Ballyliffin Capital Corp.
TSX VENTURE : BLL.P

May 27, 2009 15:03 ET

Ballyliffin Capital Corp.: Proposed Qualifying Transaction

KELOWNA, BRITISH COLUMBIA --(Marketwire - May 27, 2009) - Mr. Devinder Randhawa, President of Ballyliffin Capital Corp. (TSX VENTURE:BLL.P) (the "Corporation" or "Ballyliffin"), wishes to provide the following update on the status of its proposed qualifying transaction as previously announced on March 25, 2009. Ballyliffin has been negotiating with a Chinese based forestry company in connection with a proposed arm's length qualifying transaction and announces that a Letter of Intent has been executed with East Top International Group Limited ("East Top"), a privately held company headquartered in the British Virgin Islands which has several operating subsidiaries situated in the Peoples Republic of China. East Top is engaged in forest operations, management, logging and timber processing and trading. East Top's principal business includes the ownership of natural forest lands, wood fibre operations, manufacturing and other operations producing downstream wood products.

Ballyliffin and East Top are currently in discussions with the TSXV regarding certain structural matters. Further details will be announced once a definitive agreement has been signed, which is anticipated to occur shortly.

Trading will remain halted until all necessary documentation has been filed and approved by the TSXV in accordance with TSXV Policy 2.4.

Certain information regarding the Corporation contained herein may constitute forward-looking statements under applicable securities laws. Such statements are subject to known or unknown risks and uncertainties that may cause actual results to differ materially from those anticipated or implied in the forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the information contained herein.

Contact Information

  • Ballyliffin Capital Corp.
    Mr. Devinder Randhawa
    President
    (250) 868-8177
    (250) 868-8493 (FAX)
    info@rdcapital.com