Monday, April 10, 2017

Axion Ventures completed investment with BVI company

Axion Ventures Inc., formerly known as Capstream Ventures Inc., announced that the company closed its investment in the private British Virgin Islands-registered company Red Anchor Trading Corp, the company engaged in developing "HotNow" platform. The investment agreement between the two companies was primarily announced in October 2016.

CEO and Chairman of Axion Ventures commented: "We are very excited to complete the Investment... In the latter part of 2016 and the first quarter of 2017, we focused our team on forming our joint venture with True Corporation Public Company Limited and assisting Axion Games Limited with strategic advice on game development and launch, which are both progressing well." He also announced updated information on the progress of HotNow application.

The BVI company issued 9,375 ordinary shares to Axion at US$160 per share, in consideration for the US$1.5 million investment. This amount represents 15 per cent of the post-closing issued and outstanding voting shares of Red Anchor on a fully diluted basis. Axion received participation rights in any future security offering of Red Anchor that will allow it to maintain its proportionate interest in the BVI company; tag-along rights in the event of certain share transfers; nformation rights to monthly management reports and financial statements of Red Anchor; inspection rights; and the right to appoint at least one non-executive director to the Red Anchor board of directors.

Friday, March 24, 2017

BVI company acquires securities of Diana Containerships Inc.

Global shipping company Diana Containerships Inc. announced that it has entered into a Securities Purchase Agreement with British Virgin Islands-registered Kalani Invesments Limited, which is not affiliated with the company. The agreement is for the sale of 3,000 newly designated Series B-1 Convertible Preferred Shares, preferred warrants to purchase 6,500 Series B-1 Convertible Preferred Shares and preferred warrants to purchase 140,500 newly-designated Series B-2 Convertible Preferred Shares.

The gross proceeds from the sale of 3,000 Preferred shares will be approximately US$3.0 million. Further on, the shipping company will be paid US$6.5 million upon exercise of all of the Series B-1 Preferred Warrants, and US$140.5 million if Series B-2 Preferred Warrants are exercised. The company intends to use net proceeds from the sales for general corporate purposes and/or to repay indebtedness under one or more of existing credit facilities.

Saturday, March 4, 2017

NetDragon Websoft through its BVI subsidiary acquired shares in ARHT Media Inc.

NetDragon Websoft Holdings Limited announced in the press release the indirect acquisition, through its wholly owned BVI subsidiary NetDragon Websoft Inc., of beneficial ownerhsip of 13,333,333 common shares in the capital of ARHT Media Inc. Pursuant to the subscription agreement between the BVI company and the issuer, the price was CDN$0.15 per common share.

Upon closing of the Private Placement, NetDragon, through NetDragon BVI, has purchased direction and control over 13,333,333 common shares for aggregate holdings of 32,611,437 common shares, representing approximately 29.72 per cent of the issued and outstanding common shares.

Before the closing of the Private Placement the NetDragon controlled 19,278,104 common shares through NetDragon (BVI), representing approximately 19.99 per cent of the issued and outstanding common shares.

Monday, February 20, 2017

UK financial company signs LOI to acquire GVC Holdings Ltd

Financial services company Simian Global Plc signed a non-binding letter of intent to acquire BVI-incorporated GVC Holdings Ltd. in an all-share deal. As a result of the reverse takeover, if completed subject to due diligence and other criteria, shareholders of Simian Global will have minority interest in the enlarged group.

GVC Holdings Ltd is an unrelated and separate entity to London Stock Exchange-listed media and advertising company GVC Holdings Plc.

Simian Global PLC is the company headquartered in the UK, operating acquired business, strategy implementation, and working capital management services.

Friday, February 10, 2017

BVI-based RFW announced update on recapitalization transactions

RFW Banro Investments Limited, incorporated in the British Virgin Islands, announced that it or its affiliates will acquire direct or indirect beneficial ownership in an additional 278,138,715 common shares of Banro, pursuant to the support agreement entered into by RFW in respect of a plan of arrangement of Banro to effect a comprehensive recapitalization transaction.

Currently, RFW has direct or indirect ownership of 50,000,000 Common Shares, representing approximately 16.48% of the outstanding Common Shares, as well as ownership of warrants to acquire an additional 7,500,000 Common Shares, and US$20mln of preferred shares exchangeable for 29,256,766 Common Shares at a price of US$0.5673 per Common Share. Subject to the terms and conditions of the plan, the BVI company would have direct or indirect ownership of 328,138,715 Common Shares, which represent approximately 29.87% of the total amount of Common shares expected to be outstanding. Also, RFW agreed to purchae for cash up to US$50mln in principal amount of 10% senior secured notes.

