Archive for December, 2016

Talon Metals signed amending agreements with Kennecott Exploration and Resource Capital Fund

Friday, December 30th, 2016

Talon Metals Corp. entered into an amending agreement with Kennecott Exploration Company, in respect of the Exploration and Option Agreement between BVI company’s subsidiary Talon Nickel (USA) LLC and Kennecott Exploration signed in June 2014. Under the terms of the amending agreement, Talon Nickel and Kennecott Exploration will co-fund a winter exploration program at the Tamarack Project for the amount of approximately US$3,500,000. The proportional share funded by Talon Nickel is 18.45 per cent.

Also, the BVI corporation entered into an agreement with Resource Capital Fund VI L.P. to amend a loan agreement signed in November 2015 between Talon Metals, RCF and some subsidiaries of Talon. According to this Loan Amending Agreement, RCF agreed to increase the principal amount of the unsecured loan previously advanced to the company by US$2,000,000(from US$14,000,000 to US$16,000,000). Talon Metals has agreed to issue to Resource Capital Fund
15,000,000 common share purchase warrants, each exercisable for one common share at a price of CDN$0.11 per Warrant Share for a period of 48 months from the date of issuance of such Warrants.

By words of Sean Werger, President of Talon, “The decision by RCF to increase the amount of the loan by US$2 million provides Talon with the working capital it needs to co-fund the winter exploration at Tamarack… It also provides Talon with a much stronger treasury after the winter exploration program.”

TechFaith announced receiving of new Enterprise Device Order

Sunday, December 18th, 2016

BVI-incorporated and Nasdaq-listed China TechFaith Wireless Communication Limited has won a new enterprise device order for the Latin America market, from a customer working in the Liquid Petroleum Gas delivery industry where the highest level of protection is needed to avoid any unintentional ignitions.

The company has previously designed smartphones operating with lower voltages and reduced heat generation, which were a good platform to develop the model for using in Latin America.

CEO of TechFaith, Mr. Deyou Dong, said in his comments that this win showcases company’s ability to “work with customers that require exacting technical standards and unique industry specific requirements. In the case of the Liquid Petroleum Gas delivery industry, safety is paramount and dictates the architecture of the mobile device. We are very happy that we were able to design a safety compliant smartphone device that does not sacrifice the features our customer required, with an attractive design. This is just the latest win for us and it reflects the increased number of inquiries from customers worldwide.”

Lenta announced opening of acquired stores

Friday, December 9th, 2016

Russian hypermarket group Lenta, one of the largest retail chains in Russia wholly owned by BVI-registered Lenta Ltd, announced the opening of 11 new stores which were acquired during the purchase of the Kesko food retail business in Russia, previously operating under the K-Ruoka brand.

Total selling space of new Lenta stores is 42,0231sq.m, of which 39,657 sq.m is owned and 2,366 sq.m is rented. The stores are compatible with existing Lenta formats, and all of the store locations are strategically complementary to Lenta’s existing stores in the region. All stores are opened 24/7.