TORONTO, ONTARIO--(Marketwire - July 19, 2012) - Canada Bai Heng Group Ltd. ("CBH") of Markham, Ontario, has acquired ownership of 6,725,000 units (the "Units") of Jiminex Inc. (the "Issuer"), each Unit being comprised of one common share in the capital of the Issuer and one half of one common share purchase warrant, each whole warrant entitling CBH to purchase one additional common share in the capital of the Issuer at a per share price of $0.12 until July 18, 2014.
Immediately after this acquisition, CBH owned on a non-diluted basis an aggregate of 6,725,000 common shares in the capital of the Issuer representing approximately 14.26% of the Issuer's outstanding common shares on a non-diluted basis, plus warrants entitling CBH to purchase 3,362,500 common shares in the capital of the Issuer or, assuming exercise of these warrants, an aggregate of 10,087,500 common shares or approximately 19.97% of the Issuer's common shares on a diluted basis.
The Units were acquired for investment purposes by CBH, by cash subscription, through a private placement offering conducted by the Issuer. CBH intends to evaluate these holdings and to increase or decrease its investment in the Issuer as circumstances warrant.
A report respecting this acquisition will be filed with the Securities Commission in each jurisdiction where the Issuer is reporting and will be available for viewing through the Internet at the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.