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Motorola Ventures invests in BVI-headquartered TuneWiki

Wednesday, February 10th, 2010
Motorola, Inc. (http://finance.yahoo.com/q?s=MOT), through its global, strategic equity investment arm Motorola Ventures, announced a strategic investment in TuneWiki Ltd. (http://www.tunewiki.com/), the British Virgin Islands-incorporated provider of next generation social media music players and related applications. Motorola as leading investor was joined by new investors Intellect Capital Ventures, which is a venture fund initiative of the leading Nordic Telecommunications operator TeliaSonera, as well as HillsVen Capital, LLC and Novel TMT. TuneWiki’s previous venture capital investor, Benchmark Israel, also took part.
TuneWiki plans to use the investment to expand and enhance its product offerings for developing Internet and mobile platforms. The company will take advantage of platform capabilities and new features found in recently released smartphones, – including stronger CPUs, always-connected capabilities, larger displays and high-resolution screens.
Rani Cohen, CEO of TuneWiki, has commented on the investment, saying: “Teaming up with a global company like Motorola is very exciting for us, … we are passionate about connecting people through music, and having our applications running in many countries with different languages will allow our users to explore the world of music and better understand its meaning as part of a vibrant and engaged community.”
Motorola Ventures focuses on “new-idea” companies and opportunities that complement the business strategy of Motorola, the company known around the world for innovation in communications and focused on advancing the way the world connects. TuneWiki, incorporated under the law of the British Virgin Islands, is an internationally award-winning social media music player. The company was founded in 2007 and has offices in LA, California, Bellbrook, Ohio, and Tel Aviv, Israel.

Motorola, Inc., through its global, strategic equity investment arm Motorola Ventures, announced a strategic investment in TuneWiki Ltd., the British Virgin Islands-incorporated provider of next generation social media music players and related applications. Motorola as leading investor was joined by new investors Intellect Capital Ventures, which is a venture fund initiative of the leading Nordic Telecommunications operator TeliaSonera, as well as HillsVen Capital, LLC and Novel TMT. TuneWiki’s previous venture capital investor, Benchmark Israel, also took part.

TuneWiki plans to use the investment to expand and enhance its product offerings for developing Internet and mobile platforms. The company will take advantage of platform capabilities and new features found in recently released smartphones, – including stronger CPUs, always-connected capabilities, larger displays and high-resolution screens.

Rani Cohen, CEO of TuneWiki, has commented on the investment, saying: “Teaming up with a global company like Motorola is very exciting for us, … we are passionate about connecting people through music, and having our applications running in many countries with different languages will allow our users to explore the world of music and better understand its meaning as part of a vibrant and engaged community.”

Motorola Ventures focuses on “new-idea” companies and opportunities that complement the business strategy of Motorola, the company known around the world for innovation in communications and focused on advancing the way the world connects. TuneWiki, incorporated under the law of the British Virgin Islands, is an internationally award-winning social media music player. The company was founded in 2007 and has offices in LA, California, Bellbrook, Ohio, and Tel Aviv, Israel.

Posted in BVI company contracts | No Comments »

Aubleauctions.com to close share exchange transaction with BVI-registered holding

Friday, February 5th, 2010

Ableauctions.com Inc., a company working as a high-tech liquidator and an online auction facilitator with more than 3 000 auctions experience, announced that the share exchange transaction with SinoCoking’s  British Virgin Islands holding company Top Favour Limited is to close on February 5, 2010.

Aubleauctions will file an amendment to its Articles of Incorporation, which will change its name to “SinoCoking Coal and Coke Chemical Industries, Inc.” and will effect a 1-for-20 reverse split of Aubleauctions’ common stock shares issued and outstanding. The amendment will be effective on the closing date; also, on that date, according to the share exchange agreement signed on July 17, 2009, Aubleauctions will issue 13,117,952 post reverse split shares of its common stock to the shareholders of Top Favour Limited in exchange for all of the issued and outstanding capital stock of the BVI company. On or immediately upon the closing date, the company will complete the initial closing of a private placement of its equity securities to certain private investors.

