Archive for the ‘BVI IBC Business News’ Category

BVI company announced co-hosting of Taoping Alliance Strategic Summit 2017

Tuesday, October 24th, 2017

China Information Technology, Inc. (CNIT), the company incorporated in the British Virgin Islands, providing internet-based and distribution and ad display terminal sharing systems in China, announced that it will be co-hosting Taoping Alliance Strategic Summit 2017 with an advertising agency Shenzhen Taoping New-media Technology Limited, to expand business partnership. The summit will be held on October 26, 2017.

Taoping Alliance is a new media operating organization founded by CNIT and Shenzhen Taoping New-Media Technology Limited. The company is building up a nationwide advertising resource sharing platform.

Taoping Alliance Strategic Summit 2017 will include Taoping Alliance Strategic Summit conferring ceremony, technology highlights, business model introduction, symposium forum and dinner banquet.

Premier African Minerals completes successful fundraising

Wednesday, October 4th, 2017

Premier African Minerals Limited, BVI-based and AIM-traded mining and resource development company working in Southern and Western Africa, announced an underwritten offer to raise approximately £3.5mln before expenses, at 0.3 pence per new ordinary share. The offer, which is available only through on a “first come, first served” basis, received a strong response from private and institutional investors. Having been opened on 29 September 2017, it was closed on 1 October with £3,500,000 gross proceeds raised.

Premier African Minerals will issue additional 654,761,906 new Ordinary Shares at 0.3p each, above the shares already issued in regard to the swap agreement. The shares already issued in regard to the agreement will be repurchased by the company and re-issued to subscribers under the offer. Following the issue of the new shares, the BVI company will have 6,248,216,350 ordinary shares in issue.

The application will be made for the new shares to be admitted to trading on AIM and admission is expected to be received on or around 6 October 2017.

Orca Exploration discusses possible investment with Swala Oil & Gas

Monday, August 21st, 2017

BVI-registered mining company Orca Explortion Group Inc. confirmed discussions with Tanzanian Swala Oil & Gas about minority investment in PAE PanAfrican Energy Corporation, a wholly-owned subsidiary of the BVI company. The agreement is not definitive and is expected to be subject to a number of conditions including Swala securing necessary financing.

The investment by Tanzanian company, if concluded, will not affect the management or operation of PanAfrican Energy Tanzania Limited, which will continue to be wholly-owned subsidiary of PAE PanAfrican Energy Corporation, and many benefits accruing to Tanzania from BVI group’s involvement in the Songo Songo Project.

The Songo Songo Project is the first gas-to-power project in Sub-Saharan Africa, initiated by the Government of Tanzania, with the technical and financial support of the World Bank and private investors, among which there was the predecessor to Orca Exploration Group.

DryShips Inc. terminated common stock purchase agreement with BVI-based Kalani Investments

Monday, August 14th, 2017

Nasdaq-listed DryShips Inc., a diversified owner of ocean going cargo vessels operating worldwide, announced the termination of the common stock purchase agreement with British Virgin Islands-registered Kalani Investments Limited, which was signed by the company in April 2017.

Also, DryShips’ chairman and Chief Executive Officer Mr. George Economou has agreed to refrain from re-selling for a six month period any common shares of the company. DryShips also agreed to to conduct any equity offerings until after December 31, 2017, without the prior approval of the majority of its unaffiliated shareholders.