Canada-based company Columbus Energy Limited entered into agreement according to which it sells its interest in British Virgin Islands-registered company Columbus Oil and Gas to Robert Charles Laslett, for a cash payment of US$42,500 and US$2,975,000 in royalty payments. The transaction is subject to regulatory approval.
Columbus Energy Limited was the owner of 5% interest in Columbus Oil and Gas, which was purchased in July 2007 for cash payment of US$1,100,000, and Mr. Laslett is the majority shareholder in the BVI company. Columbus Oil and Gas (BVI) has a 100% interest in Columbus (Tunisia) Oil and Gas, Inc. incorporated under the Tunisia law.
Monday, August 30, 2010
Monday, August 23, 2010
SinoCoking's subsidiary enters into agreement with two mining companies in Henan Province
SinoCoking Coal and Coke Chemical Industries, Inc., coal and coke processor in central China, making its operations through its British Virgin Islands-registered subsidiary Top Favour Limited, announced that its subsidiary Pingdingshan Hongli Coal & Coke Co., Ltd. entered into materially definitive agrement to acquire 60 per cent of equity interest of mining companies Baofeng Shuangrui Coal Co., Ltd. and Baofeng Xingsheng Coal Co., Ltd. The coalmines operated by these companies are located in Baofeng County, Henan Province. Total consideration of agreements is approximately US$12.4 million.
Under the terms of the agreements, SinoCoking Coal's subsidiary will pay the owners of each company an aggregate purchase price of US$6.2 million in cash, of which approximately US$1.5 million was a refundable deposit to examine the financials, licenses, and reserve data. Pingdingshan Hongli will keep current management and staff of both mining companies, and does not have plans to expand their production capacity, which eliminates the need for additional capital expenditures. The company will evaluate purchasing the remaining 40% minority interests in the future.
Mr. Jianhua Lv, Chairman and CEO of SinoCoking and the owner of Pingdingshan Hongli, said that the company is planning to continue to leverage its status as a coalmine consolidator in Henan Province, and expects to announce additional acquisitions in the quarter ending December 31, 2010.
Under the terms of the agreements, SinoCoking Coal's subsidiary will pay the owners of each company an aggregate purchase price of US$6.2 million in cash, of which approximately US$1.5 million was a refundable deposit to examine the financials, licenses, and reserve data. Pingdingshan Hongli will keep current management and staff of both mining companies, and does not have plans to expand their production capacity, which eliminates the need for additional capital expenditures. The company will evaluate purchasing the remaining 40% minority interests in the future.
Mr. Jianhua Lv, Chairman and CEO of SinoCoking and the owner of Pingdingshan Hongli, said that the company is planning to continue to leverage its status as a coalmine consolidator in Henan Province, and expects to announce additional acquisitions in the quarter ending December 31, 2010.
Saturday, August 14, 2010
GMR Energy Limited raises its holding in Homeland through the Rights Offering
BVI-registered Homeland Energy Group Ltd., a coal producer focused on exploration and development in South Africa, concluded its Rights Offering which was announced in June 2010. The company issued a total of 169,088,393 common shares for total proceeds of $8,454,419.65.
BVI company's largest shareholder, GMR Energy Limited, acquired total amount of 159,862,800 common shares. As a result of this transaction, GMR became the holder of 263,119,895 common shares of Homeland Energy, which represent approximately 55.84% of its common shares. GMR's subsidiary Crossridge Investments Limited owns and controls 30,096,012 common shares of the company. So, after the transaction both GMR and Crossridge hold an aggregate amount of 293,215,907 common shares of Homeland Energy, which represent 62.22% of its common shares.
According to the press release, GMR has acquired the shares for long term investment purposes, and currently does not intend to acquire ownership or control of any additional shares of the BVI company.
The proceeds of the Rights Offering will be used to repay the $7,993,140 loan made by GMR's subsidiary, and for general working capital.
