Welcome!

News Feed Item

Bonaparte Resources Inc. Announces Signing of Reverse Takeover Agreements

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/01/14 -- Bonaparte Resources Inc. (TSX VENTURE: BON) ("Bonaparte" or the "Company") is pleased to announce that further to its news release of February 13, 2014, it has signed a definitive purchase agreement for the acquisition of the Black Ice "ERA™ and GCD™ source code and risk analysis software. In addition, the Company has entered into a Consulting Agreement for the provision of management and CEO services by Mr. Mac Kalyan and an Employment Agreement with Ms. Judy Buker Kalyan for the position of Chief Information Officer, both to be effective on closing of the reverse takeover. Under terms of the purchase agreement, Bonaparte will issue 41,000,000 common shares to the sellers of the intellectual property, and issue 2,000,000 shares to a third party. This constitutes a reverse merger, as approximately 70% of the issued shares of Bonaparte will have been issued in connection with this acquisition (the "Transaction").

The Company will be submitting a listing application to the Canadian Securities Exchange ("CSE") for listing of its securities and apply to de-list from the TSX-V upon receiving approval from the CSE. The Company has received written approval from shareholders of over 50% of its currently outstanding shares to the reverse takeover transaction, and therefore the Company will not be calling a shareholder meeting to consider this transaction. The Company has received consent for the transaction from shareholders owning 9,517,662 shares of the Company's 14,113,987 issued shares. Closing is expected to occur as soon as the Company de-lists from the TSX Venture Exchange.

As a condition of closing, Mr. Mike England and Dr. Tom McCandless will be resigning from the Board of Bonaparte and Mr. Mac Kalyan, Ms. Judy Kalyan and Mr. David Taylor will join Mr. Robert Jamieson and Mr. Randy Saunders on the Board. Mr. Saunders will be stepping down as CEO but stay on as an independent director.

The Company has also accepted subscriptions for a $600,000 unit offering at $0.15 per unit, with each unit comprised of one common share and one share purchase warrant, each warrant exerciseable at a price of $0.30 for 2 years from issuance. The financing is a condition of closing as well as borrowing and advancing $100,000 to Mr. Mac Kalyan and his company Black Ice Partners Ltd. for short term working capital, which has also been completed.

Trading of Bonaparte shares on the TSX-V remains halted and is not expected to resume, as the Company intends to delist from the TSX Venture Exchange and apply for a listing on the CSE.

Completion of the Transaction is subject to a number of conditions, including listing of the Company's shares on the CSE, among other conditions. The transaction cannot close until the required conditions are fulfilled. There can be no assurance that the Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed by the Company in its SEDAR filings, any information released or received with respect to the RTO may not be accurate or complete and should not be relied upon.

Trading in the securities of Bonaparte should be considered highly speculative. There is no assurance that the Company can complete any of intended actions contemplated in this press release.

Bonaparte Resources Inc.

T. Randall Saunders, CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Bonaparte Resources Inc.
T. Randall Saunders
CEO
(604) 657-0002
www.bonaparteresources.ca

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Microsoft Azure Container Services can be used for container deployment in a variety of ways including support for Orchestrators like Kubernetes, Docker Swarm and Mesos. However, the abstraction for app development that support application self-healing, scaling and so on may not be at the right level. Helm and Draft makes this a lot easier. In this primarily demo-driven session at @DevOpsSummit at 21st Cloud Expo, Raghavan "Rags" Srinivas, a Cloud Solutions Architect/Evangelist at Microsoft, wi...
SYS-CON Events announced today that Golden Gate University will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Since 1901, non-profit Golden Gate University (GGU) has been helping adults achieve their professional goals by providing high quality, practice-based undergraduate and graduate educational programs in law, taxation, business and related professions. Many of its courses are taug...
Today most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes significant work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reducti...
SYS-CON Events announced today that SIGMA Corporation will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. uLaser flow inspection device from the Japanese top share to Global Standard! Then, make the best use of data to flip to next page. For more information, visit http://www.sigma-k.co.jp/en/.
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: imple...
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, will discuss how by using...
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
SYS-CON Events announced today that CAST Software will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CAST was founded more than 25 years ago to make the invisible visible. Built around the idea that even the best analytics on the market still leave blind spots for technical teams looking to deliver better software and prevent outages, CAST provides the software intelligence that matter ...
SYS-CON Events announced today that Daiya Industry will exhibit at the Japanese Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ruby Development Inc. builds new services in short period of time and provides a continuous support of those services based on Ruby on Rails. For more information, please visit https://github.com/RubyDevInc.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
Is advanced scheduling in Kubernetes achievable? Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, will answer these questions and demonstrate techniques for implementing advanced scheduling. For example, using spot instances ...
As businesses evolve, they need technology that is simple to help them succeed today and flexible enough to help them build for tomorrow. Chrome is fit for the workplace of the future — providing a secure, consistent user experience across a range of devices that can be used anywhere. In her session at 21st Cloud Expo, Vidya Nagarajan, a Senior Product Manager at Google, will take a look at various options as to how ChromeOS can be leveraged to interact with people on the devices, and formats th...
First generation hyperconverged solutions have taken the data center by storm, rapidly proliferating in pockets everywhere to provide further consolidation of floor space and workloads. These first generation solutions are not without challenges, however. In his session at 21st Cloud Expo, Wes Talbert, a Principal Architect and results-driven enterprise sales leader at NetApp, will discuss how the HCI solution of tomorrow will integrate with the public cloud to deliver a quality hybrid cloud e...
SYS-CON Events announced today that Yuasa System will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Yuasa System is introducing a multi-purpose endurance testing system for flexible displays, OLED devices, flexible substrates, flat cables, and films in smartphones, wearables, automobiles, and healthcare.