|By Marketwired .||
|January 14, 2014 04:58 PM EST||
TORONTO, ONTARIO -- (Marketwired) -- 01/14/14 -- Hanfeng Evergreen Inc. (TSX:HF) ("Hanfeng" or the "Corporation") announced today that the Toronto Stock Exchange (the "TSX") has, in accordance with its rules, deferred its consideration of the acceptance of the Corporation's recently announced Shareholder Rights Plan (the "Rights Plan") until: (i) such time that the TSX is satisfied that the appropriate securities commission will not intervene in any take-over bid for the Corporation; and (ii) the ratification of the Rights Plan by way of shareholder approval at a meeting to be held within six months of the Corporation's adoption of the Rights Plan. The deferral by the TSX does not affect the adoption or operation of the Rights Plan which will remain operative and effective for a minimum of six months from the date of adoption on January 10, 2014.
The fundamental objective of the Rights Plan is to ensure, to the extent possible, that all shareholders of the Corporation are treated equally and fairly in connection with any initiative to acquire control of the Corporation - whether by way of a dissident proxy solicitation, take-over bid, or otherwise.
A complete copy of the Rights Plan will be filed on SEDAR at www.sedar.com.
This press release contains forward-looking statements based on current expectations, including but not limited to the Corporation's plans, objectives and expectations and the exploration by the Corporation of strategic alternatives. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Risks and uncertainties about the Corporation's business are more fully discussed in the Corporation's disclosure materials, including its annual information form and MD&A, filed with the securities regulatory authorities in Canada. Forward-looking statements are not guarantees of future performance. In light of the significant uncertainties inherent in the forward-looking statements included herein, any such forward-looking statements should not be regarded as representations by the Corporation that its respective objectives or plans will be achieved. Investors are cautioned not to place undue reliance on any forward-looking statements contained herein. Forward-looking statements are provided for the purpose of providing information about the Corporation's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. In addition, these forward-looking statements relate to the date on which they are made. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking statements or the foregoing list of factors, whether as a result of new information, future events or otherwise, except to the extent required by law.
About Hanfeng Evergreen Inc.
Hanfeng is a leading producer and supplier of value-added fertilizer solutions in emerging markets. It is the largest producer of slow and controlled release fertilizer in two of world's most significant agricultural markets: the People's Republic of China and the Republic of Indonesia. Hanfeng is headquartered in Toronto, Ontario and its shares are traded on the Toronto Stock Exchange under the symbol HF.