BVI-registered Polo Resources executes loan agreements with Indonesian companies

Polo Resources Limited, the mining and exploration investment company registered in the British Virgin Islands, announced that it has executed two loan agreements with its partners in Indonesia, EarthCoal and Earth Investment Group, for the procurement of coking coal and iron ore opportunities in Indonesia. Should suitable projects be identified, the BVI company anticipates entering the possible joint venture arrangements.

Polo Resources Ltd has executed a binding convertible loan agreement with Polo IndoCoal Holdings Limited, a company incorporated in the British Virgin Islands. Under the terms of the Coking Coal Loan Agreement, Polo Resources has agreed to advance up to US$3 million in the form of a convertible loan to Polo IndoCoal to fund due diligence and related project development costs in respect of coking coal opportunities in Indonesia.

The loan is available to be drawn down in several tranches, and the outstanding loan sum shall bear no interest. The loan is repayable only with the writing consent of Polo Resources Ltd.

Polo Resources has also agreed identical terms with Earth Investment Group Pte. Ltd. for a convertible loan agreement with another British Virgin Islands-registered company Polo IndoIron Holdings Limited. Under the terms of the Iron Ore Loan Agreement, Polo has again agreed to advance up to US$3 million in the form of a convertible loan to Polo IndoIron to fund due diligence and related project development costs in respect of iron ore opportunities in Indonesia. All terms of the Iron Ore Loan Agreement are the same as for the Coking Coal Loan Agreement.

EarthCoal and Earth Investment Group, Polo's partners in Indonesia, are international private investment firms specializing in developing economies, in Asia and Latin America.

BVI-registered company to purchase Century Mining Corp.

White Tiger Gold, the company based in the British Virgin Islands, announced that it has agreed to purchase Century Mining Corp. in an all-share deal worth about US$742 million. Under the terms of the deal, the BVI company would pay 0.4 of its shares for each Century Mining share.

The main assets of Century Mining Corp. are the Lamaque project in Val d'Or, Que., and the San Juan mine in Peru.

White Tiger is the holder of exploration and mining rights to five large properties in eastern Russia.

The boards of both companies have unanimously approved the deal. It still must be approved by shareholders and regulators.

CIC Energy announced extension to the date of proposed acquisition

British Virgin Islands-registered company CIC Energy Corp., engaged in the development of the Mmamabula Energy Complex at the Mmamabula Coal Field in Botswana, Africa, announced that it has executed an amendment to the supplementary agreement with Indian power company JSW Energy Limited, dated December 16, 2010, pursuant to which the deadline to complete the proposed acquisition of CIC Energy by JSW has been further extended from March 15, 2011 to May 31, 2011.

Mr Warren Newfield, Chairman and CEO of CIC Energy, said in his comments that the BVI company is continuing to work to fulfill the conditions required for the transaction to close as soon as possible, but no later than May 31st.

JSW is entitled under certain circumstances to a right to match an acquisition proposal received by CIC Energy within six months period following the Outside Date, in case the Supplementary Agreement is terminated as a result of the transaction not closing by the Outside Date. As a result of this Amendment, such right will expire on August 31, 2011.

U.S. pharmaceutical company entered into merger agreement with subsidiary of the BVI corporation

On February 21, 2011, Detroit-based company developing generic pharmaceuticals Caraco Pharmaceutical Laboratories, Ltd. announced that it entered into a merger agreement with Sun Pharma Global, Inc., a wholly-owned subsidiary of the British Virgin Islands-registered company Sun Pharmaceutical Industries Limited and a newly-formed indirect wholly-owned subsidiary of Sun Pharma incorporated in Michigan, USA. Under the terms of the merger agreement, all shareholders of Caraco other than Sun Pharma and Sun Global will receive a cash payment of US$5.25 per share upon closing the transaction. The BVI company and its wholly-owned subsidiary collectively own 75.8% of Caraco common stock.

Earlier, Sun Pharma and Sun Global had proposed a ”going private” transaction by which Sun Pharma, Sun Global and/or one or more of their affiliates would acquire all of the outstanding shares of Caraco common stock not held by Sun Pharma and Sun Global, for a per share consideration of US$4.75 cash.

Upon completion of the transaction, Caraco will become a privately held company and its common stock will no longer be traded on the NYSE Amex.

Foxpoint Capital announced an update on the proposed Qualifying Transaction with BVI company

A capital pool company Foxpoint Capital Corp. announced that it has entered into an amendment to the non-binding letter of intent signed on November 8, 2010 between Foxpoint and Touchstone Investment Holdings Limited, incorporated under the law of the British Virgin Islands. The amendment extends the term of the letter of intent to April 30, 2011.

The parties to the agreement are progressing the final structuring and execution of a definitive business combination agreement for the transaction which will be structured as a merger between Touchstone and a wholly-onwed subsidiary of Foxpoint. The proposed merger will constitute the Qualifying Transaction.

The BVI company is the 100% indirect owner of the Rio Pescado gold property located in Colombia.

