Pacific Wally International Holdings Corp.

February 22, 2010 17:24 ET

Pacific Wally: Private Placement

RICHMOND, BRITISH COLUMBIA--(Marketwire - Feb. 22, 2010) - Pacific Wally International Holdings Corp. ("Pacific Wally") announces that pursuant to the closing of a private placement (the "Private Placement") as of today's date, it purchased 4,000,000 common shares (the "Common Shares") of Epic Data International Inc. (the "Company"), at a price of $0.13 per Common Share for total consideration of $520,000. Prior to the purchase of these Common Shares, Pacific Wally did not own any common shares of the Company. As a result of the Common Shares of the Company acquired by Pacific Wally under the Private Placement, at present, Pacific Wally owns an aggregate of 4,000,000 common shares of the Company, for a total of approximately 19.45% of the outstanding common shares of the Company, assuming no other common shares are issued by the Company.

"We are pleased to be making this strategic investment in Epic Data, a technology pioneer with an impressive history of serving the IT needs of many of the world's leading manufacturers," said Cathy Li Ju, President & CEO of Pacific Wally. "As a business consulting firm specializing in Canada-China business dealings, Pacific Wally will leverage its strong business relationships in China to help Epic Data market its proven technology solutions to domestic manufacturers in this global manufacturing powerhouse."

Pacific Wally has relied on Section 2.3 and Section 2.10 of National Instrument 45-106 – Prospectus and Registration Exemptions in connection with the issuance of the Common Shares. Pacific Wally has acquired the Common Shares for investment purposes and may acquire further securities of the Company for investment purposes, in the market or privately, from time to time.

A copy of the report filed by Pacific Wally in connection with this acquisition is available on the SEDAR website at www.sedar.com or by contacting Pacific Wally at the number shown above.

PACIFIC WALLY INTERNATIONAL HOLDINGS CORP.

(signed) "Cathy Li Ju" 
Cathy Li Ju,
President & Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Pacific Wally International Holdings Corp.
    Cathy Li Ju
    President & Chief Executive Officer
    604-288-0098