Seanergy Maritime Holdings Corp. signs LoI with BVI holding

Seaenergy Maritime Holdings Corp., a Marshall Islands corporation specializing in the transportation of dry bulk cargoes through the ownership and operation of dry bulk carriers, entered into a Letter of Intent with a British Virgin Islands company Maritime Capital Shipping (Holdings) Limited, with the purpose to acquire a 51% ownership interest in Bermuda-based Maritime Capital Shipping Limited (MCS), for USD$33mln. The BVI company will retain a 49% interest in Maritime Capital Shipping Limited.

The final purchase agreement between Maritime Capital Shipping (BVI) and Seaenergy Maritime Holdings Corp. is expected to be signed by June 1, 2010.

The current controlled fleet of Seaenergy Maritime Holdings comprises 11 drybulk carriers with a total carrying capacity of 1,043,296 dwt. As a result of the acquisition, the size of company's fleet will make 20 dry bulk vessels with a combined cargo-carrying capacity of approximately 1,292,532 dwt.

MCS is headquartered in Hong Kong, and is engaged in providing international maritime transportation services through its ownership of dry bulk vessels.

Eurocontrol updated information on transaction with Athlone Global Security Inc.

Eurocontrol Technics Inc., a Canadian public company specializing in the acquisition, development and commercialization of energy security, authentication and verification technologies, announced that the shareholders of Eurocontrol have approved the proposed acquisition of all of the issued and outstanding shares of the BVI company Athlone Global Security Inc., in exchange for common shares and warrants of Eurocontrol. The company announced that its shareholders, holding approximately 21 per cent of the issued and outstanding shares of Eurocontrol, voted for the transaction with more than 99 per cent of the votes cast.

The combined company will take the name Athlone Global Solutions Inc., and its common shares will trade on the TSX Venture Exchange under the symbol “AGH”.

Additionally, Eurocontrol announced that it has completed the first tranche of its previously announced non-brokered private placement financing of special warrants at a price of US$0.30 per Special Warrant, for gross proceeds of US$880,000.

Everest announced update on its business combination with the BVI company

Everest Ventures Corp. provided an update to its announcement of the acquisition of the BVI company Estrella Overseas Limited, informing that on April 30, 2010, it has entered into a merger agreement among itself, its wholly-owned subsidiary in the British Virgin Islands, Everest (BVI) Limited, and Estrella Overseas Limited.

By terms of this agreement, Estrella will merge with Everest BVI, Estrella being the surviving entity. All of the outstanding securities of Estrella will be exchanged for securities of Everest. The merger shall constitute qualifying transaction, upon closing of which Estrella will become Everest's wholly-owned subsidiary, which will change its name to Estrella Energy Services Ltd. Also, the previously announced non-brokered private placement of US$2mln by Everest will now be completed by Estrella. The private placement is expected to close on May 7, 2010 or on other date as determined by Estrella.

On March 22, 2010, when the first press release was issued, common shares of Everest were suspended. The corporation was given the term until June 24, 2010 to either complete a qualifying transaction or transfer to NEX, which is a separate trading board of the TSXV, - otherwise it will be delisted. If Everest Corp. transfers to the NEX prior to closing, it may still complete the qualifying transaction, and then its shares will return to trading on the TSX.

EIH Ltd buys 46 per cent stake in BVI-based joint venture

EIH Limited, India-based hospitality firm whose principal activities are operating restaurants, bars and hotels, made an announcement that its board has approved buying 45.85 percent stake in its international joint venture EIH Holdings LTD, incorporated under the law of the British Virgin Islands, for US$45.85 million. EIH Ltd announced that its wholly-owned unit will acquire the equity interest of its partner Amex Investment Ltd in the joint venture.

EIH Ltd currently holds a 54.15 percent stake in the joint venture firm through its subsidiary, EIH International Ltd., British Virgin Islands. Pursuant to the deal it will become the whole owner of the JV.

