Golden Bridge Development Corporation Announces Signing of Agreement
18.11.2014 | Newsfile
Toronto, Ontario -- (Newsfile Corp. - November 18, 2014) - Golden Bridge Development Corporation (TSXV: GBD) ("Golden Bridge," or the "Company") announces that the Company has entered into an agreement (the "Agreement") with CIM Invests Development Inc. ("CIM"), a Canadian corporation with experience in commercial and residential real estate development, and 8303118 Canada Ltd. ("8308118 Canada").In accordance with the Agreement, the Company, CIM and 8308118 Canada have invested in a newly established Ontario corporation, GBD CIM Properties Inc. ("GCP"), whereby Golden Bridge has subscribed for 980 voting shares, at a subscription price of $0.05 per share totaling $49, in the capital of GCP representing 49% of the issued and outstanding shares in the capital of GCP. The remaining 51% of the issued voting shares of GCP were acquired by CIM (46%) and 8308118 Canada (5%) respectively. Golden Bridge will be represented on the Board of GCP with two nominated Directors out of a total five members of the Board of Directors of GCP.
GCP will identify, source investment funds for, and act as a general partner of limited partnerships created to hold and manage, commercial and residential real estate investments. GCP or its subsidiaries shall earn fees for such services. The TSX Venture Exchange has approved this Agreement and which remains subject to certain conditions specific to the Company going forward.
About Golden Bridge
Golden Bridge was incorporated under the laws of the Province of Ontario and is engaged in mineral resource exploration and development in Canada. The Company is classified as a Tier 2 "Mineral Exploration" issuer company listed on the TSX Venture Exchange
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ON BEHALF OF THE BOARD
"Charles Qin"
Charles Qin, Chief Executive Officer and Director
For further information:
Golden Bridge Development Corporation
Charles Qin, Chief Executive Officer and Director
30 Wertheim Court, Unit 9B,
Richmond Hill, Ontario, Canada L4B 1B9
Telephone: (905) 604-2351