Archive for April, 2018

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.