Eastern International Hotels (EIH) Limited operates in two segments: hotels and others. Its services include airline catering, management of restaurants and airport bars, travel and tour services, car rental, project management and corporate air charters.

The BVI-registered joint venture has investments in hotels in Mauritius and Indonesia, and hotel management contracts in various countries.

Pansoft acquires 55% equity stake in Shandong HongAo Power Technology

Pansoft Company Limited, the BVI-registered company providing software service and solutions for enterprise resource planning for the oil and gas industry in PRC, announced on April 26, 2010 that it has signed an agreement to acquire a 55 per cent equity stake in Shandong HongAo Power Technology Co., Ltd, for approximately US$2.6mln.

Shandong HongAo Power is an IT-based technology solution and service provider focused on energy-saving and pollution-reducing solutions for the thermal power generation industry in China. The company has approximately 40 customers in China, most of them are termal power plants in the Shandong Province, which is one of the largest thermal power generation bases in northern China. They have over seven proprietary solutions, including five software copyrights and five patents.

According to the Chairman of Board of Pansoft Company Limited, acquisition of HongAo Power's technology and service will expand company's current ERP solutions' market into the power generation industry. He said that the BVI company may further increase its ownership in Shandong HongAo Power. The company also expects to have additional acquisition projects in 2010.

AlphaRx, Inc. to enter in a stock transaction with Pacific Orient Capital

Pharmaceutical company AlphaRx, Inc. announced that its Canadian subsidiary AlphaRx Canada Limited and a Canadian TSX-listed company Pacific Orient Capital, Inc. signed a non-binding letter of intent under which AlphaRx Canada Limited and Pacific Orient will combine in a stock transaction. The combined company will be named Pacific Orient BioPharma Group. It is planned to be an innovative high tech enterprise engaging in branded generic drug development, market promotion and distribution in China and other markets.

Following completion of the transaction, Pacific Orient BioPharma Group will have a total of 10,000,000 common shares outstanding, 55% of which will be owned by AlphaRx International Holdings Limited, a corporation incorporated under the laws of the British Virgin Islands and 80% owned by AlphaRx Inc.

Under the terms of the letter of intent, Pacific Orient will issue 5,500,000 of its common shares at a deemed price of C$0.60 per share in exchange for all the issued and outstanding shares in the capital of AlphaRx Canada Limited and the marketing rights of Indaflex for Asia and Mexico. In conjunction with the transaction, Pacific Orient will conduct private placement to raise a maximum of C$1,500,000 by issuance of common shares at C$0.60 per share.

The transaction is anticipated to be completed by the third quarter of 2010. Common shares of the combined company will be listed on the TSX Venture Exchange.

China Medical System issued shares to BVI corporation

China Medical System Holdings Ltd. has signed an agreement with its Executive Director Mr. Hui Ki Fat to acquire the remaining 40 per cent stake in Sky United Trading Ltd., by issuing and allotting 263,833 new ordinary shares of US$0.1 each to Archiever Development Ltd., a company incorporated in the British Virgin Islands and wholly owned by Mr. Hui Ki Fat. Currently China Medical System holds 60 per cent stake of Sky United Trading Ltd. through Sino Talent limited.

By terms of the agreement with Mr. Hui Ki Fat, China Medical System Holdings issued the New Shares, representing approximately 0.55 per cent of the enlarged share capital of the company, to the British Virgin Islands company. The remaining 40 per cent shareholding in Sky United has transferred to Sino Talent Limited.

Sky United, a company incorporated in Hong Kong, is mainly engaged in the import of pharmaceutical products into China through Hong Kong.

