Rodocanachi Capital Inc.
TSX VENTURE : ROD.P

January 11, 2011 16:24 ET

Rodocanachi Capital Inc. Receives Conditional Approval From The TSXV and the Approval of the Majority of the Minority of its Shareholders

MONTREAL, QUEBEC--(Marketwire - Jan. 11, 2011) - Rodocanachi Capital Inc. (TSX VENTURE:ROD.P) is pleased to announce that it has received conditional approval from the TSX Venture Exchange (the "TSXV") and unanimous approval of the majority of minority of its shareholders who voted at the annual and special meeting of the shareholders held on January 10, 2011, for its previously announced proposed qualifying transaction (the "Qualifying Transaction") with Axcelon Biopolymers Corp. ("Axcelon"). A copy of the information circular relating to the Qualifying Transaction is available on SEDAR at www.sedar.com. The Qualifying Transaction is anticipated to close on or about February 15, 2011.

Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, final acceptance from the TSXV and completion by Axcelon of a brokered concurrent financing for gross proceeds of not less than $1,450,000 up to $2,000,000. There can be no assurance that the Qualifying Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the Information Circular prepared in connection with the Qualifying Transaction, any information released or received with respect to the Qualifying Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Rodocanachi should be considered highly speculative.

The TSXV has in no way passed upon the merits of the Qualifying Transaction and has neither approved nor disapproved the contents of this press release.

Certain information in this press release may contain forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements with respect to closing or completion of the Qualifying Transaction. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Rodocanachi assumes no obligation to update the forward-looking statements unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in filings by Rodocanachi with the Canadian securities regulators, which filings are available at www.sedar.com.

Contact Information

  • Rodocanachi Capital Inc.
    Mr. Richard Besner
    President and Chief Executive Officer
    514-824-5434