Friday, January 27, 2017

Northwestern Enterprises purchased 4.2% of Aura MInerals common shares

BVI-incorporated company Northwestern Enterprises Ltd. had acquired 1,400,000 common shares of Aura Minerals, pursuant to a private share purchase agreement. The shares were bought for a total price of US$1,486,962, or US$1.062 per share, and represent approximately 4.2% of Aura's issued and outstanding common shares.

Upon the completion of the Private Purchase transaction, the BVI company owns or controls over 17,589,075 common shares which is approximately 52.6% of Aura's issued and outstanding common shares.

The transaction was completed as part of Northwestern's review of its investment holdings, and to permit it to increase its ownership in Aura.

Tuesday, January 17, 2017

North West Company Inc. acquires 76 per cent shares in BVI retailer

North West Company Inc., Canada-based retailer with presence in the Caribbean countries, and Roadtown Wholesale Trading Ltd., a privately-held company with retail outlets and wholesale operation working in the British Virgin Islands, entered into definitive purchase agreement for the acquisition of 76% shares of Roadtown Wholesale. The approvals to operate the company under North West majority ownership have been received from the BVI government, and the transaction was approved by the Board of Directors of both parties.

The Canadian company will pay for 76% interest in the BVI retailer approximately US$32 million, and US$5 million in acquisition related costs including stamp duties to the government of the British Virgin Islands.

The acquisition transaction is expected to close in February, 2017, and is to contribute approximately US$5 million of annualized net income to North West, which will pay about 90% of the purchase price in cash, and 10% through issuance of North West common shares. After the acquisition, RTT will continue to operate under the same trade names, Riteway Food Markets and Roadtown Wholesale Trading.

Tuesday, January 3, 2017

China Natural Resources completed acquisition of Bolivian company

In the end of the year, China Natural Resources, Inc., the company headquartered in China and incorporated in the BVI, had completed the acquisition of Bolivian corporation Planta Metalurgica Antay Pacha S.A. Planta Metalurgica proposes to operate a copper smelting plant in western Bolivia, and is completing the licensing procedure. The trial run is expected to start in the second quarter of 2017, and commercial production will start in the fourth quarter of the year. The purchase price of US$1,541,129 includes US$1,441,129 of debt that is payable upon demand.

CEO of China Natural Resources commented on the acquisition: "We are excited about the prospects of adding a copper smelter to our mining operations in the PRC and believe that Bolivia, a country abundant in various natural resources, offers us the opportunity to diversify our operation. We will continue to explore new businesses opportunities to contribute to revenues and enhance shareholder values."

Tuesday, December 27, 2016

Whole owner of BVI-based company entered into Loan Agreement

MIE Holdings Corporation, which is the whole owner of BVI-incorporated company MIE Maple Investments limited, announced that on 16 December 2016 it entered into the loan agreement with G-O Scale Capital Management Co, LLC, a limited liability company incorporated in the United States of America and the management company for GO Scale Capital.

Under the terms of the agreement, MIE Holdings Corporation agreed to grant a loan of US$30mln to the borrowing company, for a term of 6 months, with annual interest of 9 per cent. The loan is a discloseable transaction for MIE Holdings Corporation, and is subject to reporting.

It is a short term investment for the group with good risk return profile, and gives the opportunity for the group to gain exposure to the high growth renewable energy sector. The terms of the loan agreement are negotiated between MIE Holdings and G-O Scale Capital Management Co, LLC on an arm's length basis.

Wednesday, November 30, 2016

Eco Atlantic sold the interest of its wholly owned subsidiary

BVI-based oil and gas exploration company Eco Atlantic Oil & Gas Ltd. has entered into a Share Purchase and Sale Agreement, through its wholly owned subsidiary Eco Atlantic Ghana Limited, which holds company's interest in the Three Point West Deep Water Offshore Block Ghana’s economic waters . According to the agreement, Eco Atlantic sold its total interest in Eco Ghana to PetroGulf Ghana Limited.

Under the terms of the agreement, the BVI company is entitled to receive US$576,580 as reimbursement for past operating expenditures owed to the company on the Block, and the purchasing company assumes all obligations of Eco Ghana related to the sold block.

