Sunday, May 22, 2016

Talon Metals sold all its shares in Tlou Energy

Talon Metals Corp., a TSX-listed exploration and development company domiciled in the British Virgin Islands, has made an announcement that it has sold all of its shares in Tlou Energy Limited, for gross proceeds of approximately C$600,000.

Sean Werger, the president of Talon Metals, said in his comments on the transaction: "We are pleased that we have been able to increase our treasury through the sale of our shares in Tlou Energy ... The Company's sole focus is working with Kennecott Exploration Company to move the Tamarack Project towards becoming a tier 1 project. Going forward, we will continue to opportunistically seek ways to divest of our remaining non-core assets, and increase our cash position."

Monday, May 9, 2016

Canadian retailer acquires majority shares in BVI-operating Roadtown Wholesale Trading Ltd

The North West Company Inc., which is a Canada-based retailer of food and everyday products and services to rural communities and urban neighbourhoods in Canada, Alaska, the South Pacific and the Caribbean countries, entered into letters of intent to purchase the majority of shares of Roadtown Wholesale Trading Ltd., operating as Riteway Food Markets in the British Virgin Islands. Riteway is a privately held company with seven retail outlets, one Cash&Carry, and one wholesale operation serving the British Virgin Islands. The proposed transaction is subject to a definitive purchase agreement and government approvals.

The Canadian company will continue to operate the business under the trade names Riteway Food Markets and Roadtown Wholesale Trading. Certain Riteway shareholders will continue company’s ownership and will be represented on its Board of Directors. Also, the BVI company will become an administration headquarters for North West’s stores across the Caribbean territory.