Monday, May 26, 2014

TSX-listed BHK Resources acquires private BVI company

BHK Resources Inc., TSX-listed capital pool company, made an announcement that it has executed a definitive share purchase agreement with US registered mineral exploration company Silver Bull Resources, Inc., in connection with its proposed acquisition of the private British Virgin Islands-registered company Dome International Global Inc., announced in December 2013.

BHK Resources will acquire all of the issued and outstanding securities of the BVI company for an aggregate payment of USD$1,500,000, payable in cash, of which US$25,000 was as a non-refundable deposit upon the execution of the letter agreement.

Upon the completion of the transaction, Dome International Global Inc., which is the indirect holder of 100 per cent interest in and to the Ndjole manganese and gold project, will become a wholly owned subsidiary of BHK Resources.

Saturday, May 17, 2014

BVI-registered Lang International Holdings Limited provides loan and purchases shares of Canadian Quantum

Canadian Quantum Energy Corporation made the announcement that, pursuant to the investment agreement with the British Virgin Islands-registered company Lang International Holdings Limited and Douglas Brett, the President and CEO of the company, this company has provided a short term loan to Canadian Quantum in the amount of US$350,000.

The loan, which is evidenced by a promissory note and secured against the personal property of Canadian Quantum, will be repaid on the closing of the previously announced private placement offering of Common Shares pursuant to which Lang or any of its associates would purchase 12,750,000 Common Shares at a price of US$0.10 per Common Share for gross proceeds of US$1,275,000.

The company, controlled by Mr. Brett, settled the total amount of its outstanding unsecured demand loan in the amount of US$226,150.12 into 2,261,501 Common Shares at a price of US$0.10 per Common Share. In addition, Mr. Brett has converted the total amount of his outstanding accrued salary up to March 31, 2014, in the amount of $235,000, into a loan, evidenced by a promissory note and secured against the personal property of the Canadian company. The promissory note issued to Mr. Brett is due on September 30, 2015 and bears 12% annual interest.

The President, CEO and director of Canadian Quantum, Mr. Brett will own or control 9,718,922 common shares or approximately 28.03% of the total issued and outstanding common shares and options to acquire 1,000,000 common shares. Assuming the exercise of such options, Mr. Brett would own or control 10,718,922 or approximately 30.05% of the total issued and outstanding Common Shares of Canadian Quantum. The purchase of the common shares was made for investment purposes.

Friday, May 9, 2014

Nam Tai Property Inc. announced share repurchase program

Nam Tai Property Inc., the BVI-registered company working in the spheres of electronics manufacturing and design services, which in the end of April changed its name from Nam Tai Electronics, Inc., and changed trading symbol on the NYSE market to NTP, announced the beginning of a stock repurchase program. It was approved by company’s board of directors, and is aimed at purchasing back up to US$40 million of its common stocks in the open market, at the market prices.

The stock repurchase program will be executed in accordance with Securities and Exchange Commission requirements, the termination of the program is expected to take place on about 30 November 2014.

The actual number of stocks to be repurchased will depend upon market conditions and other factors.