The BVI holding company Top Favour Limited controls Henan Province Pingdingshan Hongli Coal & Coke Co., Ltd., which is a coal and coal-coke producer in Henan Province of China.  Hongli conducts its operations through its wholly owned subsidiaries Baofeng Hongchang Coal Co., Ltd. and Baofeng Hongguang Environment Protection Electricity Generating Co., Ltd. (collectively referred to as “SinoCoking”). After the closing date, the principal business of Aubleauctions will be SinoCoking operations, which include coal production and coke manufacturing.

Ableauctions.com Inc. (http://finance.yahoo.com/q?s=AAC), a company working as a high-tech liquidator and an online auction facilitator with more than 3 000 auctions experience, announced that the share exchange transaction with SinoCoking’s  British Virgin Islands holding company Top Favour Limited is to close on February 5, 2010.Aubleauctions will file an amendment to its Articles of Incorporation, which will change its name to “SinoCoking Coal and Coke Chemical Industries, Inc.” and will effect a 1-for-20 reverse split of Aubleauctions’ common stock shares issued and outstanding. The amendment will be effective on the closing date; also, on that date, according to the share exchange agreement signed on July 17, 2009, Aubleauctions will issue 13,117,952 post reverse split shares of its common stock to the shareholders of Top Favour Limited in exchange for all of the issued and outstanding capital stock of the BVI company. On or immediately upon the closing date, the company will complete the initial closing of a private placement of its equity securities to certain private investors.The BVI holding company Top Favour Limited controls Henan Province Pingdingshan Hongli Coal & Coke Co., Ltd., which is a coal and coal-coke producer in Henan Province of China.  Hongli conducts its operations through its wholly owned subsidiaries Baofeng Hongchang Coal Co., Ltd. and Baofeng Hongguang Environment Protection Electricity Generating Co., Ltd. (collectively referred to as “SinoCoking”). After the closing date, the principal business of Aubleauctions will be SinoCoking operations, which include coal production and coke manufacturing.
Ableauctions.com Inc. (http://finance.yahoo.com/q?s=AAC), a company working as a high-tech liquidator and an online auction facilitator with more than 3 000 auctions experience, announced that the share exchange transaction with SinoCoking’s  British Virgin Islands holding company Top Favour Limited is to close on February 5, 2010.
Aubleauctions will file an amendment to its Articles of Incorporation, which will change its name to “SinoCoking Coal and Coke Chemical Industries, Inc.” and will effect a 1-for-20 reverse split of Aubleauctions’ common stock shares issued and outstanding. The amendment will be effective on the closing date; also, on that date, according to the share exchange agreement signed on July 17, 2009, Aubleauctions will issue 13,117,952 post reverse split shares of its common stock to the shareholders of Top Favour Limited in exchange for all of the issued and outstanding capital stock of the BVI company. On or immediately upon the closing date, the company will complete the initial closing of a private placement of its equity securities to certain private investors.
The BVI holding company Top Favour Limited controls Henan Province Pingdingshan Hongli Coal & Coke Co., Ltd., which is a coal and coal-coke producer in Henan Province of China.  Hongli conducts its operations through its wholly owned subsidiaries Baofeng Hongchang Coal Co., Ltd. and Baofeng Hongguang Environment Protection Electricity Generating Co., Ltd. (collectively referred to as “SinoCoking”). After the closing date, the principal business of Aubleauctions will be SinoCoking operations, which include coal production and coke manufacturing.

