GLCC hebt ab +335%

News for 'GLCC' - (Good Life China Corp (GLCC) Expansion And Corporate Update)


BEIJING, June 2, 2008 /PRNewswire-FirstCall via COMTEX/ -- PINKSHEETS: GLCC
www.goodlifechina.com begins June 2008 operations with 9 new stores, two are in
Cangzhou, five are in Beijing, two are in Shijiazhuang. The company has signed
up 15 new suppliers with audited online transaction of 1,682,200. The company
sum of distribution is 117,760; and income of membership is 48,000; the income
of distribution is 58,900. All sums reported in Chinese Yuan and converted in
USD in company filings.

In other company updates, Mr. Yang, a company spokesperson, said: "The company
has identified a couple of possible buyers for some of its North American
assets. We were particularly interested in small public companies or at least
much smaller size than us, and those that demonstrate vertical growth
opportunities in their sector. Our reasoning is twofold. One reason is we are
currently considering, and evaluating our corporate adviser's recommendation of
spinning out this sale proceeds as a 1 time special dividend to our
shareholders. At present, "insiders" own 80 million shares of GLCC. The second
reason is, as currently issued restricted shares mature and become free trading
(currently at 32 million shares), the company sees this dividend payment as one
of the first of several incentives to attract long term shareholders instead of
day traders and stock traders. GLCC is looking to reward its long term
shareholders with this dividend, and also to target a buyer whose business
growth will appreciate the dividends values for our shareholders far in excess
of the present purchase price or agreed value. The issuer will make further
updates on this planed sale/dividend, and expects to close the transaction in
the next 30-45 days."

Safe Harbor statement under the Private Securities Litigation Reform Act of
1995: Certain forward information contained in this release contains
forward-looking statements that involve risk and uncertainties, including but
not limited to, those relating to development and expansion activities, domestic
and global conditions, and market competition.

SOURCE Good Life China Corporation



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