Agricon Global Corporation (Formerly BayHill Capital Corporation) Announces Completion of Merger With Canola Property Ghana Limited
LEHI, UT — (Marketwire) — 04/04/12 — Agricon Global Corporation (“Agricon,” formerly BayHill Capital Corporation) (OTCBB: BYHL) announced today the completion of its acquisition of Canola Property Ghana Limited (“CPGL”) effective March 31, 2012. This project enables Agricon to pursue its objective of engaging in large-scale crop farming in Ghana. The transaction will be accounted for as a reverse merger with CPGL as the surviving company and remaining as a wholly owned subsidiary of the Company. The new shareholders from the CPGL transaction will own about 66% of the Company in the form of 12,000,000 shares of newly issued common stock issued under the Stock Exchange Agreement. The Company recently changed its name from BayHill to Agricon to reflect this new focus and the Company will soon apply for a new trading symbol.
Agricon announced further that it has received cash of $500,000 and subscriptions for $110,000 toward its continuing private placement of up to 2 million shares for a total of $1,000,000.
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