Archive for the ‘Share Exchange agreements’ Category

BVI-registered EuroTex Finanz entered into agreement with North West Oil & Gas Trading Company

Wednesday, March 2nd, 2011

EuroTex Finanz Inc., a British Virgin Islands-based company engaged in international financial services business, made an announcement that on February 19, 2011 it has entered into a share exchange agreement with North West Oil & Gas Trading Company, Inc. NWOil is an emerging entity in the US-based oil and gas industry, its main businesses are reactivation of already existing oil and gas fields, expansion with modern production facilities and infrastructure. On February 21, 2011 the agreement was approved by the Board of Directors of both EuroTex Finanz Inc. and NWOil.

According to the agreement between North West Oil & Gas Trading Company and EuroTex Finanz Inc., there will be an exchange of shares between the parties. The exchange rate will be 300,000 shares of NWOil stock in return for 600,000 shares of Eurotex Finanz Inc. BVI.

NWOil also passed a resolution to pay a dividend in the form of EuroTex Finanz, Inc. shares to the individual NWOil registered stockholders, increasing EuroTex’s shareholder base. To qualify for this dividend, a stockholder must own a minimum of 100 shares of NWOil stock.

Dynasty Gaming signs Letter of Intent to acquire all shares in BVI- and China-based companies

Tuesday, November 6th, 2007

The Canadian company Dynasty Gaming Inc. has just  announced the details of its intention to acquire all of the issued and outstanding shares of two companies. Both companies, one of which, Junnet Omnimedia Inc., is based in the British Virgin Islands, and the second one is based in Beijing, China, are controlled by Dr. Wilson Cho, resident of Hong Kong and Dr. Dominic Chan, resident of Los Angeles, USA.

The Letter of Intent was signed on 16 October 2007, under its terms Dynasty proposes to acquire all the shares of these two companies from their current owners, in exchange for the issue of  320 mln new Dynasty Gaming shares, based on a price of Cdn $0.25 per share. This reverse takeover (RTO) transaction is based on a valuation of US $50 mln for the BVI company, and US $30 mln for the Chinese company.

Before closing the transaction, Dynasty must first complete a financing for a minimum of US $30 mln, based on a value of $0.25 per Dynasty share. Upon completion of all conditions under this proposed transaction, the issued capital of the Canadian corporation will increase from over 92.3 mln common shares to over 532.3 mln common shares, excluding any additional shares that may result from the exercise of 24.7 million options and warrants.

The BVI-based Junnet is a distributor of online prepaid cards in China, and a marketer of digital products such as software, music, etc. The Chinese company is engaged in the developing and technical support of these types of digital products throughout China. Dynasty Gaming’s business activities concerning online entertainment distribution and game software development will focus mainly on China.

TSX Group Inc. to purchase NetThruPut Inc. owned by a Canadian Enbridge and BVI-based Circuit Technology

Tuesday, October 2nd, 2007

TSX Group Inc. has made an announcement that it has entered into an agreement with a Canadian company Enbridge Inc. and BVI-registered Circuit Technology Ltd. This agreement will grant TSX Group the option to acquire NetThruPut Inc. (NTP), a company jointly owned by these two companies, at a time after March 15, 2009.

The Calgary-based NTP is the leading electronic trading platform and clearing facility for crude oil. TSX Group has paid $9.5 million for the right to acquire NTP from its shareholders at a price between $40 million and $95 million, depending on NTP’s 2008 net earnings.

BVI company will receive the TSX Group shares, issued subject to Toronto Stock Exchange regulatory approval. This agreement also provides Enbridge and Circuit Technology, with the right to sell NTP under the same terms to TSX Group.

NetThruPut Inc. is an independently operated company holding leading positions in Canada in internet-based crude oil trading systems. It is 52% owned by Enbridge Inc. (whose major business is in crude oil transportation), and 48% by Circuit Technology Limited – a private investment company registered in the British Virgin Islands. NTP provides a secure internet-based crude oil trading and clearing platform for customers to transact business anonymously in real-time, with the assurance of guaranteed commodity delivery and payment. The company has also created a liquid marketplace for buying and selling crude oil.

TSX Group operates two national stock exchanges of Canada, – Toronto Stock Exchange and TSX Venture Exchange, – as well as Natural Gas Exchange (NGX), a leading North American exchange for the trading and clearing of natural gas and electricity contracts.

BVI-registered Deswell Industries becomes 100% owner of Integrated International Limited

Saturday, September 15th, 2007

Manufacturing company Deswell Industries, Inc., registered in the British Virgin Islands, has made an announcement about the acquisition of additional 24% interest in Integrated International Limited – the holding company for Deswell’s electronics and metallics subsidiaries. The BVI company already has  76% interest in Integrated, so now it becomes its 100% owner.

Purchase price for the 24% interest makes 632,080 common shares of Deswell and a cash payment in the amount of approximately US$413,578 to the minority shareholders of Integrated.

Deswell Industries will hold its 2007 Annual General Meeting on October 9, 2007 in New York.