BVI company's largest shareholder, GMR Energy Limited, acquired total amount of 159,862,800 common shares. As a result of this transaction, GMR became the holder of 263,119,895 common shares of Homeland Energy, which represent approximately 55.84% of its common shares. GMR's subsidiary Crossridge Investments Limited owns and controls 30,096,012 common shares of the company. So, after the transaction both GMR and Crossridge hold an aggregate amount of 293,215,907 common shares of Homeland Energy, which represent 62.22% of its common shares.
According to the press release, GMR has acquired the shares for long term investment purposes, and currently does not intend to acquire ownership or control of any additional shares of the BVI company.
The proceeds of the Rights Offering will be used to repay the $7,993,140 loan made by GMR's subsidiary, and for general working capital.
Friday, August 6, 2010
KCC Capital exploration enters into LOI with BVI company
Canada-based capital pool company KCC Capital Corporation, incorporated on August 2, 2007 and publicly listed on January 31, 2008, entered into a letter of intent with British Virgin Islands-registered company Feng Prosperous International Limited. KCC Capital's Qualifying Transaction relates to the acquisition of a private Chinese company Shenyang Lufeng Foodstuff Co., Ltd. (through its holding company), a private HK-based company Lufeng Development Limited, and its holding company - British Virgin Islands private company Lufeng International Limited.
Lufeng companies are working in the Chinese food industry, and are principally engaged in raising, slaughtering and processing of beef cattle, as well as the production, sale, marketing, distribution and export of beef products, mainly in the city of Shenyang, Liaoning province of China. The companies also export products to the Middle East region.
Under the terms of the acquisition transaction, KCC will acquire control of Lufeng, for a consideration of such number of common shares that represents 97.12% of the issued and outstanding shares of the Canadian company, after completion of the acquisition. The consideration will be settled between the parties prior to executing the definitive agreement for the acquisition based on the fact that the current KCC shareholders will own approximately 2.88% of Lufeng.
Also, KCC will complete a concurrent offering prior to the closing of the transaction. It is expected that the company will complete a share consolidation prior to the closing of the concurrent offering, as a result of which company's shareholders will hold approximately 575,868 common shares immediately prior to the acquisition, and that the existing holders of company options will hold options to acquire approximately 64,953 common shares of the Company at an exercise price of approximately CAN$1.493 per share.
KCC Capital will re-domicile from British Columbia to the Cayman Islands or other jurisdiction prior to completion of the acquisition transaction.
Lufeng companies are working in the Chinese food industry, and are principally engaged in raising, slaughtering and processing of beef cattle, as well as the production, sale, marketing, distribution and export of beef products, mainly in the city of Shenyang, Liaoning province of China. The companies also export products to the Middle East region.
Under the terms of the acquisition transaction, KCC will acquire control of Lufeng, for a consideration of such number of common shares that represents 97.12% of the issued and outstanding shares of the Canadian company, after completion of the acquisition. The consideration will be settled between the parties prior to executing the definitive agreement for the acquisition based on the fact that the current KCC shareholders will own approximately 2.88% of Lufeng.
Also, KCC will complete a concurrent offering prior to the closing of the transaction. It is expected that the company will complete a share consolidation prior to the closing of the concurrent offering, as a result of which company's shareholders will hold approximately 575,868 common shares immediately prior to the acquisition, and that the existing holders of company options will hold options to acquire approximately 64,953 common shares of the Company at an exercise price of approximately CAN$1.493 per share.
KCC Capital will re-domicile from British Columbia to the Cayman Islands or other jurisdiction prior to completion of the acquisition transaction.
Thursday, July 29, 2010
BVI company invests US$10mln in US biofuels technology corporation
According to the announcement of the Oklahoma-based biofuels technology company Syntroleum Corp., a British Virgin Islands corporation Energy Opportunity Ltd. will acquire Syntroleum's common stock up to US$10 million worth, within a 24-month period.
By terms of the agreement, the BVI company will be limited to 4.9 percent of all shares of Syntroleum common stock. No single required purchase will exceed 2.5 percent of Syntroleum's market capitalization.
