Archive for the ‘BVI IBC Business News’ Category

Talon Metals announced loan extension with RCF

Friday, June 29th, 2018

Talon Metals Corp., a TSX-listed company focused on the exploration and development of the Tamarack Nickel-Copper-PGE Project in Minnesota, USA, entered into an agreement with Resource Capital Fund VI L.P for the extension of the maturity date of the US$16mln convertible loan facility with the BVI company to April 2, 2019. All the other terms and conditions of the Convertible Loan remain the same. Also, Resource Capital Fund has agreed to extend the maturity date of US$1mln unsecured promissory note to April 2, 2019. Among other things, the time extension will give time for the BVI company to consider all the options in respect of the convertible loan.

Talon Metals is seeking the “minority approval” of the loan extension; it is subject to shareholder approval and the approval of the Toronto Stock Exchange. The shareholders meeting to consider the loan extension and other matters is scheduled for July 26, 2018.

Luxoft Holding and Pegasystems Inc. creating new mobility services platform

Friday, June 15th, 2018

BVI-registered IT service provider Luxoft Holding, Inc. and Pegasystems Inc., the software company providing customer engagement at the world’s leading enterprises, have established a partnership to make the cloud-based mobility services platform for carmakers. The platform will change the focus from using software to change the in-car user experience to creating a holistic customer experience that covers every customer touchpoint.

Mikael Söderberg, Senior Technical Director, of Luxoft Automotive, said in his comments: “This platform acts as a blueprint that allows carmakers to own the customer experience by making more out of their customer data. By taking control of their software, carmakers can shape how people interact with their brand from the point of purchase.”

The mobility services platform will incorporate different features including rider management, service management, predictive diagnostics, mobile communication, and mobility services. It can be integrated into other cloud platforms, and can personalize the car by associating attributes to the user’s individual profile. It will be based on Pega Platform™, the industry-leading application development platform, and integrated with Luxoft’s Linux-based open source platform.

BVI-registered construction company’s shareholders approve change of its name

Friday, April 20th, 2018

BVI-registered construction and engineering company Khot Infrastructure Holdings, Ltd. announced the approval of all the agenda items and proposals put forward by the Board of Directors at the company’s annual general and special meeting of shareholders.

Among the approved resolutions there is the change of business from transportation infrastructure in Mongolia to developing proprietary indexes and data products for emerging blockchain and digital currency markets. Also, the shareholders approved the amendment to BVI company’s articles of incorporation to change the name to Blockchain Holdings Ltd.

Other items included setting the number of directors of the company, re-appointment of company’s auditors, new rolling 10% Stock Option Plan, and sale of Mongolian subsidiary Ashid Munkhiin Zam LLC.

Khot Infrastructure Holdings also announced that it has completed its non-brokered private placement of subscription receipts for gross proceeds of US$500,000 at a price of US$0.10 per Receipt. It has also reached the agreement with its lenders to repay CAD$628,304.68 in debt by the issuance of 6,283,047 common shares at a price of US$0.10 per share.

Talon Metals entered into Promissory Note with Resource Capital Fund

Sunday, April 1st, 2018

Talon Metals Corp., a TSX-listed company incorporated in the British Virgin Islands, has entered into an unsecured non-convertible Promissory Note with Resource Capital Fund. The Promissory Note in the amount of USD$1,000,000 matures on November 25, 2018, and has an interest rate of 12% per annum. There are no other commissions or fees payable in connection with the issuance of the Promissory Note. The proceeds will be used for general working capital purposes. The TSX has accepted notice of the Promissory Note subject to certain standard conditions.

Pursuant to Multilateral Instrument 61-101- Take Over bids and Special Transactions, RCF is a related part of the BVI company, and Talon Metals is not required to obtain a formal valuation and to obtain minority shareholder approval in connection with the Promissory Note.