Canada Pacific Capital enters into agreement with BVI-registered corporation

On January 20, a capital pool company Canada Pacific Capital Corp. has entered into a letter of intent, pursuant to which it proposes to acquire all of the issued and outstanding securities of China Freeze-Dry Inc., incorporated under the law of the British Virgin Islands. The BVI company is the indirect owner of China-based company Linyi Shenhe Foodstuff Co., Ltd. Canada Pacific intends for the acquisition of Linyi through the target to constitute its qualifying transaction.

The target is a British Virgin Islands corporation, which is the 100% direct owner of Hong Kong-based Supertown Trading Company Limited (HK). This company, in its turn, is the 100% direct owner of Linyi.

Pursuant to the terms of the letter of intent, Canada Pacific agreed to consolidate, prior to completion of its proposed qualifying transaction, its shares, broker warrants, and options on a 10:1 basis. Currently, the Corporation has 11,600,000 shares, 800,000 broker warrants, and 1,160,000 options outstanding. Post-consolidation, Canada Pacific will have 1,160,000 common shares, 80,000 broker warrants, and 116,000 options outstanding.

Subject to certain terms and conditions, the Corporation intends to acquire all of the 45,000 issued and outstanding common shares of the Target in consideration for a total of 90,251,562 post-consolidation common shares of the Corporation, at a deemed price of US$1.50 per share for a total purchase price of US$135,377,343 representing five times the average operating cash flow of Linyi as indicated in its audited June 30, 2010, 2009 and 2008 financial statements.

The company and Linyi will use best efforts to complete a brokered or non-brokered private placement (or a combination of both) financing on a best effort basis, of up to Cdn$30,000,000 by issuing up to 9,972 additional Target shares with the price of not less than Cdn$3,008.39 per Target share. Up to 9,972 target shares will be exchanged for up to 20,000,000 post-consolidation shares of the Corporation.

CIC Energy shareholders approve deal with Indian company

Shareholders of CIC Energy Corp., the company registered in the British Virgin Islands and headquartered in Canada, have overwhelmingly voted in favour of its acquisition by the Indian power company JSW Energy. At the special meeting held by the BVI company, the acquisition transaction was approved by about 99.8 per cent of the votes cast. The deal is expected to close by 28 February.

In November 2010, Mumbai-based JSW Energy, which is the independent power arm of the $5 billion JSW Group, had offered to buy CIC Energy for $7.42 per share, valuing it at around Cdn $422 million.

China Wireless Technologies enters into agreement with BVI-incorporated shareholder

China Wireless Technologies Limited ($87.76 million), a Chinese company focused on developing and providing integrated solutions for smartphone sets, mobile data platform systems, and value-added business operations, signed agreement with British Virgin Islands-registered Data Dreamland Holding Limited. Under the terms of this agreement, Data Dreamland, which is a controlling shareholder of China Wireless, will subscribe 150 million new shares at a price of HKD4.55 ($0.59) per share, for gross proceeds of $87.76 million.

The subscription shares represent approximately 7.14% stake of the existing issued share capital of China Wireless, and approximately 6.66% of the issued share capital as enlarged by the allotment and issue of the subscription shares.

The closing of the private placement transaction is expected to occur in February 2011. China Wireless intends to use the net proceeds from the acquisition for its general working capital purposes.

Mkango Resources Limited completes acquisition of BVI-registered Lancaster

Mkango Resources Ltd. (formerly Alloy Capital Corp.) announced that it has completed the acquisition of the British Virgin Islands-registered company Lancaster Exploration Limited as its Qualifying Transaction. Prior to the acquisition, Lancaster was a wholly-owned subsidiary of Leo Mining and Exploration Limited, which is also incorporated in the BVI. Lancaster is engaged in exploration for rare earth elements in Africa.

Pursuant to the terms of the Qualifying Transaction, prior to completion of the acquisition and the concurrent private placement, the corporation consolidated its common shares on a 2.5 for 1 basis. Then Mkango Resources issued 19,852,899 common shares at a deemed value of $0.50 per acquisition share to Leominex for all of the issued and outstanding shares of Lancaster, for a purchase price of $9,926,449.50.

The company has entered into a share exchange agreement dated as of October 16, 2010, with the British Virgin Islands-registered Lancaster Exploration and Leo Mining and Exploration Limited. The acquisition of Lancaster was an arm's length transaction.

In conjunction with the acquisition, Mkango Resources issued 4,825,000 units at a price of US$0.50 per unit, pursuant to a brokered private placement for gross proceeds of $2,412,500. In addition, the company completed a non-brokered private placement of 10,696,499 units at a price of $0.50 per unit for total gross proceeds of $5,348,249.50. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at the exercise price of $0.75 on or before December 20, 2012. The combined brokered and non-brokered offerings were oversubscribed and resulted in gross proceeds of $7,760,749.50, which will be used to complete the proposed exploration program for Mkango, working capital and general corporate purposes.

Sino Gas International Holdings and its BVI subsidiary signed agreement with AMP Capital Asian Giants Infrastructure Fund

Sino Gas International Holdings, Inc. has entered into a Subscription Agreement by and among the company Sino Gas Construction Limited, a wholly-owned subsidiary of the company registered in the British Virgin Islands, and AMP Capital Asian Giants Infrastructure Fund (AGIF). In connection with this transaction, Sino Gas International Holdings signed the shareholders agreement with the BVI-incorporated Sino Gas Construction Limited and AGIF.