Market capitalization of the US company is currently estimated at about US$142 million. With its partner Tyson Foods Inc., the company plans to start operations on the Dynamic Fuels biodiesel plant in Geismar, La.
By terms of the agreement, the BVI company will be limited to 4.9 percent of all shares of Syntroleum common stock. No single required purchase will exceed 2.5 percent of Syntroleum's market capitalization.
Market capitalization of the US company is currently estimated at about US$142 million. With its partner Tyson Foods Inc., the company plans to start operations on the Dynamic Fuels biodiesel plant in Geismar, La.
Saturday, July 24, 2010
Chaarat issues announcement on the acquisition of Kyrex Limited
BVI company Chaarat Gold Holdings Ltd announced that it has received acceptances from shareholders representing more than 75 per cent of the issued share capital of Kyrex Limited, concerning the acquisition of Kyrex which was announced on 21 June 2010.
In accordance with the provisions in the articles of association of Kyrex, Chaarat is able to acquire the remaining issued and to be issued shares of Kyrex Limited.
In accordance with the provisions in the articles of association of Kyrex, Chaarat is able to acquire the remaining issued and to be issued shares of Kyrex Limited.
Monday, July 19, 2010
BVI company acquires shares of NSGold Corporation
British Virgin Islands-based private company Van Hoof Industrial Holdings Ltd. made an announcement that on June 18 it acquired ownership of 9,601,600 common shares of NSGold Corporation. This amount represents 31.89% of the full stock of common shares, both issued and outstanding, of NSGold. Of them, 8,201,600 shares were acquired by Van Hoof Industrial Holdings at a deemed price of $0.25 per share, pursuant to a Qualifying Transaction.
The BVI holding also acquired 700,000 common share purchase warrants of NSGold, representing 4.79% of its issued and outstanding warrants. The shares and warrants acquired by Van Hoof in the private placement are subject to a “hold period” which is to expire on October 19, 2010.
By terms of the purchase agreement, Van Hoof Industrial Holdings Ltd. may from time to time acquire ownership, control or direction over additional securities of NSGold Corporation. The shares and warrants of NSGold Corporation were acquired by the BVI holding for investment purposes.
The BVI holding also acquired 700,000 common share purchase warrants of NSGold, representing 4.79% of its issued and outstanding warrants. The shares and warrants acquired by Van Hoof in the private placement are subject to a “hold period” which is to expire on October 19, 2010.
By terms of the purchase agreement, Van Hoof Industrial Holdings Ltd. may from time to time acquire ownership, control or direction over additional securities of NSGold Corporation. The shares and warrants of NSGold Corporation were acquired by the BVI holding for investment purposes.
Monday, July 12, 2010
CanAsia Financial entered into agreement with BVI-registered Mondeo Development Group
CanAsia Financial Inc. entered in an arm's length agreement dated May 1, 2010 with HK resident Mr. Jacky Chak-Sun Cheng and British Virgin Islands-registered private company Mondeo Development Group Ltd. Under the terms of this agreement, CanAsia will acquire through a series of transactions all of the issued and outstanding securities of the BVI company, and, indirectly, all the securities of Mondeo's subsidiaries.
Currently Mondeo has 360 common shares held by Mr. Cheng. The BVI company owns all of the issued and outstanding securities of Pacific Optical Technologies Ltd. and Pacific Optical owns all of the issued and outstanding securities of Pacific Optical Technologies Ltd. It is expected that prior to entering into the definitive agreement governing the transaction Mr. Cheng will sell 70 Mondeo shares to various arm's length investors, for cash consideration of $947,917. Each investor will also enter into agreement with CanAsia whereby they agree to sell their shares in BVI company to CanAsia.
On May 21, pursuant to the agreement, Mr. Cheng invested HK$8 million (approximately CDN$1 million) in consideration for a 38.4% equity stake in Pacific Shenzhen.
