The existing exploration data, concerning the acquired project, will be reviewed as part of Talon’s exploration program. Under the terms of the agreement with Kmine, the BVI company has acquired a 100% interest in Bancor for cash payments of US$20 million, payable over 10 years, of which US$375,000 was payable on closing of the agreement. By terms of the agreement, Talon may withdraw from it at any time and return the shares of the Brazilian company to Kmine.

Mr. Stuart Comline, President and CEO of Talon, has commented that the acquisition of the potash exploration licences in Brazil answers company’s strategy to acquire interests in holdings that have the potential to become substantial projects.

Also, Talon was recently awarded the exploration rights from the Departamento Nacional de Produçao Mineral (”DNPM”) to the Juruena Gold Project in Brazil. Now the BVI company undertakes more detailed assessment of previous mining and exploration at Juruena, to formulate a strategy to maximize the value of the project for Talon.

In this press release, the company also published an update on its agreement with the BVI company Saber Energy Corp., and informed that it continues due diligence review on the Saber CBM projects in Botswana.

Nam Tai’s cash offer follows its intent to privatize its subsidiary, and is conditional upon Nam Tai receiving acceptances and/or purchases totaling at least 90% of the NTEEP shares held by its independent shareholders. If successful, the total cash consideration to privatize NTEEP will amount to approximately US$43 million.

In November 2008, the company had reached an agreement with British Virgin Islands-registered corporation Everbright Development Overseas Ltd., providing financial and logistical services for US-China merchants and manufacturers. The BVI company was going to invest up to $30 million in Gottschalks Inc. – for the exchange of about 29% of Gottschalk’s common stock. As a result of the deal, Everbright would have owned 75% of company’s common stock. However a month ago this deal fell through on Everbright’s initiative, although Gottschalks remained in discussions with Everbright, as well as with another party. According to some sources, this was El Corte Ingles, Spain’s largest department store retailer which owns about a 16% stake in the California retail chain. Gottschalks could not be reached for comments to prove this information.

In the continuing economy downturn, failing of the purchase agreement with the BVI-registered Everbright became one of the reasons of Gottschalks’ falling down. Now the shares of the company fell 39%.

Gottschalks, which operates 58 department stores and three specialty apparel stores in the western United States, hopes to continue conducting business as usual without interruption while reorganizing and trying to find a third-party investor or sell the business.

For the third quarter ended September 30, 2008, net revenues reached $22.8 mln – an approximate $1.1 mln, or 4.7% increase over the same period of the prior year. Cost of goods sold were $18.5 mln in the third quarter 2008 – a 13% increase if compared to the same period of 2007. Gross profits for the third quarter were $4.4 mln, compared to $5.5 mln in the third quarter of 2007. Gross margin percentages decreased to 19.2% in 2008 from 25.1% for the three months ended September 30, 2007 – mainly due to higher costs in raw materials, especially the 29% price increase in cold-rolled steel since January 1, 2008. Operating income and operating margin for the third quarter were $2.9 million and 12.6%, versus $4.1 million and 18.9% in 2007. Total operating expenses for the third quarter of 2008 were $1.5 mln – versus $1.4 mln for the same period of 2007. Operating expenses in this period made 6.5% of revenues compared with 6.2% for the same period of 2007.

Revenue increased approximately 21.3% to $76.3 mln for the nine months ended September 30, 2008, as compared to $62.9 mln for the same period last year. Net income made $8.1 mln, having increased by 8.0% from the same period of 2007. Operating expenses for the nine months ended September 30, 2008 were $4.7 mln, compared to $3.9 mln for the same period of 2007.

As of September 30, 2008, Tongxin International had approximately $19.0 mln in cash and cash equivalents. Stockholder’s equity was $34.2 mln, the amount which made an increase of 52.8% versus the same period of 2007.

British Virgin Islands-registered Virgin group has become one of the best-known brands in Britain. The mail-order business of the group started in 1969, and now the Virgin group has stakes in many diverse operations. The credit crunch makes pressure on at least one of Virgin’s debts, although the whole amount of debt of the BVI group is not clear yet, as Virgin Group is not publicly traded and does not report its accounts. British cable-television company, Virgin Media Inc., faced a deadline for lenders to approve postponing GBP 1.66 billion in loan payments due in 2010 and in the beginning of 2011. According to regulatory filings, the company might not have enough cash to repay the debt.

Also, one of Russian newspapers informed that Russia’s largest mobile operator MTS had registered an offshore company Dega Retail Holding Ltd. in the British Virgin Islands, with the purpose to buy a stake in Euroset.

Meanwhile, it is reported that Euroset and Mamut confirmed closing of the deal on September 22. The parties did not disclose the real size of the transaction, however, according to the unofficial sources, Mamut will pay around US$400 million for Euroset, without taking into account its liabilities in the amount of US$850 million.

Under the terms of the reverse merger agreement, Redwood Capital was issued 428,095 shares of Energroup Holdings Corporation as the equity portion of its payment for advisory services provided as part of the Chuming transaction.

Institutional and accredited investors participated in a US$17.0 million private placement with Energroup Holdings Corporation, paying US$4.40 per share. At the placement price, the value of Redwood Capital’s equity position in Energroup Holdings Corporation would exceed US$1.8 million.

The 15% convertible loan note, which is due in 2011, on a fully diluted basis represents the 25% stake.

A BVI-incorporated company Aesthetic International Holdings Group Ltd. has been set up with a view to facilitate the investment by Yangtze China Investment Ltd. and the subsequent corporate restructuring of the group. The restructuring is to be be implemented after the completion. The group’s restructuring will be completed by Aesthetic with the help of funds invested. In accordance woth Yangtze, the invested funds will also enable the group to raise its profile by means of increased marketing and promotion of brands and products, as well as to expand the research and development team and establish beauty training and franchise management centres.

It should also be noted that this is the 1st investment of Yangtze following its admission to AIM.

Some months ago, Transmeridian Exploration Inc. entered into a definitive merger agreement with TMI pursuant to which the BVI company will make a tender offer of $3 per share, to purchase all of company’s outstanding shares of common stock. One of the milestones towards the completion of the proposed financing arrangements relates to detailed information that was required to be provided by Transmeridian Exploration Inc. until March 21, 2008. In connection to this, Transmeridian’s directors board informed its BVI-registered subsidiary that, if it is not satisfied with such information, or if the financing condition contained in the definitive merger agreement between the company and TMI has not been satisified by March 31, 2008, the company will terminate the definitive merger agreement.

Transmeridian is continuing discussions on the potential acquisition of the company with another interested party, but if it does not enter into agreement with another company, its stockholders may receive less than the $3.00 per share contained in the current agreement with TMI.

Also, prior to this Mr.Sung served as Corporate Controller of UTi, United States, Inc., a subsidiary of UTi Worldwide Inc., BVI-based global integrated logistics corporation. Additionally, he was Vice President of Finance and Corporate Controller at USF Worldwide, Inc., and Vice President and Corporate Controller of the U.S. operations of Panalpina, Inc., a freight forwarding and logistics company.

The new CFO and President will report directly to Mr. Clive Ng,  who is the founder and Executive Chairman of the BVI company.