The U.S. exploration company enters into Purchase and Sale Agreement with a BVI corporation

Arkanova Energy Corporation, an exploration and junior production company engaged in the acquisition, exploration and development of oil and gas properties in the North American areas, made an announcement that its subsidiary entered into a Purchase and Sale Agreement with a British Virgin Islands-registered corporation Knightwall Invest, Inc. Pursuant to this agreement, dated April 9, 2010, Arkanova's subsidiary Provident Energy Associates of Montana, LLC, agreed to sell to Knightwall, and Knightwall agreed to purchase, 30 per cent of the leasehold interests comprising Provident's Two Medicine Cut Bank Sand Unit in Pondera and Glacier Counties, Montana, and the equipment, parts, machinery, fixtures and improvements located on, or used in connection with, the Unit, for a purchase price of $7,000,000. The closing of the transaction is planned on August 6, 2010.

Knightwall is a lender to the registrant, and it currently has an outstanding loan to the registrant of $330,000 in principal amount bearing interest at the rate of 10% per annum and due and payable by the registrant on May 29, 2010, plus interest of $33,000. The note of $363,000 will be renewed on May 29, 2010, and then the total amount will be paid in full from the portion of the Purchase Price to be paid by Knightwall on July 8, 2010.

Black Marlin Energy Holdings Limited announced completion of acquisition of Black Marlin Energy Limited

Black Marlin Energy Holdings Limited, formerly known as Kristina Capital Corp., has completed on March 18, 2010 its previously announced acquisition of all of the issued and outstanding securities of the British Virgin Islands company Black Marlin Energy Limited. Pursuant to the transaction, a wholly owned subsidiary of the corporation, incorporated in the British Virgin Islands and established solely for the purposes of participating in the transaction, merged with Black Marlin Energy Limited, all of the outstanding common shares of the company being exchanged for common shares in the capital of the corporation on a one for one basis at the price of $0.50 per share, Black Marlin Energy Limited becoming the wholly owned subsidiary of the corporation.

Prior to the transaction, the corporation received shareholder approval to consolidate the common shares of the corporation on a two for one basis, to remove from Alberta to the British Virgin Islands, and to change the name to Black Marlin Energy Holdings Limited.

A total of 134,252,458 BMEL's shares were issued and outstanding immediately prior to the completion of the transaction, which shares were exchanged for 134,252,458 common shares pursuant to the transaction, BMEL becoming the wholly-owned subsidiary of the corporation. Following the completion of the Private Placement and the Transaction, a total amount of 202,494,458 common shares are issued and outstanding.

BVI company Estrella Overseas Limited to be acquired by Everest Ventures Corp.

On March 22, Everest Ventures Corp. entered into a binding letter agreement with a private British Virgin Islands company Estrella Overseas Limited. Pursuant to the terms of the agreement, Everest intends to complete a business combination with Estrella via the issuance of Everest securities for all of the issued and outstanding securities of Estrella. Upon closing the qualifying transaction, the BVI company is expected to be a wholly-owned subsidiary of Everest, and Everest will change its name to Estrella Energy Services Ltd. The transaction is considered to be an arm's length qualifying transaction, as such term is defined under the policies of the TSX Venture Exchange Inc.

Also, Everest plans to complete a non-brokered private placement of US$2.0 million in connection with the qualifying transaction. It is anticipated that, subject to Exchange approval, Everest may pay a commission or finder's fee in connection with the Everest Financing, such fee or commission payable is to be deducted at closing, from the gross proceeds of the Everest Financing.

After the consolidation and assuming closing of the Everest Private Placement, Everest will get 4,000,000 Everest Shares issued and outstanding, options to acquire 180,052 common shares and no other securities exercisable, exchangeable or convertible into Everest Shares. Upon closing of the qualifying transaction it is expected that there will be 95,000,000 Everest Shares issued and outstanding, options to acquire 180,052 Everest Shares and 39,000,000 Everest Warrants.

The transaction between Everest Ventures and Estrella is to be completed prior to June 20, 2010. The Estrella (BVI) Agreement will terminate if all its conditions are not satisfied or waived by July 31, 2010. The Estrella Agreement will also terminate if the parties have not entered into a definitive agreement on or before April 6, 2010.

