VisionChina Media Inc.(Nasdaq:VISN), one of China’s largest out-of-home digital television advertising networks on mass transportation systems, and Focus Media Holding Limited (Nasdaq:FMCN), China’s largest lifestyle community digital out-of-home media company, announced they have entered into a securities purchase agreement, pursuant to which Focus Media will purchase 15,331,305 newly issued common shares of VisionChina Media at a price of US$3.979 per share, equivalent to US$3.979 per ADS, for a total consideration of approximately US$61.0 million.
JJ Media Investment Holding Limited, an entity owned by Jason Nanchun Jiang, the chairman and chief executive officer of Focus Media and one of Focus Media’s largest shareholders, and Front Lead Investments Limited, an entity beneficially owned by Limin Li, the chief executive officer and largest shareholder of VisionChina Media (together the “Investors”) will each also acquire 1,022,087 newly issued common shares of VisionChina Media at the price of US$3.979 per share, equivalent to US$3.979 per ADS, each for a consideration of approximately US$4.0 million.
Following the transaction, Front Lead, an entity beneficially owned by Limin Li, will remain VisionChina Media’s largest shareholder with 17.2% of VisionChina Media’s outstanding issued shares. Focus Media will hold approximately 15%, and JJ Media will hold 1%, of VisionChina Media’s outstanding issued shares respectively. Focus Media, the Investors and VisionChina Media will also enter into a Shareholders Agreement, pursuant to which Focus Media is entitled to nominate one designee to VisionChina Media’s board of directors following the transaction. In addition, Focus Media, the Investors and VisionChina Media will also enter into a Registration Rights Agreement, pursuant to which Focus Media and the Investors will hold certain registration rights.
VisionChina Media Inc. operates an out-of-home advertising network on mass transportation systems, including buses and subways. As of September 30, 2010, VisionChina Media Inc.’s advertising network included 128,139 digital television displays on mass transportation systems in 23 of China’s economically prosperous cities, including Beijing, Shanghai, Guangzhou and Shenzhen.
Power3 Medical Products, Inc. (OTC.BB:PWRM) a leading proteomics company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases, announced that company management believes it is making great progress in its focus on the development, sales, and marketing of its proprietary innovate diagnostic tests for breast cancer, pancreatic cancer, ovarian cancer, colon cancer, and certain neurodegenerative diseases, such as Alzheimer’s and Parkinson’s, to name a few.
Power3 Medical Products, Inc. is a leading bio-technology company focused on the development of innovative diagnostic tests in the fields of cancer and neurodegenerative diseases such as Alzheimer’s disease, Parkinson’s disease and amyotrophic lateral sclerosis (commonly known as ALS or Lou Gehrig’s disease). Power3 applies proprietary methodologies to discover and identify protein biomarkers associated with diseases. Through these processes, Power3 has developed a portfolio of products including BC-SeraPro�, a proteomic blood serum test for the early detection of breast cancer for which it has completed Phase I clinical trials, and NuroPro�, a proteomic blood serum test for the detection of neurodegenerative diseases, including Alzheimer’s, Parkinson’s, and ALS diseases, for which it is currently engaged in Phase II clinical trials. These tests are designed to analyze an individual’s proteins to detect the presence of disease, a patient’s disease progression, a patient’s response to a particular drug, and the mechanisms of disease present in the patient for optimal targeted therapy.
In other news, Power3 Medical Products, Inc. has signed a definitive agreement to acquire all of the stock of Rozetta-Cell Life Sciences, Inc.
Rozetta-Cell Life Sciences, Inc. is a medical biotechnology company that focuses on the delivery and imaging of stem cells during therapy. Power3 plans to effect the acquisition of Rozetta-Cell by merging Rozetta-Cell with and into Power3, with Power3 remaining as the surviving company. The acquisition of Rozetta-Cell is expected to be completed in February 2011.
Orofino Gold Corp. (ORFG.PK) has several Gold development properties in Colombia, a current hot spot of gold production in the world markets.
Orofino Gold Corp. is a China based gold producer with one producing gold mine in Colombia and an option on a strong portfolio of small producers and development/exploration assets in Colombia.
Orofino Gold was founded as a private company in 2009 by former executives and management with over 50 years of combined mining exploration, finance and development experience.
Orofino’s corporate objective is to continue to build shareholder value through the exploration and development of existing projects and additional accretive acquisitions, capitalizing on the extensive experience and relationships that management has developed over the past 25 years.
La Azul is one producing artesanal mine in the Senderos de Oro area controlled by Orofino, it is a mixed sequence of predominantly volcanic rocks with the vien systems comprised of high grade chalcopyrite, galena and sphalerite with pyrite in quartz viens.
Exploration Potential � La Azul and San Carlos Programs – Senderos de Oro Area
Geologically similar to Angostura and Ventana but higher grade, open at depth and to the west toward La Azul.
The observed metallogenic zonation around Senderos de Oro evokes a very viable “hidden porphyry” exploration model. Based upon exploration carried out to date, it is clear that the area hosts significant resources of gold, copper and silver, which, facilitated by the current database and favorable topography, has generated excellent “fast-trackable” bulk-tonnage or high-grade underground Au-Ag-Cu exploration targets.
The area is the site of economic mining activity and it is unlikely that the true grade of gold mineralization has been determined by the crude benefication methods employed by the resident miners.
The existing process of using mercury amalgamation to collect the free gold after grinding, followed by cyanide leach of the crushed material would not, for example, liberate gold tied up in the sulphides.
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