Tuesday, September 29, 2009

BVI company sells control of Bozel S.A. to Trillian Exploration Corporation

Trilliant Exploration Corporation, a producing mineral exploration and development company headquartered in New York and having its principal operations in Southern Ecuador, South America, entered into an agreement with the British Virgin Islands-registered Wellgate International Limited. As a result of this agreement, Trilliant will purchase full stock of BVI company's shares of Luxembourg-registered company Bozel S.A.

Under the terms of the Agreement, Trilliant shall purchase up to 100% of the outstanding capital stock of Bozel, on a fully diluted basis, in exchange for US$80,000,000 of the common stock of the Registrant. As part of the acquisition, Trilliant will also advance to Bozel a cash loan of US$ 20,000,000.

The consolidated operations of Trilliant Exploration plan to reach the amount of 750 tons-per-day within the next 18 months.

Thursday, September 24, 2009

BVI-registered Pluris Energy enters into share exchange agreement with Nationwide Energy

British Virgin Islands-registered company Pluris Energy Group Inc., an international energy company engaged in the acquisition and development of producing oil and gas interests in South America, announced that on August 27, 2009 it entered into a Share Exchange Agreement with Nationwide Energy Portal Inc., a Texas-based developer and provider of a proprietary software based energy portal. By terms of the agreement, Pluris will acquire through a reverse merger full stock of Nationwide Energy, which is currently a privately held company. Nationwide shareholders will receive 150,000,000 common shares of the BVI company. Escrow agreement between the companies will be entered into prior to the closing date of September 30, 2009.

After closing the transaction, Nationwide will become a wholly-owned subsidiary of Pluris Energy, and approximately 80 per cent of BVI company's stock will be controlled by the Nationwide shareholders. Nationwide will take over management of Pluris Energy, will appoint a new Board of Directors, and will pursue the continuation of the current Nationwide's business model of developing and deploying proprietary software architecture.

Also, by terms of the agreement, two wholly owned subsidiaries of Pluris Energy Group, BVI-registered Pluris Energy Group Inc. and Argentinian company Pluris Sarmiento Petroleo SA, must be divested of all their liabilities being transferred from Pluris Energy. Additional terms of the Agreement set out that the books of the company can not retain amounts greater that $175,000 in outstanding debts due and owing at the Closing Date.

As a result of the subsidiary divestiture requirements, on August 29 Pluris Energy sold all of its rights, title and interests in the subsidiaries for the transfer and assumption of approximately $1.3 mln owing to company's creditors. Additionally, the company received indemnification for up to $1.0 mln for any other previous liabilities that might arise from its operations prior to the closing of the agreement.

Sunday, September 20, 2009

IAG stockholders approve merger with BVI-registered Sing Kung Ltd

On September 9, 2009, California-based InterAmerican Acquisition Group Inc. (IAG) informed that its stockholders approved the proposed business combination with Sing Kung Limited, a British Virgin Islands company engaged through its wholly owned Chinese subsidiary in the planning and implementing urban projects for municipal and provincial governments of China. Having approved this previously announced business combination, IAG's stockholders also approved the redomestication of the company from Delaware to the British Virgin Islands, and the other matters related to redomestication. The closing date of the deal is September 9, 2009.

IAG, which was formed for the purpose of acquiring, through a merger, stock exchange, asset acquisition, etc., an unidentified operating business, entered into an agreement with BVI-based holding company Sing Kung in May 2009. By terms of the agreement, IAG acquires 89.6% of the capital stock of Sing Kung. Subsequent to the transaction and upon redomestication to the British Virgin Islands, IAG expects to change its name to CNC Development Ltd., and continue trading on the OTC Bulletin Board under the symbols IAQG, IAQGW and IAQGU.

Tuesday, September 15, 2009

BVI-registered Chaarat Gold Holdings receives government approval for subscription by Chinese company

British Virgin Islands-registered holding company Chaarat Gold Holdings Ltd announced that it received the regulatory approval of the Chinese Government concerning the subscription by China Nonferrous Metals Int'l Mining Co Ltd (CNMIM) for 22,469,289 shares in the BVI company at 25p per share. The signing of subscription agreement between Chaarat Gold Holdings and CMIM was announced in July 2009. Now, upon the receive of government approval, the BVI company applied for the admission of placing shares to trading on the London Stock Exchange AIM market. The admission is expected to take place on or about September 14, 2009.

Following the admission of the placing shares, the existing issued share capital of Chaarat Gold Holdings will increase from 90,441,714 ordinary shares of $0.01 each to 112,911,003 ordinary shares. The total number of voting rights which will be attached to the enlarged share capital on the basis of one vote per ordinary share will be 112,911,003.

Wednesday, September 9, 2009

Singapore textile company enters into acquisition deal with BVI-registered holding group

A Singapore-based company Ban Joo & Company Limited, designing, manufacturing and distributing of textiles and household items, has entered into conditional sale and purchase agreement with purpose to acquire the entire issued share capital of Telemedia Pacific, Inc. and Telemedia Pacific Incorporation Limited. The companies are to be purchased for from the British Virgin Islands-based investment holding Telemedia Pacific Group Limited.

Both subsidiaries of the BVI holding company are engaged in business connected to a submarine fiber optic cable which is to be constructed and laid between Hong Kong and Indonesia. Telemedia Pacific, Inc. is registered in the British Virgin Islands, while Telemedia Pacific Incorporation Limited is registered in Hong Kong.

By terms of the agreement, the $260.89 mln consideration will be satisfied immediately upon the allotment and issue of 3,582,380,952 new ordinary shares in the capital of Singapore company, at an issue price of $0.07 for each consideration share.

The acquisition will give an opportunity for Ban Joo & Company to venture into the cable business and the cable and exit the textile business. Also, upon the closing of the transaction the Singapore company will be able to address the growing demand for broadband transmission between HK and Indonesia.