Archive for the ‘Share Exchange agreements’ Category

BVI-domiciled Newco Group acquired by the U.S. oil and gas corporation

Sunday, August 26th, 2007

The Nevada-incorporated JMG Exploration, Inc. has announced the acquisition of Newco Group, Ltd. – a holding company registered in the British Virgin Islands. This BVI company, in its turn, acquires the majority equity interest in Iris Computers Ltd., one of the leading IT product distributors in India.

JMG, which specializes in exploration of oil and natural gas in the United States and Canada,  is going to sign the definitive share exchange agreement with Newco and its shareholders within the next some days. The end of the share exchange is contingent upon receiving the approval of JMG shareholders. However, no assurance can be given that the share exchange between JMG and BVI-based Newco is completed.

The Board of Directors of JMG has approved providing a $3.0 million loan to Newco for the purpose of obtaining a majority equity interest in Iris Computers. The loan to Newco is expected to be made during the next 10 days. If the acquisition of the BVI company by JMG is not completed by the end of 2007, Newco is obligated to repay the loan by that date.

Jingwei International signs share exchange agreement with Neoview Holdings

Sunday, June 3rd, 2007

Jingwei International Investments Ltd., a leading technology services provider in China, announced that it has completed a reverse merger and share exchange with the shareholders of Neoview Holdings Inc., a company registered in the British Virgin Islands and having its main office in Chicago.

According to the share exchange agreement, the Chinese company, which is also incorporated under the law of the BVI, completed a $16.9 million private placement with certain accredited investors. In the share exchange transaction, the newly issued shares of the Neoview Holdings were exchanged for shares held by Jingwei shareholders.

Sign of the agreement was preceded by the negotiations between the two BVI companies, on potential acqusition or business combination. As a result of the current transaction, the shareholders of Jingwei own approximately 87% of Neoview’s shares, and Jingwei becomes a wholly-owned operating subsidiary of Neoview.

Neoview is going to amend its Articles of Incorporation to change its name to Jingwei International Ltd. Neoview will also replace its current management team by the executives of Jingwei and will follow the current business plan of Jingwei.

Jingwei International Investments provides software and data mining services, operates under exclusive licensing and revenue sharing agreements with China Mobile and China Unicom, and having software installations with several additional Chinese telecom companies.

Intra-Asia Entertainment Corporation completes share exchange with (BVI-registered) Cabowise International Ltd.

Tuesday, May 22nd, 2007

Intra-Asia Entertainment Corporation announced on May 15 that it had entered into a share exchange agreement with the shareholders of Cabowise International Ltd., which is domiciled in the British Virgin Islands. By this share exchange, the company completed a $10 million private placement with certain accredited investors. Intra-Asia Entertainment, which has approximately 147.0 million shares outstanding, issued to the stockholders of Cabowise 81,311,179 shares of its common stock in exchange for all of the issued and outstanding capital stock of Cabowise.

In conjunction with the share exchange, an indirect wholly owned Chinese subsidiary of Intra-Asia Entertainment exercised an option assigned to it by Cabowise, to purchase an 85% interest in Beijing PKU Chinafront High Technology Co.

PKU is a total solutions provider of Geography Information Systems application software and services, based in Beijing, China, and providing its products and services to various industries and segments of the Transportation, Digital City, and Land & Resources departments of the Chinese government. The management team of Intra-Asia Entertainment is led by President and Chief Executive Officer Mr. Shudong Xia, the founder of PKU.