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LINGXIAN CAPITAL INC.
Suite 1908 – 1075 West Georgia Street
Vancouver, British Columbia V6E 3C9
September 11, 2015 Trading Symbol: TSX-V: LXC.P
Lingxian filing statement available on sedar
Vancouver, September 11, 2015 – Lingxian Capital Inc. (the “Company”), a capital pool company pursuant to Policy 2.4 (the “Policy”) of the TSX Venture Exchange (the “TSXV”), is pleased to announce, further to news releases dated August 14, 2014 and December 12, 2014 with respect to its proposed qualifying transaction (the “Transaction”) of the Company with Jinsili International Steel Holdings Co., Limited (“Jinsili”), that
- a filing statement (the “Filing Statement”) relating to the Transaction has been filed on SEDAR;
- a definitive share purchase and exchange agreement (the “Share Exchange Agreement”)between the Company, Jinsili, Jinsili’s subsidiary and Xizhou Tong has been entered into dated August 24, 2015 in respect of the Transaction. Details of the Share Exchange Agreement are set out in the Filing Statement;
- a formal sponsorship agreement (the “Sponsorship Agreement”)with Leede Financial Markets Inc. (the “Sponsor”) has been entered into dated August 25, 2015, which ahs also been filed with the TSXV. Pursuant to the Sponsorship Agreement, the Sponsor has provided its final sponsor’s report to the TSXV; and
- subject to certain conditions, as more particularly described in the Filing Statement, the parties have scheduled closing of the Transaction, including the private placement in the amount of approximately $500,000, on September 1, 2015.
Completion of the Transaction is subject to a number of conditions, including but not limited to final acceptance of the TSXV. Trading of the Company’s common shares is expected to resume shortly after the closing of the Transaction.
Investors are cautioned that, except as disclosed in the Filing Statement, 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 the Company should be considered highly speculative.
About Lingxian Capital Inc.
Lingxian Capital Inc., a capital pool company within the meaning of the Policy of the TSXV, was incorporated in British Columbia on July 16, 2012 and listed on the TSXV on May 23, 2014. The Company does not have any operations and has no assets other than cash. The Company’s business is to identify and evaluate businesses and assets with a view to completing a qualifying transaction (as such term is defined in the Policy).
For More Information
For more information, please contact:
Herrick Lau, Chief Executive Officer
This press release may contain “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein may be forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans” “expects” or “does not expect”, “proposed”, “is expected”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information in respect of the Company and Jinsili reflects the Company’s and Jinsili’s, as the case may be, current beliefs and is based on information currently available to the Company and Jinsili, respectively, and on assumptions the Company and Jinsili, as the case may be, believes are reasonable. These assumptions include, but are not limited to, final acceptance of the TSXV.
The TSX Venture Exchange has in no way passed on the merits of the proposed Transaction and has neither approved or disapproved the contents of this press release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility of the adequacy or accuracy of this press release.