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.

Lenta Ltd issued audited financial results for 12M 2018

Lenta Ltd, one of the largest retail chains in Russia, registered in the British Virgin Islands, announced its unaudited consolidated financial results for the year ending 31 December 2018. According to company’s financial highlights, in this year total sales of the company grew 13.2%, including retail sales growth of 13.6% and wholesales growth of 6.0%. There was a slight gross margin increase of 21.5% due to improved supplier conditions and store productivity.

Capital expenditures made Rub 22.1bn, a decrease of 18.8% as compared to fiscal results of 2017, mainly to the slower rate of expansion and lower investments in land and future stores than to the prior year. Net cash generated from operating activities, before net interest and income taxes, was Rub 32.4bn compared to Rub 34.8bn in 2017, which is a decrease of 6.9%. Net interest expenses were Rub 9.1bn, a decrease of 13.4% compared to 2017 due to the reduction of interest rates.

In 2018, the company opened 13 new hypermarkets and 38 supermarkets, Also, new Lenta App was introduced in the end of 2018, and the number of installations exceeded 1.4 million at the date of the announcement.

Luxoft Holding reported results for fiscal Q3 2019

Luxoft Holding has announced its results for the fiscal third quarter of 2019, including a small year-over-year decline. BVI company’s performance is very much influenced by the planned acquisition by IT services and solutions provider DXC Technology. However, the US$2 billion acquisition deal is still subject to regulatory approval.

For the three months ended December 31, 2018, Luxoft’s revenue was near the low end of Luxoft’s autumn guidance, which named the range of US$230 million to US$235 million. Luxoft’s net income arrived at US$0.61 per share, down from US$0.89 in the same period last year. Adjusted EBITDA was US$32.6mln – a 18.5% decline as compared to the previous year period.

Top two accounts of Luxoft, UBS and Deutsche Bank, represented 24.9% of total revenue, down 9.5% from the same period last year. Top five accounts of the BVI company made 39% of revenue, down 7% from a year ago, and its top 10 accounts were 50.9% of revenue (down 6.3%).

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.