The sale has received the consent of GNPC as required by the Petroleum Agreement, and the consent of GNPC Explorco as required by the Joint Operating Agreement.

Sunday, November 20, 2016

DryShips Inc. signed purchase agreement with BVI company

Nasdaq-traded international company DryShips Inc. has entered into a Securities Purchase Agreement with Kalani Investments Limited, which is incorporated in the British Virgin Islands and not affiliated with the company. The agreement is for the sale of 20,000 newly designated Series E-1 Convertible Preferred Shares, preferred warrants to purchase 30,000 Series E-1 Convertible Preferred Shares, preferred warrants to purchase 50,000 newly designated Series E-2 Convertible Preferred Shares, prepaid warrants to initially purchase an aggregate of 372,874 common shares, and 100 common shares. 

The BVI company is entitled to receive 10,000 common shares but is electing to receive 100 common shares and the prepaid warrant will be immediately exercisable for 9,900 common shares. Gross proceeds from the sale will be approximately US$20 million, and DryShips may further receive up to an aggregate of US$80 million. The proceeds from the sale transaction will be used by the company for general corporate purposes and/or to repay indebtedness under its credit facilities.

Saturday, November 5, 2016

Capstream Ventures investing in BVI company shares

An investment issuer Capstream Ventures Inc. entered into an investment agreement with Red Anchor Trading Corp., a British Virgin Islands-registered company mainly operating in Bangkok, Thailand. Red Anchor is engaged in developing "HotNow" application, which is a marketing automation platform for retailers to offer various promotions in genres of their interests and within their proximity.

According to the Investment Agreement, Capstream has agreed to invest US$1.5 million in the BVI company, to purchase 9,375 of its ordinary shares, which make 15.9% of its voting shares on a fully diluted basis. The investment proceeds will be used for funding working capital of Red Anchor. The Agreement is subject to final TSXV approval.

Thursday, October 27, 2016

Chaarat Gold Holdings completed block trade of shares

Exploration and development company Chaarat Gold Holdings Limited, domiciled in the British Virgin Islands and listed on AIM market, announced the successful completion of a block trade of 11,671,832 ordinary shares of US$0.01 each on 21 October 2016. The traded shares represent 3.3% of the issued share capital of the BVI company, and the trade was completed at a price of 8.5 pence per share to place the entire shareholding of First State Investment Management (UK) Limited. More than 50 per cent of the shares were taken by new shareholders.

Having purchased 587,647 ordinary shares, Labro Investments Limited held 113,764,572 ordinary shares of US$0.01 each, representing 32.3% of the issued share capital of Chaarat Gold Holdings. BVI company's chairman Martin Andersson has indirect beneficial interest in the majority of the Labro shares.

Following the purchase of 1,150,000 ordinary shares, non-executive director of Chaarat, Martin Wiwen-Nilsson, held 8,476,010 ordinary shares, representing 2.4% of the issued share capital of the company. Following the purchase of 2,550,000 ordinary shares, Sarastro Group Limited held 16,021,166 shares making 4.6% of the issued share capital of the company.

11,712,996 ordinary shares may be acquired by the concert party consisting of Labro, Martin Wiwen-Nilsson, Dominik Dolenec, Abingdon Trust, Willem De Geer and Sarastro, within 6 months from 1 October 2016.

Monday, October 10, 2016

Origin Agritech signed agreement to sell its seed production and distribution business

BVI-registered crop seed biotechnological company Origin Agritech Ltd. entered into a definitive agreement for sale of its China-based commercial corn seed production and distribution business to Beijing Shihui Agricultural Development Co, Ltd., an internet enterprise providing agricultural products and technology services to farmers, suppliers and agriculture-related enterprises in China. The business is sold for approximately USD$60 million as part of company management's plan to develop Origin as a global seed germplasm and biotech trait leader. It is considered that the sale of Origin's commercial seed business would strengthen its balance sheet and enable it to focus on biotechnology trait and seed germplasm research.

The transaction is expected to be closed in the first quarter of 2017, and is subject to customary closing conditions and shareholder approval. According to the agreement, the buyer of BVI company's business will enter into separate license agreements, to pay a royalty stream for the present and future product portfolio, and a technology access fee for the research and development.

By words of Origin CEO Bill Niebur, through this transaction and the development of North American non-GM business, the company is setting the stage for compelling growth opportunities.