IND DAIRYTECH LIMITED RECEIVES NOTICE OF AUTOMATIC SHARE PURCHASE PLAN BY SAIF PARTNERS III L.P.
01 Abril 2011 - 2:00PM
PR Newswire (Canada)
VANCOUVER, April 1 /CNW/ -- VANCOUVER, April 1 /CNW/ - IND
DairyTech Limited ("IND" or "the Company") (TSXV:IND) announces
that it has been notified by SAIF Partners III L.P. ("SAIF"),
holder of 36,271,800 Series A Preferred Shares of the Company, that
SAIF has entered into an automatic share purchase plan with its
broker to acquire common shares of the Company on the market
through the Company's year-end blackout period. About IND DairyTech
Limited IND, through its operating subsidiaries, is an emerging raw
milk and Holsteins producer in China that is seeking to become a
leading provider of high quality raw milk and Holsteins to the
Chinese dairy industry. To meet China's increasing demand for dairy
products, the Company is using Canadian cattle genetics and North
American farming practices to establish and develop its dairy herd
in China. The Company plans to develop its herd in China through
the use of advanced breeding techniques employing Canadian Holstein
embryos that it intends to use to impregnate surrogate cows. These
embryos have been created through in vitro fertilization using
sexed semen to achieve an approximate 90% female birth rate. The
use of these advanced breeding techniques is expected to allow the
Company to rapidly expand its herd. The use of Canadian Holstein
embryos also provides a practical solution to China's ban on the
import of live Canadian cattle. The TSX Venture Exchange has not
reviewed and does not accept responsibility for the adequacy or
accuracy of this release. FORWARD LOOKING INFORMATION Certain
information set out in this News Release constitutes
forward-looking information, which may include information relating
to estimates of sales and revenue of IND. Forward-looking
statements (often, but not always, identified by the use of words
such as "expect", "may", "could", "anticipate" or "will" and
similar expressions) may describe expectations, opinions or
guidance that are not statements of fact and which may be based
upon information provided by third parties. Forward-looking
statements are based upon the opinions, expectations and estimates
of management of the Company as at the date the statements are made
and are subject to a variety of known and unknown risks and
uncertainties and other factors that could cause actual events or
outcomes to differ materially from those anticipated or implied by
such forward-looking statements. In light of the risks and
uncertainties associated with forward-looking statements, readers
are cautioned not to place undue reliance upon forward-looking
information. Although the Company believes that the expectations
reflected in the forward-looking statements set out in this press
release or incorporated herein by reference are reasonable, it can
give no assurance that such expectations will prove to have been
correct. The forward-looking statements of the Company contained in
this press release, or incorporated herein by reference, are
expressly qualified, in their entirety, by this cautionary
statement. To view this news release in HTML formatting,
please use the following URL:
http://www.newswire.ca/en/releases/archive/April2011/01/c8679.html
table border="0" tr valign="top" td align="left" Jesse Zhubr/ Chief
Executive Officerbr/ IND DairyTech Limitedbr/ 604-522-1619 /td td
/td td /td td align="left" Selen Zhoubr/ Corporate
Secretarybr/ IND DairyTech Limitedbr/ 604-522-1619 /td /tr /table p
/p
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