Archive for the ‘Qualifying transactions’ Category

Ballyliffin Capital Corp makes a deal with BVI-registered forestry company

Wednesday, June 10th, 2009

On May 27, 2009, the Canadian company Ballyliffin Capital Corp. provided an update on the status of its proposed qualifying transaction announced on March 25, 2009. Ballyliffin had negotiations with East Top International Group Limited, a privately held company headquartered in the British Virgin Islands and having several operating subsidiaries situated in the Peoples Republic of China, in connection with a proposed arm’s length qualifying transaction. Now the company announces that a Letter of Intent has been executed with the BVI company, which is engaged in forest operations, management, logging and timber processing and trade.

Currently, Ballyliffin and East Top are in discussions with the TSXV regarding structural matters of the transaction, and further details will be announced after a definitive agreement will be signed by them.

The principal business of East Top International Group Limited includes the ownership of natural forest lands, wood fibre operations, manufacturing and other operations producing downstream wood products.