Tuesday, June 28, 2011

China Security & Surveillance Technology to continue private transaction with BVI company and its subsidiaries

China Security & Surveillance Technology, Inc. (CSST), China-based company providing integrated surveillance and safety solutions, received an approval notice from the Dubai Financial Services Authority for its application for a waiver from the provisions of the DFSA Takeover Rules Module.

The company applied for the waiver in order to proceed with the going private transaction contemplated by the Amended and Restated Agreement and Plan of Merger with the following companies: the British Virgin Islands-registered company Rightmark Holdings Limited, which is the wholly owned subsidiary of another BVI company, Intelligent One Limited, wholly owned by CSST's chairman and CEO Mr. Guoshen Tu; and Rightmark Merger Sub Limited, Delaware-incorporated company wholly owned by the BVI-based Rightmark and Mr. Guoshen Tu.

The waiver will remain effective provided that the company's common stock remains suspended from trading on Nasdaq Dubai. CSST's common stock has been suspended from the official list of Nasdaq Dubai since May 22, 2011, after the company had notified in writing of its intention to voluntarily delist its securities. It is expected to be completely delisted on or about July 21, 2011.

Monday, June 13, 2011

Goldbard Capital Corporation announced business combination with BVI company

The TSX-listed company Goldbard Capital Corporation entered into an arm's length binding Business Combination Agreement with Eco Oil & Gas Ltd., a non-reporting issuing company domiciled in the British Virgin Islands. Under the terms of this agreement, Eco Oil will become a wholly owned subsidiary of Goldbard, subject to a number of conditions. The business combination will constitute a reverse take-over of Goldbard under the policies of the exchange.

Pursuant to the agreement, Goldbard formed a new corporation for the purpose of amalgamating with the BVI-registered Eco Oil. As a condition of the transaction, Goldbard will hold shareholders meeting to approve the RTO pursuant to the rules and policies of the Exchange. Shareholders will also be asked to approve a consolidation of the common shares of Goldbard on the basis of 2.5 old shares for 1 new share, and to approve a continuance of Goldbard to British Columbia, and a change of the Resulting Issuer's name to "Eco (Atlantic) Oil & Gas Ltd.".

Goldbard Resources Inc. is a wholly-owned subsidiary of Goldbard, also incorporated under the British Virgin Islands law.

Upon the combination of Eco and Goldbard Resources Inc., holders of ordinary shares in Eco capital will receive 1.25303867 consolidated shares for each share of the BVI company, at a deemed price of US$0.50 per one consolidated share.

Upon closing of the RTO Goldbard will issue 45,360,000 consolidated shares to the holders of Eco shares and replacement warrants to holders of Eco Warrants, entitling them to purchase 3,759,116 consolidated shares.

Wednesday, June 1, 2011

SMSA Treemont Acquisition Corp. merges with BVI company

Texas-based SMSA Treemont Acquisition Corp. announced that it had consummated a Share Exchange Agreement with the British Virgin Islands company Xiangrui Pharmaceutical International Limited (XPI) and its sole shareholder.

According to the agreement, SMSA acquired 100% of the issued and outstanding capital stock of XPI from its shareholder, which now owns approximately 93% of the 13,294,500 issued and outstanding shares of SMSA. Additionally, designees of XPI's sole shareholder took director and officer positions with SMSA. SMSA will succeed to the business of XPI and its affiliated companies.

Mr. Guangyin Meng, the new Chairman of SMSA, stated that the transaction has given to the company the access to the U.S. capital markets, with the intent of capitalizing on significant growth opportunities.

BVI-registered XPI, through its operating subsidiaries and VIE relationships, is a producer of pharmaceutical and food-grade refined corn products for the Chinese market.