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.

Saturday, October 1, 2016

BVI company investing in Cadillac Ventures Inc., private placement announced

Cadillac Ventures Inc. has announced a proposed investment of US$900,000 through a non-brokered private placement, from three independent investors to acquire 18 million units at US$0.05 each, with each unit consisting of one common share and one warrant exercisable at US$0.05 to acquire one common share for a period of 24 months. After the issuance of the units the company will have a total of 52,669,881 common shares.

One of the new investors is British Virgin Islands-incorporated Best Path Developments Limited which will hold 7,571,364 common shares making 14.375%. If the unit warrants were exercised it could control 25.1% of Cadillac. The BVI company is controlled by Mr. Youliang Wang who is to be appointed as Chairman of Cadillac and a member of its Board of Directors. The other two purchasers acquire 9.9% of Cadillac, so the exercised warrants will be over 10%.

The private placement is planned to close on October 3, 2016. A four month hold period will apply to the issued securities. The proceeds from the private placement will be used for general working capital.

Saturday, September 24, 2016

MIE Maple Investments announced acquisition of Journey Energy shares

MIE Maple Investments Limited, incorporated under the law of the British Virgin Islands and headquartered in Hong Kong, announced the acquisition of 16,355,798 common shares and restricted voting shares in the capital of Journey Energy Inc, pursuant to the share purchase agreement signed at September 15, 2016. The shares were purchased from Infra-PSP Partners Inc. for total consideration of US$33,846,602 (approximately US$2.069 per share).

Acquisition is expected to close on or before September 30, 2016, and upon this moment the BVI company will get ownership of 37.5 per cent of the issued and oustanding shares of Journey Energy. MIE did non hold any shares before the acquisition.

The BVI company acquires shares for investment purposes. It may buy additional shares either on the open market or through private acquisitions, or sell them privately or on the open market.

MIE Maple Investments is a wholly owned subsidiary of MIE Holdings Corporation, which is an independent oil and gas company working in China, Kazakhstan and the US.

Friday, September 16, 2016

BVI start-up company announced acquisition of Swedish software provider

BVI-incorporated Luxoft Holding, Inc., providing software development services and IT solutions, has announced the acquisition of Pelagicore AB, a Swedish company providing open source software platforms and services for in-vehicle infotainment systems. Pelagicor has strong relationships with premium automotive OEMs, Tier-1s and silicon vendors. It is a co-founder of automotive specific Qt Automotive Suite, and its approach to system design is highly complementary to Luxoft's business model.

According to Luxoft Automotive Managing Director Georg Doll, this is a strategic acquisition for Luxoft, strengthening company's leadership in providing for IVI and HMI development needs for global automotive and Tier-1 manufacturers.

By words of Pelagicore CEO Alwin Bakkenes, company's clients are also to benefit from Luxoft's complementary expertise in design, instrument cluster, advanced driver assistance systems and autonomous driving, connectivity, and navigation technologies.

Friday, July 29, 2016

Northwestern Enterprises acquires shares of Rio Novo Gold Inc.

BVI company Northwestern Enterprises Ltd entered into binding agreements with two separate sellers, for the acquisition of ownership of an aggregate of 95,480,414 ordinary shares of Rio Novo Gold Inc., in private transactions at a price of US$0.092 per share. The shares will be purchased on or before August 22, 2016, subject to customary closing conditions. The purchased shares represent approximately 63.03% of the issued and outstanding ordinary shares of the company.

Concurrently with the completion of this transaction, BVI company's owner plans to cause 3,557,000 ordinary shares to be transferred from Sercor Ltd to Northwestern (both companies controlled by the same person). This amount represents approximately 2.35% of the issued and outstanding ordinary shares.

After the acquisition and the transfer, Northwestern Enterprises will hold 99,037,414 ordinary shares representing approximately 65.4% of the issued and outstanding ordinary shares of Rio Novo.

Wednesday, July 20, 2016

Polo Resources announced new share issue

Polo Resources Limited, the natural resources investment company having interests in oil, coal and metals, has issued 9,832,358 new ordinary shares as consideration for the transaction with Blackham Resources announced in June.

The application has been made for the consideration shares to be admitted to trading on AIM on 25 July 2016. The enlarged issued share capital of the BVI company will amount to 311,789,151 ordinary shares of no par value each, with one vote per share.

Monday, July 4, 2016

BVI group completed acquisition of Finance Bank Zambia Limited

BVI-domiciled financial services group Atlas Mara Limited has completed the acquisition of 100 per cent of Finance Bank Zambia Limited and its subsidiaries, for consideration of approximately US$61 million in cash and 3.3 mln of BVI group's shares, not including deferred contingent consideration of up to 1.3 million Atlas Mara shares. Finance Bank Zambia Limited will be combined with African Banking Corporation Zambia Limited, which is a Zambian subsidiary of Atlas Mara Limited. The merged bank, with combined assets of approximately US$567 million as at December 31, 2015, will be one of the largest banks in terms of branch footprint in Zambia. Its physical presence will increase from 23 to 65 branches, 176 ATMs and 23 agencies.

CEO of the BVI financial group said in his comments: "The acquisition of FBZ is another important step in the execution of Atlas Mara's strategy to build sub-Saharan Africa's premier financial institution, in part, by becoming a scale participant in our countries of operation, which this transaction will achieve for us in Zambia..."

Tuesday, June 14, 2016

BVI company to increase its stake in Blackham Resources

Polo Resources Limited, the natural resources investment company registered in the British Virgin Islands, has informed of its intention to exercise its right to purchase further 49 per cent of Perfectus Management Ltd for A$3.0mln, to be satisfied by the issue of 9,832,358 new ordinary shares of Polo Resources, at a price of £0.15 per share.

As at 24 May 2016, Perfectus had unaudited net assets of US$4.68 million (approximately £3.24 million or A$6.35 million). Perfectus owns 5,888,495 ordinary shares in Blackham Resources Limited issued fully paid ordinary share capital. Polo directly holds a further 14,761,905 (5.83 per cent) of Blackham ordinary shares.

Sunday, May 22, 2016

Talon Metals sold all its shares in Tlou Energy

Talon Metals Corp., a TSX-listed exploration and development company domiciled in the British Virgin Islands, has made an announcement that it has sold all of its shares in Tlou Energy Limited, for gross proceeds of approximately C$600,000.

Sean Werger, the president of Talon Metals, said in his comments on the transaction: "We are pleased that we have been able to increase our treasury through the sale of our shares in Tlou Energy ... The Company's sole focus is working with Kennecott Exploration Company to move the Tamarack Project towards becoming a tier 1 project. Going forward, we will continue to opportunistically seek ways to divest of our remaining non-core assets, and increase our cash position."

Monday, May 9, 2016

Canadian retailer acquires majority shares in BVI-operating Roadtown Wholesale Trading Ltd

The North West Company Inc., which is a Canada-based retailer of food and everyday products and services to rural communities and urban neighbourhoods in Canada, Alaska, the South Pacific and the Caribbean countries, entered into letters of intent to purchase the majority of shares of Roadtown Wholesale Trading Ltd., operating as Riteway Food Markets in the British Virgin Islands. Riteway is a privately held company with seven retail outlets, one Cash&Carry, and one wholesale operation serving the British Virgin Islands. The proposed transaction is subject to a definitive purchase agreement and government approvals.

The Canadian company will continue to operate the business under the trade names Riteway Food Markets and Roadtown Wholesale Trading. Certain Riteway shareholders will continue company’s ownership and will be represented on its Board of Directors. Also, the BVI company will become an administration headquarters for North West’s stores across the Caribbean territory.