Hylands International Announces Delay in Holding of AGM and Transfer of Shares by Major Shareholder
May 05 2021 - 8:00AM
Hylands International Holdings Inc. (TSXV: HIH;
“
Hylands” or the “
Company”)
announced today that it will delay the holding of its annual
general meeting (“
AGM”) in respect of the 2019
fiscal year until June 8, 2021. The AGM in respect of the Company’s
2020 fiscal year will be held at the same time. The Company has
been granted an extension of up to six months by the BC Registrar
of Companies for the holding of the 2019 AGM. Proxy materials in
respect of the meeting are expected to be filed on the Company's
website and on SEDAR (www.sedar.com) shortly.
The Company also announced that it has been
advised by its Chairman, Chief Executive Officer and major
shareholder, Mr. Hang Peng of Beijing, China, that he has
transferred 7,666,667 shares of the Company indirectly owned,
representing approximately 5.1% of the outstanding shares, in a
private transaction. Mr. Peng has advised the Company that prior to
the transfer he exercised ownership or control, directly or
indirectly, over 63,479,012 common shares of Hylands, representing
approximately 42.2% of the outstanding shares. Mr. Peng has advised
that following the transfer he directly and indirectly beneficially
owns 55,812,345 common shares, representing approximately 37.1% of
the number of issued and outstanding common shares of Hylands on a
non-diluted basis. Mr. Peng has advised that he has disposed of the
subject shares to effect a gift and does not have any present
intention to acquire or dispose of additional securities of the
Company but may, depending on the market and other conditions,
increase or decrease his beneficial ownership of securities of
Hylands, whether in the open market, by privately negotiated
agreements or otherwise, subject to general market conditions and
other available investment and business opportunities.
About Hylands International
Hylands International Holdings Inc., through its
wholly-owned subsidiary, Haijin International Group Limited, owns
95% of Xinjiang Yongkun Mining Co., Ltd (“Yongkun”). Yongkun's
principal activities are the exploration, evaluation and
development of mineral property interests in the People’s Republic
of China (PRC), including Yongkun's Suyekebei (Suyeke North) nickel
property located in Tuoli County, Tacheng Area, Xinjiang- Uyghur
Autonomous Region, PRC.
For additional information
or to obtain a copy of Mr. Peng’s early warning
report, please contact:
Hang Peng, ChairmanTel: 416-361-0737E-mail :
contactus@hylandshih.com
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 release.
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