Posted in BVI company contracts, BVI company holdings, Share Exchange agreements | 1 Comment »

Blandings Capital Ltd published update on proposed transaction with the BVI company

Friday, January 22nd, 2010
Blandings Capital Limited (http://finance.yahoo.com/q?s=BDC-P.V), TSX-listed capital pool company incorporated in December 2006 and listed on the Exchange in October 2007, provided an update on proposed acquisition of all the outstanding shares of the British Virgin Islands company AMG Bioenergy Resources Holdings Ltd. AMG is working in China and other Asian markets in the area of bio fuel feedstock and biodiesel. It is anticipated that this will be Blandings’ qualifying transaction.
Also, Blandings has determined not to proceed with the proposed private placement of common shares which was intended to close concurrently with completion of the acquisition transaction. It has signed an amended and restated share exchange agreement with the BVI company. Pursuant to this agreement, signed on December 31, 2009, the date for closing of the acquisition has been extended to March 31, 2010.
Under the terms of the acquisition, Blandings will acquire from the shareholders of AMG the 15,000,000 of its common shares currently issued and outstanding, each share at a deemed value of $0.33, and will issue, subject to the approval of the exchange transaction, 25,000,000 Blandings common shares in exchange for each issued AMG common share.
Following the completion of the acquisition transaction, the Capital Pool Company will have 45,296,555 common shares outstanding. Blandings also currently has outstanding director and employee share options to acquire 812,500 common shares at a price of $0.10 per share.
The former shareholders of the BVI company and the current shareholders of Blandings will own approximately 72.96% and 27.04% respectively of the issued Blandings common shares.

Blandings Capital Limited, TSX-listed capital pool company incorporated in December 2006 and listed on the Exchange in October 2007, provided an update on proposed acquisition of all the outstanding shares of the British Virgin Islands company AMG Bioenergy Resources Holdings Ltd. AMG is working in China and other Asian markets in the area of bio fuel feedstock and biodiesel. It is anticipated that this will be Blandings’ qualifying transaction.

Also, Blandings has determined not to proceed with the proposed private placement of common shares which was intended to close concurrently with completion of the acquisition transaction. It has signed an amended and restated share exchange agreement with the BVI company. Pursuant to this agreement, signed on December 31, 2009, the date for closing of the acquisition has been extended to March 31, 2010.

Under the terms of the acquisition, Blandings will acquire from the shareholders of AMG the 15,000,000 of its common shares currently issued and outstanding, each share at a deemed value of $0.33, and will issue, subject to the approval of the exchange transaction, 25,000,000 Blandings common shares in exchange for each issued AMG common share.

Following the completion of the acquisition transaction, the Capital Pool Company will have 45,296,555 common shares outstanding. Blandings also currently has outstanding director and employee share options to acquire 812,500 common shares at a price of $0.10 per share.

The former shareholders of the BVI company and the current shareholders of Blandings will own approximately 72.96% and 27.04% respectively of the issued Blandings common shares.

Posted in BVI company contracts, Sales of shares | No Comments »

Albidon Limited publishes update on the transaction with Jinchuan Group

Tuesday, November 10th, 2009

Albidon Limited, nickel exploration and development company registered in the British Virgin Islands, published shareholder update where confirmed the settlement of previously announced transaction with Jinchuan Group Limited. On November 2, 2009, the BVI company already confirmed shareholder approval for its restructuring and recapitalization by Jinchuan Group. In this release Albidon Limited confirmed that settlement of the Transaction took place on November 4, 2009, which included settlement under the Deed of Company Arrangement (DOCA), settlement under the share subscription agreement, and settlement under the secured convertible note deed.

The Deed of Company Arrangement was approved by the creditors of the BVI company on June 18, 2009. The terms of the document include Jinchuan providing funds to the company sufficient to meet creditor claims. The Deed of Company Arrangement was signed by all parties on 7 July 2009.

Jinchuan is a company producing nickel, copper, cobalt, rare and precious metals as well as chemicals. It works in industries of non-ferrous mining, concentrating, metallurgy and chemical engineering. It is the major producer of nickel and cobalt in China. Currently, Jinchuan is the largest shareholder of Albidon Limited, holding 18.4% of its shares, as well as US$55mln in secured debt.

Posted in BVI company contracts, Loans & Repayments | No Comments »

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