuel Business

CALGARY, ALBERTA--(Marketwire - July 31, 2008) - Blandings Capital Limited. - (TSX VENTURE:BDC.P) ("Blandings"), a capital pool company with its shares listed on the TSX Venture Exchange, is pleased to announce that it has entered into a non-binding memorandum of understanding (the "MOU") dated May 13, 2008 relating to the acquisition of all of the issued and outstanding securities of a private company carrying on the business of developing a nucleus plantation in Guangdong Province to produce Jatropha crude oil to be processed for biofuel by existing facilities on a tolling basis. The Jatropha plant is bio-fuel feedstock that is non-edible in nature and does not affect the global supply of edible oil and food resources. Blandings is presently working with the TSX Venture Exchange (the "Exchange") to address certain preliminary due diligence matters and to ensure proper disclosure of information relating to the potential Qualifying Transaction. Further information will be released in due course. The shares of Blandings will not be reinstated for trading until the requirements of the TSX are satisfied.

Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Blandings Capital Limited
    Greg Hansen
    (403) 397-0186
    (403) 245-2723 (FAX)