Category Archives: BVI company contracts

21Vianet Group entered into share purchase agreement with BVI-registered Personal Group Limited

21Vianet Group, Inc., a leading carrier- and cloud-neutral Internet data center services provider in China, entered into an agreement with Personal Group Limited, the company registered in the British Virgin Islands and wholly owned by Mr. Sheng Chen, the Executive Chairman of the Board of Directors of 21Vianet Group. Under the terms of the agreement, the Chinese company will issue up to 60,000 newly created Class C ordinary shares to Personal Group Limited, at a price of US$1.35 per share and subject to certain existing shareholders’ participation right. The issuance has been approved by the company’s audit committee and board of directors.

Under the investor right agreement, two of the existing shareholders of 21Vianet Group, King Venture Holdings Limited and Xiaomi Ventures Limited, have the participation right to subscribe up to 5,049 and 1,468 Class C ordinary shares, respectively, on the same terms as the Purchaser; if their participation right will be exercised, the number of shares issued to the BVI company will be reduced accordingly.

Premier African Minerals and Regent Mercantile Holdings Ltd agreed on Loan extension

It was reported by the Board of the BVI-registered company Premier African Minerals Limited that together with Regent Mercantile Holdings Limited they agreed to extend the repayment terms of the convertible loan note for US$350,000, which was entered into in June 2019.

Under the terms of the Loan Agreement and related Subscription Agreement, signed with Regent, the BVI company had to make two equal payments on 1 August 2019 and 1 September 2019. In case Premier failed to make direct repayment of the Loan Agreement, Regent could convert any percentage of payment into new shares of the BVI company, at a conversion price equal to 90 per cent of the daily volume weighted average price.

According to the extension agreement, the Premier will have to repay the principal amount including any interest under the Loan Agreement until 31 January 2020. In consideration of the repayment extension for the period, Regent will have the right to elect a Conversion of the Principal Amount. Upon the expiry of the period the BVI company will have 5 days to settle any outstanding amounts under the Loan Agreement, including all outstanding interest thereon.

Talon Metals Corp. announced financing arrangements

Talon Metals Corp. announced that it has raised total amount of C$9.825 million, and is about to close additional tranche of C$350,000 which will result in the BVI company raising a total of C$10.175 million. The raised funds will be mainly used to make the initial payment in respect of the Tamarack Project, under the existing joint venture agreement.

Also, Talon Metals entered into a series of conversion transactions with Resource Capital Fund VI L.P., which has eliminated approximately C$32 million in debt. The company has completed private placement offering of 39,375,000 common shares at a price of C$0.08 per share for gross proceeds of C$3.15 million. The second tranche is expected to have gross proceeds of C$350,000.

In addition, wholly owned subsidiary of the BVI company, Talon Nickel (USA) LLC, has agreed to grant a net smelter returns royalty to 10782343 Canada Limited, a subsidiary of Triple Flag Mining Finance Bermuda Ltd., in consideration of the payment of US$5.0 million. The company and its subsidiaries have agreed to guarantee the payment and performance obligations under the royalty agreement. The proceeds will be used by Talon Metals to make the initial US$6 million payment due under the JV Agreement.

As a result of the Convertible Loan Conversion and the Promissory Note Conversion, the C$3.15 million private placement and the issuance of shares to its joint venture partner, Resource Capital Fund will hold approximately 55.6% of the issued and outstanding shares of Talon.

Origin Agritech signed Financing Support Agreement with Tiger Capital and Longhan Investment

Origin Agritech Ltd., an agriculture technology and rural e-commerce company incorporated in the British Virgin Islands, entered into a Financing Support Agreement with Tiger Capital Fund SPC and Longhan Investment Management Co., Ltd., allowing Tiger Fund to join Longhan to invest in Origin. The investment is under the Share Subscription Agreement signed in October 2018 by Longhan and the BVI company.

Under the Financing Support Agreement and Share Subscription Agreement, Longhan and Tiger Fund will purchase 1,397,680 shares of Origin Agritech for an aggregate purchase price of US$7,743,147.20.

Joint investment of Tiger Capital Fund, which is an investment company incorporated in Cayman Islands, and Longhan, an investment management company and operating platform focused on government-supported projects in agriculture, will increase financial support for the previously announced strategic cooperation project between Origin and Longhan, in which they will work together to start commercialization of Integrated Saline-Alkaline Land Reclamation technology in 2019.