EDMONTON, Alberta, October 30, 2014 – BioNeutra Global Corporation (formerly INTERCAP eCommerce Inc.) (the “Company”) announces the successful completion of the business combination of the Company, BioNeutra North America Inc. (“BioNeutra North America”) and BioNeutra International Limited (“BioNeutra International”). Further to the press release announced on August 27, 2014, the business combination was effected pursuant to a plan of arrangement dated effective September 22, 2014 between the Company, BioNeutra North America and 1839390 Alberta Ltd., and pursuant to a share exchange agreement entered into between the Company, Dr. Jianhua Zhu, BioNeutra International and the shareholders of BioNeutra International dated September 23, 2014 (the “Transaction”), the full details of which are disclosed in the information circular dated August 22, 2014 and filed on SEDAR on August 25, 2014.
The shareholders of the Company approved the plan of arrangement at its annual and special meeting held on September 19, 2014 with the final order of the Court of Queen’s Bench of Alberta being granted on September 24, 2014. The Articles of Amendment were filed with the Registrar of Corporations for the Province of Alberta on October 29, 2014.
Upon closing the Transaction, Dr. Jianhua Zhu, Mr. Bill Smith, Mr. Lionel Eshleman, Ms. Huifen Zhang and Mr. William (Bill) Cheung were appointed to the Company’s board of directors.
The Company is also pleased to announce that effective October 29, 2014, Intercap eCommerce Inc. changed its name to “BioNeutra Global Corporation” as approved at its annual and special meeting of shareholders held on September 19, 2014.
Furthermore, the Company completed a share consolidation of its share capital on the basis of one (1) post-consolidation common share for every ten (10) pre-consolidation common shares effective on October 29, 2014 and Articles of Amendment have been filed in connection with the share consolidation and name change. Prior to the share consolidation and the Transaction the Company had a total of 11,925,956 common shares issued and outstanding. As a result of the Transaction and the share consolidation, the Company now has a total of 39,753,181 common shares issued and outstanding.
The common shares of the Company were voluntarily delisted from the NEX board of the TSX Venture Exchange on October 29, 2014. The Company has applied to the Canadian Securities Exchange for a listing of its common shares which it anticipates to commence trading on a consolidated basis under the new name and trading symbol “BGA” in the near future.