China Gold Pte Ltd.

January 15, 2015 09:48 ET

China Gold Pte Ltd. Acquires Shares of Asia Now Resources Corp. in Share for Debt Settlement

TORONTO, ONTARIO--(Marketwired - Jan. 15, 2015) - China Gold Pte Ltd. ("China Gold") today announced that it has acquired an additional 1,497,600 common shares (each a "Share") in the capital of Asia Now Resources Corp. ("ANR") at a deemed price of $0.05 per Share to settle quarterly interest payment obligations accrued from October 1, 2014 to December 31, 2014 in the aggregate amount of $74,880 (the "Transaction") under the $2,496,000 in aggregate principal amount of senior unsecured convertible debentures (the "Debentures") of ANR held by China Gold. Upon the completion of the Transaction, China Gold's ownership of Shares increased to 60,735,104 representing approximately 52.22% of ANR's issued and outstanding Shares, calculated on a non-diluted basis. In the event that the $2,496,000 in aggregate principal amount of the Debentures are converted into Shares as at the date hereof, and assuming no options are exercised, China Gold would hold 98,175,104 Shares, representing approximately 63.85% of ANR's issued and outstanding Shares. China Gold completed the Transaction for investment purposes only and may acquire further Debentures or Shares, or dispose of its holdings of Debentures or Shares, as investment conditions warrant.

Neither the 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.

Contact Information

  • Lee Kwok Fai
    19 Keppel Road, #03-05
    Jit Poh Building
    Singapore, 089058