IND Dairytech Limited Announces Proposed Trading Halt In Connection With The Proposed Take Private Transaction

VANCOUVER, July 22, 2011 /CNW/ -- 
VANCOUVER, July 22, 2011 /CNW/ - IND DairyTech Limited ("IND" or "the
 Company") (TSXV: IND) announced today that it expects to voluntarily
 halt trading of the Company's common shares (the "Shares") on the TSX
 Venture Exchange (the "Exchange") at the close of the markets on July
 25, 2011.  The trading halt is being proposed to facilitate the closing
 and settlement of the Company's proposed take private transaction,
 which is currently being scheduled for July 29, 2011.  The trading halt
 will remain in effect until the Shares are delisted from the Exchange.


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.


Neither the TSX Venture Exchange nor its Regulation Services Provider
 (as that term is defined in the policies of the TSX Venture Exchange)
 accepts responsibility for the adequacy or accuracy of this news
 release.


Forward-Looking Statements:


This news release contains forward-looking statements relating to the
 proposed trading halt and the proposed take private transaction of the
 Company, including statements regarding the proposed trading halt. Such
 forward-looking statements are subject to important risks,
 uncertainties and assumptions. The results or events predicted in these
 forward-looking statements may differ materially from actual results or
 events. As a result, you are cautioned not to place undue reliance on
 these forward-looking statements.


The completion of the proposed take private transaction is subject to a
 number of terms and conditions, including, without limitation: (i)
 approval of the TSX Venture Exchange; (ii) required shareholder
 approvals; (iii) support of certain remaining shareholders who will not
 receive any consideration as a result of the proposed take private
 transaction; and (iv) certain termination rights available to the
 parties under a support agreement dated June 28, 2011 (the "Support
 Agreement"). These approvals may not be obtained, or the conditions of
 the proposed take private transaction may not be satisfied in
 accordance with their terms, and/or the parties to the Support
 Agreement may exercise their termination rights, in which case the
 proposed take private transaction could be modified, restructured or
 terminated, as applicable.


The forward-looking statements contained in this news release are made
 as of the date of this release. Except as required by applicable law,
 the Company disclaims any intention and assumes no obligation to update
 or revise any forward-looking statements, whether as a result of new
 information, future events or otherwise. For additional information
 with respect to certain of these and other assumptions and risks,
 please refer to the management circular to be filed by the Company with
 the applicable securities commissions, which will be available at www.sedar.com.


 


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table valign="top" border="0" tr valign="top" td valign="top" align="left" Jesse Zhubr/ Chief Executive Officerbr/ IND DairyTech Limitedbr/ 604-522-1619 /td td   /td td valign="top" align="left" Selen Zhoubr/ Corporate Secretarybr/ IND DairyTech Limitedbr/ 604-522-1619 /td /tr /table p   /p 

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