IND Indy Diarytech Limited Com

VANCOUVER, July 22, 2011 /CNW/ -- VANCOUVER, July 22, 2011 /CNW/ - IND DairyTech Limited ("IND" or "the Company") (TSXV: IND) announced today that it expects to voluntarily halt trading of the Company's common shares (the "Shares") on the TSX Venture Exchange (the "Exchange") at the close of the markets on July 25, 2011.  The trading halt is being proposed to facilitate the closing and settlement of the Company's proposed take private transaction, which is currently being scheduled for July 29, 2011.  The trading halt will remain in effect until the Shares are delisted from the Exchange. About IND DairyTech Limited IND, through its operating subsidiaries, is an emerging raw milk and Holsteins producer in China that is seeking to become a leading provider of high quality raw milk and Holsteins to the Chinese dairy industry. To meet China's increasing demand for dairy products, the Company is using Canadian cattle genetics and North American farming practices to establish and develop its dairy herd in China. The Company plans to develop its herd in China through the use of advanced breeding techniques employing Canadian Holstein embryos that it intends to use to impregnate surrogate cows. These embryos have been created through in vitro fertilization using sexed semen to achieve an approximate 90% female birth rate. The use of these advanced breeding techniques is expected to allow the Company to rapidly expand its herd. The use of Canadian Holstein embryos also provides a practical solution to China's ban on the import of live Canadian cattle. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Forward-Looking Statements: This news release contains forward-looking statements relating to the proposed trading halt and the proposed take private transaction of the Company, including statements regarding the proposed trading halt. Such forward-looking statements are subject to important risks, uncertainties and assumptions. The results or events predicted in these forward-looking statements may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on these forward-looking statements. The completion of the proposed take private transaction is subject to a number of terms and conditions, including, without limitation: (i) approval of the TSX Venture Exchange; (ii) required shareholder approvals; (iii) support of certain remaining shareholders who will not receive any consideration as a result of the proposed take private transaction; and (iv) certain termination rights available to the parties under a support agreement dated June 28, 2011 (the "Support Agreement"). These approvals may not be obtained, or the conditions of the proposed take private transaction may not be satisfied in accordance with their terms, and/or the parties to the Support Agreement may exercise their termination rights, in which case the proposed take private transaction could be modified, restructured or terminated, as applicable. The forward-looking statements contained in this news release are made as of the date of this release. Except as required by applicable law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. For additional information with respect to certain of these and other assumptions and risks, please refer to the management circular to be filed by the Company with the applicable securities commissions, which will be available at www.sedar.com.   To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/July2011/22/c7129.html table valign="top" border="0" tr valign="top" td valign="top" align="left" Jesse Zhubr/ Chief Executive Officerbr/ IND DairyTech Limitedbr/ 604-522-1619 /td td   /td td valign="top" align="left" Selen Zhoubr/ Corporate Secretarybr/ IND DairyTech Limitedbr/ 604-522-1619 /td /tr /table p   /p

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