The Transaction will be Company's "Qualifying Transaction" in accordance with the policies of the TSX Venture Exchange. Completion of the Transaction is expected to take place on or before July 31, 2010. After closing, CanAsia will be the "Resulting Issuer" operating in the technology sector and the operations of Mondeo will be the Company's main business.
Currently Mondeo has 360 common shares held by Mr. Cheng. The BVI company owns all of the issued and outstanding securities of Pacific Optical Technologies Ltd. and Pacific Optical owns all of the issued and outstanding securities of Pacific Optical Technologies Ltd. It is expected that prior to entering into the definitive agreement governing the transaction Mr. Cheng will sell 70 Mondeo shares to various arm's length investors, for cash consideration of $947,917. Each investor will also enter into agreement with CanAsia whereby they agree to sell their shares in BVI company to CanAsia.
On May 21, pursuant to the agreement, Mr. Cheng invested HK$8 million (approximately CDN$1 million) in consideration for a 38.4% equity stake in Pacific Shenzhen.
The Transaction will be Company's "Qualifying Transaction" in accordance with the policies of the TSX Venture Exchange. Completion of the Transaction is expected to take place on or before July 31, 2010. After closing, CanAsia will be the "Resulting Issuer" operating in the technology sector and the operations of Mondeo will be the Company's main business.
Friday, July 9, 2010
BVI-registered holding signs MoU to acquire full stake in COG Holding
Sino Invent Holdings Limited, a British Virgin Islands-registered company and a wholly-owned subsidiary of China Oil And Gas Group Limited, signed a memorandum of understanding with Sino Advance Holding Limited, an investment holding company also incorporated in BVI. Subject to the MoU, Sino Invent will acquire a 100% stake in HK-based China Oil and Gas Group (Holdings) Limited (COG Holdings). Pursuant to the agreement, China Oil and Gas will pay a refundable deposit in the amount of US$25.66 million to Sino Advance.
China Oil and Gas Group is an investment holding company engaged in natural gas and energy related business. COG Holdings is holding 70% stake in the joint venture company Shandong Shuanghe Mining, engaged in the exploration and exploitation of coal mines.
China Oil and Gas Group is an investment holding company engaged in natural gas and energy related business. COG Holdings is holding 70% stake in the joint venture company Shandong Shuanghe Mining, engaged in the exploration and exploitation of coal mines.
Monday, July 5, 2010
Canfe Ventures signed letter agreement with BVI-registered companies
A capital pool company Canfe Ventures Ltd. entered into a letter agreement with companies Fame Oriented Holding Limited, Baron Natural Resources Co. Ltd. (BNR) and Eagle Action Co. Ltd. (EA), all of them being registered in the British Virgin Islands, to acquire 87.5% of the issued and outstanding shares of Fame. The agreement was signed on June 4, 2010.
BVI company Fame Oriented Holding and its wholly-owned subsidiary Nevada-incorporated Golden Fame (USA) Inc. are privately held junior mining companies holding the rights to earn a 100% interest in the Arizona-located Goldridge Property.
By terms of the agreement, Canfe shall issue to the vendors 16,000,000 of its common shares at a deemed price of US$0.15 per share. That makes approximately 53% of the outstanding shares of Canfe immediately after the closing of the transaction. Upon completion of transaction, the BVI company shall repay BNR's shareholder loan totaling US$400,000.
Canfe will issue 1,016,667 common shares to an arm's length party as a finder's fee in connection with the transaction.
Trading of the common shares of the company has been halted in connection with this news release, and will recommence at such time as the TSX-V may determine, upon the completion of certain requirements pursuant to TSX-V Policy 2.4.
BVI company Fame Oriented Holding and its wholly-owned subsidiary Nevada-incorporated Golden Fame (USA) Inc. are privately held junior mining companies holding the rights to earn a 100% interest in the Arizona-located Goldridge Property.
By terms of the agreement, Canfe shall issue to the vendors 16,000,000 of its common shares at a deemed price of US$0.15 per share. That makes approximately 53% of the outstanding shares of Canfe immediately after the closing of the transaction. Upon completion of transaction, the BVI company shall repay BNR's shareholder loan totaling US$400,000.
