VANCOUVER , July 24, 2012 /CNW/ - Polo Biology Global Group Corporation (the "Company") (TSXV-PGG) announced today that, further to its news release of June 6, 2012 , shareholders will shortly be receiving the management prepared Special and Annual General Shareholder Meeting materials in connection with the Company's Meeting to be held on August 16, 2012 . With respect to special business at the Meeting, management have proposed that shareholders approve by special resolution the sale of the Company's wholly-owned subsidiary, Rainbow Trend Limited, to Mark Vantage Limited for cash consideration of $760,000 CND as detailed in the Company's June 6, 2012 news release. The Meeting materials and the Valuation and Fairness Opinion referenced therein are available for review on SEDAR.

To attract equity financings in order for the Company to fund acquisitions, business expansion, and to meet working capital requirements, management of the Company is also proposing to consolidate the Company's issued and outstanding share capital. It is managements' opinion that a Share Consolidation of the Company's share capital on the basis of up to ten (10) existing common shares for one (1) new common share is required in order to attract new equity investment in the Company whether it be through private or public markets. Accordingly, shareholders will be asked to approve such proposed Share Consolidation by way of an ordinary resolution at the Meeting.

This news release contains "forward-looking statements". Forward-looking statements include, but are not limited to, statements with respect to the plans for completion of the disposition of all or substantially all of the Company's undertaking, future plans and objectives of the Company, estimation of profitability, the timing and content of upcoming business plans, capital expenditures, success of business operations, risks, and limitations on insurance coverage. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, delays in obtaining regulatory approvals on acceptable terms; delays in obtaining shareholder approval; risks related to international operations; actual results of planned expansion activities; changes in project parameters as plans continue to be refined; future prices of supplies and market prices for products; exchange rates for Canadian, Chinese and any other currencies material to the Company's businesses; accidents, labour disputes and other risks of the industries that the Company is currently operating in; delays in obtaining governmental approvals or financings or in the completion of development activities; Chinese government policies impacting the Company's businesses; general economic, market or business conditions. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements or information made in this news release, except as required under applicable securities legislation.

Neither 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.

SOURCE: Polo Biology Global Group Corporation

Link:
Polo Biology Global Group Corporation Proposes 1:10 Share Consolidation Concurrent with Sale of Active Business