Hutchison Port Holdings, a private holding company registered in the British Virgin Islands and headquartered in Hong Kong, has started port expansion project in Pakistan. The Group Managing Director had a meeting with the Prime Minister of Pakistan Imran Khan and with Ambassador at Large for Foreign Investment Mr. Ali Jehangir Siddiqui, where he presented Hutchison Ports’ global network consisting of 52 ports and including the operations in Karachi for over 20 years. During the meeting, the director of the BVI holding was accompanied by Mr. Andy Tsoi, Managing Director Middle East & Africa and other senior executives of Hutchison Ports.
Hutchison Port Holdings confirmed the commencement of the construction of the second phase of Pakistan Deep Water Container Port project with US$240 million of new investment, to achieve a handling capacity of 3.2 million TEU upon completion. Total investment of Hutchison Ports in Pakistan will annually bring over US$96 million to the government in the form of taxes and concession fees.
Also, the representative of the BVI company highlighted the technologies and industrial practices brought to the country by Hutchison Ports, the most recent of which was Regional Operations Centre. The port industry of Pakistan for the first time received such technologies as the remote-controlled ship-to-shore cranes and semi-automated yard cranes.
The US biotechnology firm LyGenesis announced that the investment was made by the British Virgin Islands-registered holding company Juvenescence Ltd., in the amount of US$3 million.
LyGenesis is working with lymph nodes to regrow functioning organs with patient’s own body, focusing on patients with end-stage liver condition, and the investment will enable the completion of work required for human clinical trials.
LyGenesis was established on the basis of academic research, which was partially funded by the National Institutes of Health and conducted at Pittsburgh’s McGowan Institute for Regenerative Medicine, and revealed that a variety of different cells types and tissues, including the liver, could engraft and grow within lymph nodes. LyGenesis licensed patents for the technology from Pittsburgh.
Canadian Quantum Energy Corporation, TSX-listed company actively engaged in exploring oil and gas opportunities in Western Canada, has entered into an investment agreement with British Virgin Islands-registered company Lang International Holdings Limited. Under the terms of the agreement, on or before May 2, 2014 the BVI company or any of its associates will provide a short term loan to Canadian Quantum, in the amount of US$350,000. This loan, secured against the personal property of the Canadian company, will be repaid on the earlier of the closing of the Equity Private Placement, no later than May 30, 2014. If any amount of the loan is unpaid following the Maturity Date, it will bear interest of 12 per cent per annum.
Canadian Quantum intends to complete a private placement offering of Common Shares (Equity Private Placement) pursuant to which Lang or any of its associates would purchase 12,750,000 Common Shares at a price of US$0.10 per Common Share for gross proceeds of US$1,275,000. Concurrently with the closing of the Equity Private Placement, a subsidiary of Canadian Quantum will purchase certain seismic equipment from Lang at a purchase price of 10,971,000 Common Shares. Canadian Quantum also intends to complete a private placement offering of series 1 convertible secured debentures in the aggregate principal amount of up to US$1,875,000, pursuant to which Lang or any of its associates will purchase Series 1 Debentures and the remaining amount will be subscribed for by the holders of the currently outstanding debentures.
TSX-listed investment issuer Urban Select Capital Corporation has entered into an agreement with Oriental Sense Development Limited, a private BVI-incorporated company, pursuant to which Oriental Sense will acquire 12,500,000 common shares of the Canadian company for proceeds of US$1,000,000 and at a price of US$0.08 per share.
This is an arm’s length agreement, and the BVI corporation owns no securities of Urban Select. After the completion of the investment, Oriental Sense will own approximately 30.56 per cent of the issued and outstanding shares, and as a result will hold the control of the Canadian company.
Completion of the transaction is subject to the approval of the Exchange and majority of the Urban’s shareholders at the annual and special general meeting scheduled to be held on January 9, 2014.