RTG Mining enters into merger agreement with Sierra Mining Limited

RTG Mining Inc., an international mining exploration company incorporated in the British Virgin Islands and listed on the main board of the Toronto Stock Exchange, and engaged in developing gold deposits in Africa, announced entering into merger agreement with the mining company Sierra Mining Limited, which has six gold-copper exploration projects along the fertile Philippines Rift Fault, including High grade polymetallic Mabilo Project and high grade gold Bunawan Project.

Under the terms of the merger agreement, 3 RTG shares will be given for every 1 Sierra Share and 1 RTG warrant, ex price C$0.15 and 3 year term, for every 3 Sierra shares. There is no need for raising capital in connection to this transaction. The consideration represents about A$0.301 or C$0.301 per Sierra share; a premium of 27.4% to the 30 day VWAP of the Sierra share price based on the 30 day VWAP of the RTG share price.

As a result of the merger, the combined entity will be led by a management team which holds the exploration, mine development and operating experience in the Philippines to progress Sierra's Mabilo and Bunawan Projects.

Chinese online solutions provider entered into going private transaction

Ninetowns Internet Technology Group Company Limited, the company based in China and focused on providing online solutions for international trade, has entered into an agreement and plan of merger with Cayman Islands exempted companies with limited liability - Ninetowns Holdings Limited, and its wholly owned subsidiary Ninetowns Merger Sub Limited.

Ninetowns Holdings Limited is jointly owned by the Consortium, which includes the British Virgin Islands-incorporated companies Value Chain International Limited and Oriental Plan Developments Limited. The Consortium collectively beneficially owns approximately 31.4% of the outstanding shares of the company (excluding reserved shares and repurchased shares).

Pursuant to this agreement, Ninetowns Holdings Limited will acquire Ninetowns Internet Technology for US$1.80 per ordinary share. Upon the terms and subject to the conditions of the agreement, Ninetowns Merger Sub will be merged with and into Ninetowns Internet Technology Group, which will become the wholly owned subsidiary of Ninetowns Holdings.

The transaction is expected to close before the end of the second quarter of 2014. If completed, it will result in Ninetowns Internet Technology Group becoming a privately-held company and its ADSs will be delisted from the NASDAQ Global Market.