WEB NEWS Acquisition Activity
HONG KONG, Feb. 9, 2015 (GLOBE NEWSWIRE ) -- Yinfu Gold Corporation ("ELRE") (OTC PINK:ELRE) today announced that it is in the process of acquiring Dongguan YouDai Financial Information Services Co., Ltd (YouDai), a P2P lending platform, from Eternal Fairy International Ltd., (EFI), a British Virgin Island corporation.
ELRE has executed an agreement to acquire 100% of the shares and assets of EFI for US$600 million to be paid by the issuance of 1.2 billion common restricted shares of ELRE.
YouDai is an internet financial services company, incorporated in the People's Republic of China, which is operating an online peer-to-peer lending platform (www.youdai365.com) together with multiple finance services including financing counseling, corporate investment counseling, loans application counseling, industrial investment, equity investment and assets management.
The transfer of YouDai's assets to ELRE and the issuance of the 1.2 billion restricted Common Shares to the owners of EFI is scheduled to take place on February 15, 2015 (the "Closing Date"). Immediately at the Closing, ELRE will deliver, a board resolution confirming the order for the issuance of the 1.2 billion Shares. ELRE will also deliver the share certificates representing the 1.2 billion shares issued in the name or names designated by EFI. It is important to note that all certificates representing the shares issued pursuant to the terms and conditions of the agreement, will be held in escrow and deemed to be in the full control of ELRE until the Closing is completed.
On or before February 28, 2015, EFI is required to deliver to ELRE, duly authorized, properly and fully executed documents in English, evidencing and confirming the sale and transfer of 100% of the shares of EFI and its assets specifically detailing the assets and including an asset valuation by an independent appraiser.
Mr. Liu Jun, the Chairman of the Board of ELRE, in a statement said, "YouDai has been profitable in the P2P lending platform market in China and ELRE is working to increase its P2P lending market share in China. We believe that the acquisition of YouDai is an important step toward that goal."
Comments & Business Outlook
HONG KONG, Sept. 18, 2012 (GLOBE NEWSWIRE ) -- Yinfu Gold Corporation ("Yinfu") (ELRE-OTCQB) has entered into an agreement to provide technical and management services for the Niutoushan Copper Ore mine and Monk Bridge Copper-gold Ore mine of Zongyang County, Anhui Province, China.
The Niutoushan Copper Ore mine and Monk Bridge Copper-gold mine, are operating mines located in Anhui Province consisting of 1.84 square kilometers and 0.7316 square kilometers respectively. Niutoushan is producing copper and silver ore and Monk Bridge produces copper and gold ore.
The team at Yinfu successfully negotiated favorable terms to derive 35% of the monthly net profit from the mine production for 3 years. The Company also has the right to acquire the entire interest in the mine for RMB 330 million (US$52.21 million)
Tsap Wai Ping, Yinfu's CEO stated, "We are extremely pleased to have executed this agreement to provide operating services to the Monk's Brook and Niutoushan mines. This is a new dimension of our business from which we expect to derive significant revenues. Management is also in current negotiations on other such opportunities. This is a significant step for Yinfu!"
Deal Flow
HONG KONG, July 5, 2012 (GLOBE NEWSWIRE ) -- Yinfu Gold Corporation ("Yinfu" or the "Company") (OTCQB:ELRE) announced today that it has signed a US$3 million Placing Agent Agreement.
Mr. Tsap Wai Ping, Yinfu's CEO signed the agreement with Legarleon Securities Limited, a Hong Kong based securities firm. The term of the agreement expires on August 26, 2012 and is on a "best efforts" basis. Legarleon will earn a 1% success fee according to shares sold.
The Company plans to use the proceeds from this sale for general company purposes as well as for future acquisitions.
Mr. Tsap commented, "This is a positive step forward for the business in developing and funding our properties. I have had a long history with the Legarleon management and thus have faith in their ability to successfully complete the placement with their clients."
Investor Alert
HONG KONG, June 15, 2012 (GLOBE NEWSWIRE ) -- Yinfu Gold Corporation ("Yinfu" or the "Company") (OTCBB:ELRE) announced today that it has replaced its entire Board of Directors and management.
Mr. Tsap Wai Ping has been appointed as the sole Officer and Director. Tsap Wai Ping is a securities and gold trading professional with 30 years of experience in the industry and is based in Hong Kong.
A new management team is being appointed to review the accuracy of all disclosures as well as all previous share issuances and acquisitions made by the previous board.
The new management is also in the process of completing due diligence on a new mining property.
Yinfu Gold owns a gold mine in Penglai, Shandong Province, China with a capacity of as much as 5,000 tons of gold ore a month. The Penglai Gold Mine is also referred to as the Huwei Gold. The mine and processing plant are located 70 km west of Yantai City and are accessed by a paved road which connects to the mine and processing plant. The Mining License area covers 0.222 km2 within the existing Exploration License area of 0.34 km2. Both the Mining License and Exploration License are owned by our 100% owned subsidiary, Huwei Mineral Invest Co., Ltd.
The Company plans to continue its current mining activities on the Penglai mine and complete exploration to extend the current area and expand operations based on additional sampling.