Canfe will issue 1,016,667 common shares to an arm's length party as a finder's fee in connection with the transaction.
Trading of the common shares of the company has been halted in connection with this news release, and will recommence at such time as the TSX-V may determine, upon the completion of certain requirements pursuant to TSX-V Policy 2.4.
Tuesday, June 29, 2010
Afren plc to acquire Black Marlin Energy
Black Marlin Energy Limited, British Virgin Islands-registered company engaged in oil and gas exploration in East Africa, entered into a definitive agreement with Afren plc, providing for the acquisition of Black Marlin by Afren. Upon completion of the arrangement, Black Marlin would become a wholly-owned subsidiary of Afren.
Under the terms of the agreement, each shareholder of Black Marlin will receive 0.3647 of a common share of Afren for each common share of Black Marlin held. The transaction will be completed pursuant to a scheme of arrangement under the laws of the British Virgin Islands. Upon completion, Black Marlin security holders will own approximately 7.9%, and Afren security holders will own approximately 92.1% of the combined company.
It is expected by the companies that the combination will provide many benefits both to Afren and Black Marlin.
Afren plc is an African focused independent oil and gas exploration and production company, having interests and operating in Ghana, Côte d'Ivoire and Nigeria. Afren also has minority exploration interests in Congo Brazzaville and the Joint Development Zone of Nigeria - São Tomé & Príncipe.
Under the terms of the agreement, each shareholder of Black Marlin will receive 0.3647 of a common share of Afren for each common share of Black Marlin held. The transaction will be completed pursuant to a scheme of arrangement under the laws of the British Virgin Islands. Upon completion, Black Marlin security holders will own approximately 7.9%, and Afren security holders will own approximately 92.1% of the combined company.
It is expected by the companies that the combination will provide many benefits both to Afren and Black Marlin.
Afren plc is an African focused independent oil and gas exploration and production company, having interests and operating in Ghana, Côte d'Ivoire and Nigeria. Afren also has minority exploration interests in Congo Brazzaville and the Joint Development Zone of Nigeria - São Tomé & Príncipe.
Wednesday, June 23, 2010
BVI-based City Zone Holdings completed share exchange and closed $10.8 Mln private placement
Anslow + Jaclin, LLP, a securities and corporate law firm providing legal and business expertise for its domestic and international clients and focused on representation of public companies listed on US stock exchanges, represented British Virgin Islands-registered company City Zone Holdings Limited in a reverse acquisition of Eco Building International, Inc., and simultaneous financing transaction. By terms of this transaction, the BVI company became a wholly-owned subsidiary of Eco Building, which received full stock of the issued and outstanding ordinary shares of City Zone Holdings.
At the same time, City Zone Holdings Limited closed a private placement, consisting of convertible preferred shares and warrants on the amount of approximately US$8.21mln. The BVI company was also advised by Anslow + Jaclin on the second closing for additional amount of approximately $2.59 million. The aggregate aggregate financing made approximately $10.8 million.
City Zone Holdings Limited, through its subsidiaries, is an emerging organic and non-rganic agricultural products distributor in the Shanxi Province of China. The company is engaged in procuring, processing, marketing and distributing various grain and corn products.
At the same time, City Zone Holdings Limited closed a private placement, consisting of convertible preferred shares and warrants on the amount of approximately US$8.21mln. The BVI company was also advised by Anslow + Jaclin on the second closing for additional amount of approximately $2.59 million. The aggregate aggregate financing made approximately $10.8 million.
City Zone Holdings Limited, through its subsidiaries, is an emerging organic and non-rganic agricultural products distributor in the Shanxi Province of China. The company is engaged in procuring, processing, marketing and distributing various grain and corn products.
