Monday, February 7, 2011

Foxpoint Capital announced an update on the proposed Qualifying Transaction with BVI company

A capital pool company Foxpoint Capital Corp. announced that it has entered into an amendment to the non-binding letter of intent signed on November 8, 2010 between Foxpoint and Touchstone Investment Holdings Limited, incorporated under the law of the British Virgin Islands. The amendment extends the term of the letter of intent to April 30, 2011.

The parties to the agreement are progressing the final structuring and execution of a definitive business combination agreement for the transaction which will be structured as a merger between Touchstone and a wholly-onwed subsidiary of Foxpoint. The proposed merger will constitute the Qualifying Transaction.

The BVI company is the 100% indirect owner of the Rio Pescado gold property located in Colombia.