TORONTO, Aug. 4, 2015 /CNW/ - Asia Bio-Chem Group Corp. (CSE: ABC) ("Asia Bio-Chem" or the "Company") announces today that William Thomson and Brent Majkrzak have resigned as directors of the Company effective July 31, 2015. These directorships will be replaced by Mr. Tingguo Liu and Mrs. Guizhi Sun who will serve as the independent directors of the Company.
"I would like to thank Bill and Brent for their contribution and support over the past seven years. The advice and insight provided by both have been invaluable to the Company" stated Mr. Zhiping Wang, President and CEO of Asia Bio-Chem. "At the same time we welcome Mr. Tingguo Liu and Mrs. Guizhi Sun who are experienced in the corn processing industry."
In addition, Robert Wilson, Executive Vice President and corporate secretary has resigned his position as Executive Vice President and Corporate Secretary of the Company. The position of corporate Secretary will be replaced by Elaine Zhao, the Company's Chief Financial Officer. While Mr. Wilson will no longer be an officer of the Company, he will continue as an Investor Relations Consultant.
The appointment of Mr. Tingguo Liu and Mrs. Guizhi Sun is subject to approval by the CSE.
About Asia Bio-Chem Group Corp.
Asia Bio-Chem Group, through its wholly-owned subsidiaries in the People's Republic of China, is in the business of processing corn into cornstarch, germ and gluten for sale into the domestic Chinese market. From its plants in Liaoning and Heilongjiang Province, the Company has a total processing capacity of 1.5 million tonnes of corn per year.
This news release contains certain statements that may be deemed "forward looking statements". Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects,", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward looking statements, except as required by law, in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE Asia Bio-Chem Group Corp.
