Welcome!

News Feed Item

KCC Capital Corporation Completes Qualifying Transaction and Changes Name to New Era Minerals Inc.

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/29/14 -- New Era Minerals Inc. (formerly "KCC Capital Corporation") (the "Company") is pleased to announce that it has completed its qualifying transaction (the "Qualifying Transaction") pursuant to the policies of the TSX Venture Exchange ("TSXV"). In connection with the Qualifying Transaction, the name of the Company was changed from KCC Capital Corporation to New Era Minerals Inc. The Company anticipates that at the open of trading on June 2, 2014, the Company will no longer be considered a Capital Pool Company and the Company's common shares (the "Common Shares") will be reinstated for trading on the TSXV under the trading symbol "NEM". The Company will be classified as an "Exploration and Mineral Development" Tier 2 Issuer on the TSXV.

Pursuant to the Qualifying Transaction, Haijin International Limited ("Haijin") amalgamated with a British Virgin Island subsidiary of the Company to continue as an amalgamated company ("Amalco") and the Company acquired all of the outstanding shares of Haijin (the "Haijin Shares"), in exchange for the issuance of 76,596,000 Common Shares at a deemed price of Cdn$0.50 per share, as follows: (i) 69,000,000 Common Shares were issued to shareholders of Haijin existing prior to the transaction (the "Existing Haijin Shareholders") in exchange for 69,000,000 Haijin Shares held by the Existing Haijin Shareholders; (ii) 4,146,000 Common Shares were issued to shareholders of Haijin (the "Haijin Private Placement Shareholders") in exchange for 4,146,000 Haijin Shares held by the Haijin Private Placement Shareholders and purchased under a private placement that closed immediately prior to the closing of the Qualifying Transaction at a price of Cdn$0.50 per Haijin Share; and (iii) 3,450,000 Common Shares were issued to Cinaport Inc. ("Cinaport") in exchange for 3,450,000 Haijin Shares issued to Cinaport immediately prior to the closing of the Qualifying Transaction pursuant to an Advisory Agreement dated September 19, 2012 in connection with Cinaport's services in advising Haijin with respect to the Qualifying Transaction.

61,333,333 Common Shares (the "Transaction Escrowed Securities") issued to Existing Haijin Shareholders are subject to a TSXV Surplus Escrow Agreement to be released in stages over the following three years, and 3,277,500 Common Shares issued to Cinaport are subject to trading restrictions over the following three years that correspond with the same dates of release from escrow as the Transaction Escrowed Securities.

Prior to the closing of the Qualifying Transaction, the Company consolidated its capital on a 8.41 old for one (1) new basis. The 76,596,000 Common Shares issued pursuant to the Qualifying Transaction were issued on a post-consolidation basis of one Haijin Share for each Common Share.

As a result of the Qualifying Transaction, Amalco became a wholly-owned subsidiary of the Company. Haijin has a 95% interest in the Suyeke Nickel Deposits in Tuoli County, Xinjiang, China.

The Board of Directors of the Company now consists of: Cheng Kam On, Sun Tian Xiang, Joanne Yan, Thomas Greg Hawkins, David Kong, Dickson Hall and Don Wright. The officers of the Company are Cheng Kam On - Chairman of the Board of Directors, Sun Tian Xiang - Chief Executive Officer, Wei (Samuel) Shen - Chief Financial Officer and Weishan (Vicky) Gao - Corporate Secretary.

In connection with the Qualifying Transaction, the Company obtained a new CUSIP and ISIN number: CUSIP#644299109; ISIN#CA6442991098. The "old" common shares of the Company (CUSIP #48243B) will be delisted.

In connection with the Qualifying Transaction, Cheng Kam On, Chairman and a director of the Company, through the issuance to Haijin Group Limited ("HGL"), a company 100%-owned by Mr. Cheng, has ownership, directly or indirectly, or exercises control or direction over, an aggregate of 51,333,333 Common Shares, representing approximately 66.13% of the issued and outstanding Common Shares.

Details respecting the Qualifying Transaction can be found in the Company's Amended and Restated Filing Statement dated May 9, 2014, which is available for downloading under the Company's SEDAR profile at www.sedar.com.

About New Era Minerals Inc.

New Era Minerals Inc., through its wholly-owned indirect subsidiary, Haijin International Group Limited, owns 95% of Xinjiang Yongkun Mining Co. Ltd. ("Yongkun"). Yongkun's principal activities are the exploration, evaluation and development of mineral property interests in the People's Republic of China ("PRC"), including Yongkun's 100%-owned Suyeke North nickel property located in Tuoli County, Tacheng Area, Xinjiang-Uyghur Autonomous Region, PRC.

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:
Avi Grewal
416-213-8118 x210
[email protected]

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
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"We're developing a software that is based on the cloud environment and we are providing those services to corporations and the general public," explained Seungmin Kim, CEO/CTO of SM Systems Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"We're focused on how to get some of the attributes that you would expect from an Amazon, Azure, Google, and doing that on-prem. We believe today that you can actually get those types of things done with certain architectures available in the market today," explained Steve Conner, VP of Sales at Cloudistics, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are moving to the cloud faster than most of us in security expected. CIOs are going from 0 to 100 in cloud adoption and leaving security teams in the dust. Once cloud is part of an enterprise stack, it’s unclear who has responsibility for the protection of applications, services, and data. When cloud breaches occur, whether active compromise or a publicly accessible database, the blame must fall on both service providers and users. In his session at 21st Cloud Expo, Ben Johnson, C...
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, introduced two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a multip...
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
"The reason Tier 1 companies are coming to us is we're able to narrow the gap where custom applications need to be built. They provide a lot of services, like IBM has Watson, and they provide a lot of hardware but how do you bring it all together? Bringing it all together they have to build custom applications and that's the niche that we are able to help them with," explained Peter Jung, Product Leader at Pulzze Systems Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2,...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, discussed how data centers of the future will be managed, how the p...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
"There's plenty of bandwidth out there but it's never in the right place. So what Cedexis does is uses data to work out the best pathways to get data from the origin to the person who wants to get it," explained Simon Jones, Evangelist and Head of Marketing at Cedexis, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...