China Select Announces Normal Course Issuer Bid
May 24, 2011 – China Select Capital Partners Corp. (TSXV:CH) (the “Company”), announced that it has received approval from the TSX Venture Exchange (the “Exchange”) to make a normal course issuer bid (the “Bid”) to purchase for cancellation, as it considers advisable, up to 1,420,500 of its issued and outstanding common shares (approximately 5% of the common shares outstanding at May 20, 2011). The Bid will be conducted in accordance with applicable securities laws and the policies of the Exchange. Purchases will be made on the open market through the facilities of the Exchange. Canaccord Genuity Corp. of Vancouver will conduct the Bid on behalf of the Company.
The price which the Company will pay for any shares purchased by it will be the prevailing market price on the Exchange at the time of such purchase. However, the Company has set a maximum price of $0.20 for any common shares to be acquired under the Bid.
The Company has not purchased any common shares pursuant to a normal course issuer bid during the previous 12 months. The Bid will commence on June 1, 2011 and will terminate on June 1, 2012, or such earlier time as the applicable Bid is completed.
The Board of Directors of the Company believes that its current market price does not give full effect to their underlying value and that, accordingly, the purchase of common shares under the Bid will increase the proportionate share interest of, and be advantageous to, all remaining shareholders.
On behalf of the board of
CHINA SELECT CAPITAL PARTNERS CORP.
Per: “Min Kuang”
President and Director
About China Select Capital Partners Corp.
China Select Capital Partners Corp. is a Canada-based private equity management firm focused on facilitating investment in the private equity RMB fund industry in China. We invest in leading companies in the agriculture, alternative energy, environmental technology or other selected sectors with high growth potential and then identify an exit strategy. China Select’s management team is composed of investment professionals combining an Asian background with Western education and extensive experience in investment banking, venture capital and fund management in Canada, China and the U.S.
For further information, please contact:
Chief Financial Officer and Managing Director
China Select Capital Partners Corp.
Telephone: (604) 689-0618
Neither the 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.
Caution Regarding Forward-Looking Statements – This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf.