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| |  Background - Merger of Homeland with Chrysalis Capital IV Corporation - February 2008 Homeland Energy Group Ltd. (formerly known as Chrysalis Capital IV Corporation) ("Homeland" or the "Company") was incorporated under the Canada Business Corporations Act on October 12, 2006. The Company was set up as a capital pool company ("CPC") under the policies of the TSX Venture Exchange and was listed on February 12, 2007. On June 13, 2007, the Company entered into an agreement with Homeland Energy Corp. pursuant to which the Company agreed to acquire all of the issued and outstanding common shares of Homeland Energy Corp. This transaction constituted a Reverse Take-over ("RTO") of the Company by Homeland Energy Corp. inasmuch as the former shareholders of Homeland Energy Corp. now own a substantial majority of the outstanding common shares of the Company, and five of the six members of the board of directors of the Company are designees of Homeland Energy Corp. Prior to the merger, the Company consolidated its common shares on a one-for-two basis and Homeland Energy Corp. split its common shares on a four-for-one basis. Upon the merger, the Company then issued one common share for each common share of Homeland Energy Corp. issued and outstanding immediately prior to the merger. The outstanding options, warrants and other convertible securities of Homeland Energy Corp. are exercisable for common shares of the Company based on the same exchange ratios. The Company lodged its Filing Statement (see below) on SEDAR on February 20, 2008 as the next significant step in the RTO of the CPC by Homeland. The principal business activity of the Company changed to become the acquisition, exploration and development of energy related resource properties in southern Africa. Homeland Energy Group Ltd. is now a producing coal company. Following the closing of the qualifying RTO transaction on February 29, 2008, the traded entity was called Homeland Energy Group Ltd. and began trading on the Toronto Stock Exchange on March 5, 2008under the assigned ticker symbol of "HEG". To view the Filing Statement of February 20, 2008, click here. To download the Canada Revenue Agency Form T2057 click here. News The following news releases relate to the above noted merger transaction: December 31, 2007 - (Issued by Chrysalis for) Chrysalis Extends Offer to Acquire Homeland February 22, 2008 - Homeland Energy Corp. and Chrysalis to Close Qualifying Transaction on February 29th March 5, 2008 - Homeland Energy Group Ltd. Begins Trading on the Toronto Stock Exchange (TSX:HEG) Today |
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© 2008 Homeland Energy Corp. | Disclaimer | Glossary |
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