Saturday, February 24, 2018

Aura Minerals and Rio Novo received shareholders approval of the merger

Aura Minerals inc., the mining company which redomiciled from Canada to the British Virgin Islands, and Rio Novo Gold Inc. announced that the merger of Aura and Rio Novo, proposed in the end of 2017 to create strong portfolio of long term mining properties, was approved by the respective shareholders of each company at their Special Meetings of shareholders. The joint management proxy circular of the companies was issued on January 23, 2018.

The closing of the merger transaction, as a result of which the combined entity will operate under the Aura name, is subject to certain customary conditions, including reception of all necessary regulatory approvals. The effective date of the merger is expected to be on or after March 2, 2018.

Friday, February 9, 2018

MIE Maples Investments announced selling shares of Journey Energy Inc.

MIE Maple Investments Limited, BVI-registered subsidiary of MIE Holdings Corporation, announced that it has sold an aggregate of 12,700,000 common shares in the capital of Journey Energy Inc. to Journey for cancellation, for an aggregate consideration of $21,336,000 (approximately $1.68 per share).

The shares disposed of represent 24.8 per cent of the issued and outstanding shares of Journey Energy. Before selling the shares, the BVI company beneficially owned and controlled 16,355,798 shares, representing 31.9 per cent of the issued and outstanding shares. After closing the disposition, MIE beneficially owns and controls 3,655,798 shares representing 9.5 per cent of the issued and outstanding shares. The company disposed of shares for investment purposes.

Saturday, February 3, 2018

Brookmount Exploration completed share exchange agreement with BVI company

Brookmount Explorations Inc., the United States exploration and development company, has announced the execution of a share exchange agreement with the shareholders of SL Group Holdings Limited, incorporated in the British Virgin Islands.

Under the terms of the agreement, Brookmount Explorations has acquired all the issued and outstanding shares of the BVI company. Upon completion of the transaction, shareholders of SL Group Holdings Limited will get voting control of Brookmount Explorations, Inc. and SL Group Holdings will become a wholly owned subsidiary of the US company.

For Brookmount Exploration, the transaction will mean acquisition of 90% interest in a fully operational and producing gold mining business based in Indonesia; the remaining 10% interest will be held by the Indonesian operating partner.