AlphaRx, Inc. to enter in a stock transaction with Pacific Orient Capital

Pharmaceutical company AlphaRx, Inc. announced that its Canadian subsidiary AlphaRx Canada Limited and a Canadian TSX-listed company Pacific Orient Capital, Inc. signed a non-binding letter of intent under which AlphaRx Canada Limited and Pacific Orient will combine in a stock transaction. The combined company will be named Pacific Orient BioPharma Group. It is planned to be an innovative high tech enterprise engaging in branded generic drug development, market promotion and distribution in China and other markets.

Following completion of the transaction, Pacific Orient BioPharma Group will have a total of 10,000,000 common shares outstanding, 55% of which will be owned by AlphaRx International Holdings Limited, a corporation incorporated under the laws of the British Virgin Islands and 80% owned by AlphaRx Inc.

Under the terms of the letter of intent, Pacific Orient will issue 5,500,000 of its common shares at a deemed price of C$0.60 per share in exchange for all the issued and outstanding shares in the capital of AlphaRx Canada Limited and the marketing rights of Indaflex for Asia and Mexico. In conjunction with the transaction, Pacific Orient will conduct private placement to raise a maximum of C$1,500,000 by issuance of common shares at C$0.60 per share.

The transaction is anticipated to be completed by the third quarter of 2010. Common shares of the combined company will be listed on the TSX Venture Exchange.

China Medical System issued shares to BVI corporation

China Medical System Holdings Ltd. has signed an agreement with its Executive Director Mr. Hui Ki Fat to acquire the remaining 40 per cent stake in Sky United Trading Ltd., by issuing and allotting 263,833 new ordinary shares of US$0.1 each to Archiever Development Ltd., a company incorporated in the British Virgin Islands and wholly owned by Mr. Hui Ki Fat. Currently China Medical System holds 60 per cent stake of Sky United Trading Ltd. through Sino Talent limited.

By terms of the agreement with Mr. Hui Ki Fat, China Medical System Holdings issued the New Shares, representing approximately 0.55 per cent of the enlarged share capital of the company, to the British Virgin Islands company. The remaining 40 per cent shareholding in Sky United has transferred to Sino Talent Limited.

Sky United, a company incorporated in Hong Kong, is mainly engaged in the import of pharmaceutical products into China through Hong Kong.

The U.S. exploration company enters into Purchase and Sale Agreement with a BVI corporation

Arkanova Energy Corporation, an exploration and junior production company engaged in the acquisition, exploration and development of oil and gas properties in the North American areas, made an announcement that its subsidiary entered into a Purchase and Sale Agreement with a British Virgin Islands-registered corporation Knightwall Invest, Inc. Pursuant to this agreement, dated April 9, 2010, Arkanova's subsidiary Provident Energy Associates of Montana, LLC, agreed to sell to Knightwall, and Knightwall agreed to purchase, 30 per cent of the leasehold interests comprising Provident's Two Medicine Cut Bank Sand Unit in Pondera and Glacier Counties, Montana, and the equipment, parts, machinery, fixtures and improvements located on, or used in connection with, the Unit, for a purchase price of $7,000,000. The closing of the transaction is planned on August 6, 2010.

Knightwall is a lender to the registrant, and it currently has an outstanding loan to the registrant of $330,000 in principal amount bearing interest at the rate of 10% per annum and due and payable by the registrant on May 29, 2010, plus interest of $33,000. The note of $363,000 will be renewed on May 29, 2010, and then the total amount will be paid in full from the portion of the Purchase Price to be paid by Knightwall on July 8, 2010.

Black Marlin Energy Holdings Limited announced completion of acquisition of Black Marlin Energy Limited

Black Marlin Energy Holdings Limited, formerly known as Kristina Capital Corp., has completed on March 18, 2010 its previously announced acquisition of all of the issued and outstanding securities of the British Virgin Islands company Black Marlin Energy Limited. Pursuant to the transaction, a wholly owned subsidiary of the corporation, incorporated in the British Virgin Islands and established solely for the purposes of participating in the transaction, merged with Black Marlin Energy Limited, all of the outstanding common shares of the company being exchanged for common shares in the capital of the corporation on a one for one basis at the price of $0.50 per share, Black Marlin Energy Limited becoming the wholly owned subsidiary of the corporation.

Prior to the transaction, the corporation received shareholder approval to consolidate the common shares of the corporation on a two for one basis, to remove from Alberta to the British Virgin Islands, and to change the name to Black Marlin Energy Holdings Limited.

A total of 134,252,458 BMEL's shares were issued and outstanding immediately prior to the completion of the transaction, which shares were exchanged for 134,252,458 common shares pursuant to the transaction, BMEL becoming the wholly-owned subsidiary of the corporation. Following the completion of the Private Placement and the Transaction, a total amount of 202,494,458 common shares are issued and outstanding.