BioForest Pacific Inc. Completes Acquisition of BioForest Investments Inc.Business Editors TORONTO--(BUSINESS WIRE)--Feb. 22, 2001 BioForest Pacific Inc. (formerly Castello Casino Corp.) (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BIFP) announces that it has completed the acquisition of 100% of BioForest Investments Inc., with the issuance of 36,723,050 common shares, pursuant to the Share Exchange Agreement dated May 9, 2000 and as amended by letter agreement dated December 15, 2000. The Shares represented by these certificates have been issued in a transaction that is exempt from the registration requirements of the Securities Act of 1933, as amended, of the United States of America UNITED STATES OF AMERICA. The name of this country. The United States, now thirty-one in number, are Alabama, Arkansas, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Hampshire, , and may not be transferred except pursuant to registration under the Securities Act or and exemption from such registration. BioForest Investments Inc. has the right to earn 70% of BioForest Holdings (Fiji) Limited and BioForest Products (Fiji) Limited ("H&P") upon providing U.S.$10,000,000. H&P are 30% owned by the Taukei Unit Trust, which represents the interest of certain Fijian owners of forest lands. The funding will be used to acquire several indigenous timber concessions in the Republic of Fiji, to purchase and upgrade certain operating sawmills and dry mills and for operating capital Noun 1. operating capital - capital available for the operations of a firm (e.g. manufacturing or transportation) as distinct from financial transactions and long-term improvements capital, working capital - assets available for use in the production of further assets . BioForest Pacific Inc. trades in the USA on the NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB symbol "BIFP". SHARES ISSUED: 37,987,890 SEC FILE NO: 0-30194 Statements in this news release that are not historical facts, including statements about plans and expectations regarding products and opportunities, demand and acceptance of new or existing products, capital resources and future financial results are forward-looking. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. involve risks and uncertainties, which may cause the company' actual results in future periods to differ materially from those expressed. These uncertainties and risk include changing consumer preferences, lack of success of new products, loss of the company's customers, competition and other facts discussed from time to time in the company' filings with the Securities & Exchange Commission. No securities regulatory authority Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities has approved or disapproved of the contents of this news release. |
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