Blandings Capital Limited
TSX VENTURE : BDC.P

April 28, 2009 18:51 ET

Blandings Announces Engagement of Sponsor and Financing for Its Qualifying Transaction Acquisition

CALGARY, ALBERTA--(Marketwire - April 28, 2009) - Blandings Capital Limited. - (TSX VENTURE:BDC.P) ("Blandings"), a capital pool company with its shares listed on the TSX Venture Exchange (the "Exchange"), is pleased to announce that it has retained Research Capital Corporation, through its Toronto office, as its Sponsor in connection with the application to list the common shares of Blandings for trading on the TSX Venture Exchange which result from its qualifying transaction which is the direct or indirect acquisition of AMG Bioenergy Resources Group as previously announced in October 2008.

In addition, AMG Bioenergy Resources Group/APVC Holdings Pte Ltd. ("APVC") has advised that they have entered into agreements and have received funding by way of a USD1 MM Convertible Note Facility Agreement.

These two announcements will facilitate the agreement in principle to acquire all of the issued and outstanding securities of APVC, a corporation incorporated pursuant to the laws of the British Virgin Islands and carrying on business of producing bio-fuel feedstock (that is non-edible in nature and does not affect the global supply of edible oil and food resources) and biodiesel in the People's Republic of China and other parts of Asia. It is intended that this transaction shall be the "qualifying transaction" of Blandings in accordance with Exchange Policy 2.4 - Capital Pool Companies. The resulting issuer post vend-in and related financing shall meet the minimum listing requirements of the Exchange as a Tier 2 Industrial Issuer Pursuant to Exchange Policy 2.1-Minimum Listing Requirements.

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. This news release contains forward -looking information including but not limited to comments regarding the timing and content of upcoming business initiatives, etc. Forward -looking information includes disclosure regarding possible future events, conditions or results of operations that is based on assumptions about future economic conditions and courses of action, and therefore, involves inherent risks and uncertainties. Actual results may differ materially from those currently anticipated.

Shares Outstanding 12,250,000

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

  • Blandings Capital Limited
    Greg Hansen
    President
    (403) 397-0186
    (403) 245-2723 (FAX)
    or
    APVC Holdings Pte Ltd.
    Lee Shoong Lim
    President
    (65) 62231098
    (65) 62238258 (FAX)