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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Foccini International | TSXV:FOI | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
Canada - Foccini International Inc. ("Foccini" or the "Company") (TSX VENTURE:FOI) announced today that it has entered into negotiations to sell its 100% stake in its Austrian operating subsidiary, Foccini Trade GmbH (the "FT Sub"). Foccini anticipates entering into an agreement to conditionally sell the FT Sub and intends to submit a resolution in respect of the proposed disposition to its shareholders at its next shareholders meeting on June 29, 2009. This disposition will fulfill one of conditions required to allow Foccini to exercise its option to purchase all the outstanding shares of Arch Biotech Inc. as previously disclosed in a press release issued May 6, 2009. Completion of the proposed disposition of the FT Sub is subject to compliance with all necessary regulatory and other approvals and certain other terms and conditions. Forward-Looking Statements All statements, other than statements of historical fact, in this news release are forward looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future plans and objectives of the Company. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
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