Monday, August 10, 2009

Dematco, Inc. announces update on the deal with BVI investment firm

Dematco, Inc., the company specializing in electronical trade of financial instruments, has announced that its wholly-owned subsidiary Dematco Group Corporation, on behalf of BVI-registered investment company Acquma Holdings Limited, arranged a transaction enabling 1.6 million shares of the BVI company to be acquired through a share exchange with First Corp.

First Corp is a Colorado corporation, while Acquma is a private investment firm incorporated in the British Virgin Islands, which is also the owner of 18% of a private Finnish company Tramigo Oy Ltd. This Finnish company is engaged in the development and marketing of GMS based navigation systems in more than 100 countries worldwide.

Robert Stevens, chairman and CEO of Dematco, commented on the transaction saying that it will enable the BVI company “to establish a market value for their holdings in an otherwise unquoted investment”. He said that Dematco will receive remuneration of 440,000 Acquma shares which are acquired by First Corp in exchange for 1,232,000 new shares of common stock in First Corp valued at US$1.00 per share, and a cash fee of Euros 60,000 (US$84,000).