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Arcland notes 500,000 shares to be sold by China Blue

2021-07-27 19:09 ET - News Release

Mr. George Lian, a shareholder, reports

China Blue Capital Group (the transferor) intends to dispose of 500,000 common shares of Arcland Resources Inc. (the issuer), which has a head office located at 801 560 Cardero St., Vancouver, B.C., Canada, V6G 3G1. The shares will be transferred privately off the market without using the facilities of a stock exchange. The transferor's address is at 4008-4009, 40/F, One Pacific Pl., 88 Queensway, Hong Kong, and is incorporated pursuant to the laws of the Cayman Islands. The transferor is owned and controlled by Xiufen (Jane) Liu, who is a resident of Hong Kong.

The shares will be disposed by the transferor by way of a gift for no valuable consideration and as a result, the transferor will not receive any cash consideration for the shares. The transfer of the shares is expected to be completed by July 30, 2021.

The transferor presently holds 4,761,905 common shares of the issuer, which represents 36.87 per cent of the issued and outstanding common shares of the issuer on an undiluted basis prior to transfer of the shares. As a result of the disposition of the shares, the transferor will continue to hold 4,261,905 common shares of the issuer, representing 33.0 per cent of the issued and outstanding common shares of the issuer on an undiluted basis. The shares represent approximately 3.87 per cent of all the issued and outstanding common shares of the issuer as of the date hereof. The transferor did not previously nor presently own any common shares of the issuer with any joint actor.

This press release is being issued as required by National Instrument 62-104 -- Take-Over Bids and Issuer Bids and relates to the issuer, the head office of which is located at 801 560 Cardero St., Vancouver, B.C., Canada, V6G 3G1.

A copy of the early warning report filed in connection with the matters set forth above may be obtained by contacting: George Lian at 801 560 Cardero St., Vancouver, B.C., Canada, V6G 3G1; telephone: 604-669-6168; e-mail: arclandresourcesca@gmail.com.

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