Under the terms of the shareholders agreement between the parties, they will manage and control the BVI subsidiary and its investment in Qujing City Fuel Gas Co., Limited. The purpose of this agreement is to facilitate the development and expansion of the business operated by Qujing Gas in accordance with the business plan, and to pursue gas distribution opportunities in other large and medium-sized cities in Yunnan Province, China.

Sino Gas International Holdings, Inc., through its indirectly wholly-owned subsidiary, Beijing Zhong Ran Wei Ye Gas Co., and the subsidiaries of Beijing Gas, is a leading developer of natural gas distribution systems in small and medium size cities in China. The company owns and operates natural gas distribution systems in Beijing, Hebei, Jilin, Jiangsu, Anhui and Yunnan Provinces of China.

BVI company to complete previously announced acquisition

British Virgin Islands-registered company White Tiger Gold Ltd. (formerly, SL Resources Inc.) has announced the completion of its previously announced acquisition of four wholly-owned subsidiaries of LLC UK Dalsvetmet, being Ildikangold, Dalsvetmet, LLC Koryakming and Vostokzvetmet, and the entire 80% interest of DZM in a fifth subsidiary, LLZ Geozvetmet in exchange for the issuance of 85,000,000 common shares of the company to DZM. The acquisition, which is made through the wholly-owned Cyprus subsidiary of the BVI company, Diascia Investments Limited, is accounted for as a reverse takeover.

White Tiger Gold will carry on the business of the four companies purchased, which consists of the acquisition, exploration, development and mining of mineral properties in Russia. In addition, White Tiger Gold will continue its exploration activities on its other properties and licence areas with a view to discovering economically viable production sites. The Company will also actively seek, evaluate and acquire interests in other projects or business opportunities in the mineral exploration industry that are indicated to have substantial potential.

CIC Energy to merge with JSW Energy Natural Resources (BVI) Limited

The British Virgin Islands-registered company CIC Energy Corp. has entered into binding agreement with the India-based power company JSW Energy Limited.

Under the terms of the agreement, the transaction, which has been approved by the respective boards of directors of JSW and CIC Energy, was to be structured as a take-over bid, but according to supplementary agreement signed on December 16, 2010, the legal structure of completing the proposed acquisition has been changed to a merger.

CIC Energy agreed to support a merger of CIC Energy with JSW Energy Natural Resources (BVI) Limited, a wholly owned subsidiary of JSW, with JSW (BVI) being the surviving entity as a result of the merger.

Upon the completion of the merger, the shareholders of the outstanding shares of the BVI company, including any shares pursuant to the exercise of outstanding options, will receive CDN$7.42 per share.

The offer of JSW represents a premium of 203% to the volume weighted average trading price for CIC Energy's shares on the TSX for the 30-trading day period ending September 14, 2010 – the day prior to the announcement of the first proposal received by the BVI company with respect to its acquisition. It represents a premium of 159% to the closing price of CIC Energy’s shares on the same date.

By this offer, the total equity of CIC Energy is valued at approximately CDN$422 million on 56.8 million shares. The Board of Directors of the company has determined to recommend acceptance of the offer by CIC Energy shareholders.

The Merger is expected to close no later than February 28, 2011.

GlaxoSmithKline to acquire Chinese unit of BVI-registered company

GlaxoSmithKline P.L.C., a pharmaceutical company headquartered in the UK with operations based in the US, mainly in the Philadelphia area, announced about its plans to purchase the Chinese company Nanjing MeiRui Pharma Co. Ltd., for about US$70 million in cash. The acquisition transaction is expected to close by the end of 2010.

MeiRui is the Chinese unit of privately owned British Virgin Islands-incorporated company Pagoda Pharma Group Inc. The company has a manufacturing site in Jiangsu Province.

By this deal, international pharmaceutical company is planning to increase its presence in China and gain access to MeiRui's portfolio of urology and allergy products.

BVI company purchases 19.7% common stock of South American Silver Corp.

British Virgin Islands-registered company Zamin Precious Minerals Limited announced that it purchased 18,900,000 common shares of South American Silver Corp. (SAC), mineral exploration company focused on making operations in Bolivia and Chile. This amount represents approximately 19.7% of the issued and outstanding shares of SAC.

18,300,000 common shares of SAC are purchased by Zamin pursuant to a subscription agreement on 7 November 2010. Subsequently the BVI company agreed to increase the common shares of SAC to be purchased to 18,900,000, pursuant to restated subscription agreement signed between the parties on 30 November, 2010.

Share purchase by Zamin is part of a private placement offering of 27,499,378 common shares of South American Silver, which closed on 30 November, 2010. The common shares of SAC acquired by the BVI company were issued at a price of C$1.16 per share, for a total consideration of C$21,924,000.

As part of the Offering, Zamin acquired control and direction of the common shares issued to Zamin for investment purposes.