FGX International Completed merger with French manufacturer

FGX International Holdings Limited, a British Virgin Islands-registered holding of FGX International, announced that it has completed its merger with a subsidiary of French company Essilor International.

By terms of the agreement, shareholders of FGX International received $19.75 per share in cash, for an aggregate amount of approximately $575 million. This sum includes the repayment of FGX International debt of approximately $115 million. Upon completion of the merger, the BVI company became a wholly-owned subsidiary of Essilor; also, FGX International will change its place of incorporation from the British Virgin Islands to the State of Delaware.

FGX International's CEO Alec Taylor said that the company is excited to be part of Essilor, which is the world leader in ophthalmic optical products, researching, developing, manufacturing and marketing a wide range of lenses for optical correction.

FGX International is the leading designer and marketer of non-prescription reading glasses and popular sunglasses in North America. Its products are sold in over 63,000 retail locations in the U.S., Canada, Mexico and the United Kingdom.

Chinese oil giant and Argentinian holding to form a BVI-based joint venture

China's largest offshore oil and gas producer, China National Offshore Oil Corporation (CNOOC) announced that it was investing $3.1 billion for a 50 per cent stake in a joint venture with Argentinian company Bridas Energy Holdings Ltd. Each of the two companies will hold 50 percent interests in Bridas Corporation, a joint venture that will be headquartered in the British Virgin Islands and will focus on oil and gas exploration.

The deal is part of Chinese company's strategy to expand in Latin America region. It will increase Chinese company's proven global reserves of oil by 318 barrels of crude.

According to independent analysts of Beijing, an important aspect of the deal is that Bridas Corporation owns 40 percent of Pan American Energy LLC, while British company BP plc is the owner of another 60 percent. Bridas Corporation, which is involved in exploration and production in Argentina, Bolivia and Chile, had proven reserves of 636 million barrels of petroleum and average production of 92,000 barrels per day at the end of 2009.

The deal is expected to close in the first half of 2010.

TSX Venture Exchange announces share purchase agreement between BVI company holders and Challenger Development Corp.

Recently TSX Venture Exchange announced that it accepted for filing documentation connected to an amended and restated option agreement between Challenger Development Corp. and Musadik Mohamed Ally ("MMA") and Najua Kassira ("NK"). Under this agreement dated January 20, 2010, Challenger Development was granted an option to acquire 70% interest in certain gold claims located in Tanzania.

MMA and NK will be the registered and beneficial owners of 100% of the issued and outstanding capital stock of the British Virgin Islands-incorporated company Harbour Green Investments Limited, which may incorporate and wholly own a private company under the laws of Tanzania to hold the gold claims. MMA and NK have agreed to grant Challenger Development an option to a 70% direct interest in the gold claims, or a 70% equity interest of this BVI-controlled private company. In order to earn the option, the company must: within five business days make a cash payment of $350,000 to MMA and NK; incur exploration expenditures on the gold claims in Tanzania, the first of which should be on or before November 30, 2010; and issue 2,000,000 of its common shares to MMA and NK.

TSX gives conditional listing approval to Talon's merger with Saber Energy

The BVI company Talon Metals Corp. made an announcement that it has received conditional listing approval from the TSX stock exchange concerning the proposed merger with another BVI company Saber Energy Corp.

The merger of Talon Metals with Saber Energy, both incorporated in the British Virgin Islands, is expected to close on or about March 23, 2010, and is subject to the approval of both companies' shareholders and the fulfilling of certain other conditions.

The name of the merged company will remain Talon Metals Corp., and its focus will remain mineral exploration. After closing the transaction, Talon's shares will continue trading on the Toronto Stock Exchange under the same symbol (“TLO”).

A special meeting of Talon shareholders is scheduled to take place on March 9, 2010. The record date is January 18, 2010.