Greenwich Global Capital Inc.

August 14, 2007 17:34 ET

Greenwich Global Capital Inc. Reports on the Status of its Proposed Qualifying Transaction with World Fortune Entreprise Inc.

TORONTO, ONTARIO--(Marketwire - Aug. 14, 2007) - Greenwich Global Capital Inc. (TSX VENTURE:GGB.P) (the "Corporation") and World Fortune Enterprise Inc. ("World Fortune") have mutually agreed to terminate, as of August 13, 2007, the Agreement in principle related to the Corporation's proposed qualifying transaction with World Fortune consisting in the acquisition of mining assets located in China as disclosed in more details in the Corporation's previous press release dated June 19, 2007.

The trading on the Corporation's common shares will remain suspended until further notice.

However, Greenwich is pleased to announce that, given the circumstances, it has been granted by the TSX Venture Exchange an additional extension of time to complete its qualifying transaction. Such extension now allows the Corporation to conclude a qualifying transaction by February 25, 2008. The board of directors of Greenwich is currently pursuing candidates for its qualifying transaction.

Should the Corporation fail to complete its qualifying transaction or file the required documentation to transfer to NEX on or before February 25, 2008, the TSX Venture Exchange will proceed to delist the securities of the Corporation without further notice.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

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

Contact Information

  • Greenwich Global Capital Inc.
    Daniel F. Hachey
    President & Chief Executive Officer