Wednesday, June 16, 2010
Pansoft acquires full stock of Beijing ITLamp Technology
Pansoft Company Limited, a British Virgin Islands-registered provider of software ERP solutions and on-demand customized services for oil and gas industry in China, announced that it has signed an agreement for the acquisition of 100 per cent equities of Beijing ITLamp Technology Co., Ltd., for approximately US$3.07 mln. US$1.17 mln of this sum will be paid in cash and the balance in restricted Company stock (approximately US$1.90 mln).
The purchased company is an IT solution and service provider servicing oil companies with digital desktop office platform, material supply system, analytical and test system. ITLamp has developed over 20 software programs in different areas of the oilfield operations. The major customer of ITLamp is PetroChina Tarim Oilfield Company.
According to Pansoft's announcement, the BVI company will leverage ITLamp's customer base and solutions to increase its presence in the oilfield market segment. Also, ITLamp's core proprietary technologies will be combined with Pansoft's solution portfolio and technology platform, and provide higher quality services and more comprehensive solutions to its clients.
Hugh Wang, Chairman of BVI company's Board, said that, following the acquisition of Hongao Power's technology and service, Pansoft reached another important milestone in its expansion plan for 2010 with the acquisiton of ITLamp.
The purchased company is an IT solution and service provider servicing oil companies with digital desktop office platform, material supply system, analytical and test system. ITLamp has developed over 20 software programs in different areas of the oilfield operations. The major customer of ITLamp is PetroChina Tarim Oilfield Company.
According to Pansoft's announcement, the BVI company will leverage ITLamp's customer base and solutions to increase its presence in the oilfield market segment. Also, ITLamp's core proprietary technologies will be combined with Pansoft's solution portfolio and technology platform, and provide higher quality services and more comprehensive solutions to its clients.
Hugh Wang, Chairman of BVI company's Board, said that, following the acquisition of Hongao Power's technology and service, Pansoft reached another important milestone in its expansion plan for 2010 with the acquisiton of ITLamp.
Friday, June 11, 2010
Orsu Metals Corporation to buy full stock of BVI-registered Eildon Enterprises Limited
Orsu Metals Corporation, London-based precious and base metals exploration and development company, announced that it has signed a binding sale and purchase agreement for the acquisition of another 24.73 per cent interest in the Karchiga Project, by purchasing the remaining outstanding shares of Eildon Enterprises Limited.
Eildon Enterprises is a British Virgin Islands-registered company, which is the owner of a 94.75 per cent interest in GRK MLD LLC. MLD is the holder of the contract relating to the Karchiga volcanogenic massive sulphide deposit in Kazakhstan granted by the Ministry of Energy and Mineral Resources of the Republic of Kazakhstan in 2007 and valid until 2022.
Orsu Metals currently owns 73.9 per cent of the share capital of Eildon Enterprises, representing 70.02 per cent in MLD. Upon the completion of the acquisition Orsu will become the full owner of the BVI corporation; 100 per cent in Eildon will represent 94.75 per cent of MLD and its interest in the Project.
The proposed acquisition deal is proposed to be completed during the third quarter of 2010. The purchase price of the remaining 26.1 per cent interest in Eildon is US$6,187,500, to be paid in cash at the closing of the transaction.
Eildon Enterprises is a British Virgin Islands-registered company, which is the owner of a 94.75 per cent interest in GRK MLD LLC. MLD is the holder of the contract relating to the Karchiga volcanogenic massive sulphide deposit in Kazakhstan granted by the Ministry of Energy and Mineral Resources of the Republic of Kazakhstan in 2007 and valid until 2022.
Orsu Metals currently owns 73.9 per cent of the share capital of Eildon Enterprises, representing 70.02 per cent in MLD. Upon the completion of the acquisition Orsu will become the full owner of the BVI corporation; 100 per cent in Eildon will represent 94.75 per cent of MLD and its interest in the Project.
The proposed acquisition deal is proposed to be completed during the third quarter of 2010. The purchase price of the remaining 26.1 per cent interest in Eildon is US$6,187,500, to be paid in cash at the closing of the transaction.
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