|By Marketwired .||
|May 29, 2014 07:30 PM EDT||
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.
SYS-CON Events announced today that Interface Masters Technologies, provider of leading network visibility and monitoring solutions, will exhibit at the 17th International CloudExpo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Interface Masters Technologies is a leading provider of high speed networking solutions focused on Gigabit, 10 Gigabit, 40 Gigabit and 100 Gigabit Ethernet network access and connectivity products. For over 20 ye...
Oct. 4, 2015 10:15 PM EDT Reads: 631
As enterprises capture more and more data of all types – structured, semi-structured, and unstructured – data discovery requirements for business intelligence (BI), Big Data, and predictive analytics initiatives grow more complex. A company’s ability to become data-driven and compete on analytics depends on the speed with which it can provision their analytics applications with all relevant information. The task of finding data has traditionally resided with IT, but now organizations increasingl...
Oct. 4, 2015 10:00 PM EDT Reads: 362
SYS-CON Events announced today that Machkey International Company will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Machkey provides advanced connectivity solutions for just about everyone. Businesses or individuals, Machkey is dedicated to provide high-quality and cost-effective products to meet all your needs.
Oct. 4, 2015 09:45 PM EDT Reads: 270
“The Internet of Things transforms the way organizations leverage machine data and gain insights from it,” noted Splunk’s CTO Snehal Antani, as Splunk announced accelerated momentum in Industrial Data and the IoT. The trend is driven by Splunk’s continued investment in its products and partner ecosystem as well as the creativity of customers and the flexibility to deploy Splunk IoT solutions as software, cloud services or in a hybrid environment. Customers are using Splunk® solutions to collect ...
Oct. 4, 2015 09:45 PM EDT Reads: 558
SYS-CON Events announced today that Agema Systems will exhibit at the 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Agema Systems is the leading provider of critical white-box rack solutions to data centers through the major integrators and value added distribution channels.
Oct. 4, 2015 08:30 PM EDT Reads: 619
Apps and devices shouldn't stop working when there's limited or no network connectivity. Learn how to bring data stored in a cloud database to the edge of the network (and back again) whenever an Internet connection is available. In his session at 17th Cloud Expo, Bradley Holt, Developer Advocate at IBM Cloud Data Services, will demonstrate techniques for replicating cloud databases with devices in order to build offline-first mobile or Internet of Things (IoT) apps that can provide a better, ...
Oct. 4, 2015 08:00 PM EDT Reads: 353
While testing is often ignored when it comes to DevOps - it could be the most important aspect of achieving true DevOps success. Without rethinking automated testing from the ground-up, the entire DevOps productivity gain cannot be realized. Large tech companies build their own rapid test automation that runs in minutes across functional, performance, security and other tests. In his session at DevOps Summit, Kevin Surace, CEO of Appvance, will discuss how we learn from these real-world succe...
Oct. 4, 2015 08:00 PM EDT Reads: 390
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical...
Oct. 4, 2015 07:15 PM EDT Reads: 211
SYS-CON Events announced today that VividCortex, the monitoring solution for the modern data system, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The database is the heart of most applications, but it’s also the part that’s hardest to scale, monitor, and optimize even as it’s growing 50% year over year. VividCortex is the first unified suite of database monitoring tools specifically desi...
Oct. 4, 2015 07:00 PM EDT Reads: 338
SYS-CON Events announced today that Secure Infrastructure & Services will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Secure Infrastructure & Services (SIAS) is a managed services provider of cloud computing solutions for the IBM Power Systems market. The company helps mid-market firms built on IBM hardware platforms to deploy new levels of reliable and cost-effective computing and hig...
Oct. 4, 2015 06:30 PM EDT Reads: 720
SYS-CON Events announced today that JFrog, maker of Artifactory, the popular Binary Repository Manager, will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based in California, Israel and France, founded by longtime field-experts, JFrog, creator of Artifactory and Bintray, has provided the market with the first Binary Repository solution and a software distribution social platform.
Oct. 4, 2015 06:30 PM EDT Reads: 482
SYS-CON Events announced today that Harbinger Systems will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Harbinger Systems is a global company providing software technology services. Since 1990, Harbinger has developed a strong customer base worldwide. Its customers include software product companies ranging from hi-tech start-ups in Silicon Valley to leading product companies in the US a...
Oct. 4, 2015 06:00 PM EDT Reads: 726
Interested in leveraging automation technologies and a cloud architecture to make developers more productive? Learn how PaaS can benefit your organization to help you streamline your application development, allow you to use existing infrastructure and improve operational efficiencies. Begin charting your path to PaaS with OpenShift Enterprise.
Oct. 4, 2015 06:00 PM EDT Reads: 319
Clutch is now a Docker Authorized Consulting Partner, having completed Docker's certification course on the "Docker Accelerator for CI Engagements." More info about Clutch's success implementing Docker can be found here. Docker is an open platform for developers and system administrators to build, ship and run distributed applications. With Docker, IT organizations shrink application delivery from months to minutes, frictionlessly move workloads between data centers and the cloud and achieve 2...
Oct. 4, 2015 05:45 PM EDT Reads: 382
SYS-CON Events announced today that Key Information Systems, Inc. (KeyInfo), a leading cloud and infrastructure provider offering integrated solutions to enterprises, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Key Information Systems is a leading regional systems integrator with world-class compute, storage and networking solutions and professional services for the most advanced softwa...
Oct. 4, 2015 05:15 PM EDT Reads: 282