Tianbao Holdings Ltd.
Tianbao Holdings Signs Term Sheet to Raise US$45 million
Tianbao Holdings Ltd. / Key word(s): Agreement Zhengzhou China PRC – Wednesday – August 12, 2013 – Tianbao Holdings Signs Term Sheet to Raise US$45 million. (Ticker: 3TB1 ) The board of directors announced today that following the appointment of The Quro Trust in February 2013, to commission a US$50 million bond feasibility study for Tianabo Holdings, Quro recommended that Tianbao proceed with a loan funding instead of proceeding with a bond issue. In addition to the recommendations, The Quro Trust also facilitated introductions to private investors and major international and Chinese institutions, who expressed an interest in funding the loan. At this time, It is anticipated that lawyers for Tianbao, The Quro Trust, and the funding parties will be instructed to draw up and review a definitive agreement for the $45,000,000 USD funding and it is anticipated that definitive agreement could be reached by the end of October 2013. Commenting on the progress, Steve Medley, the trustee of The Quro Trust, stated that he is pleased with the progress to date and feels is that if the transaction closes, that this will be a major milestone for Tianbao Holdings, Ltd . He went on to say that both sides of working diligently towards closing the transaction and all matters relating to exchange control have been resolved. He went on to say that he anticipates a further announcement being made in the next 45 days. About The Quro Trust The Quro Trust is an admitted Broker on the GXG Markets UK and a registered New Zealand Financial Service Provider (FSP62941). With Head Offices in ChristChurch New Zealand, The Quro Trust specializes in funding public companies world wide. Tianbao Holdings (the ‘Company’) is an economically-affordable housing manufacturer in the People’s Republic of China. The Company works closely with the Chinese government in acquiring the land for new housing developments and constructing the homes per the specifications of the housing plans of both the national Chinese government as well as the provincial governments, in particular Henan Province, wherein all of the Company’s projects to date have been located. End of Corporate News 15.08.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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