|
|
Article: Emerald Acquisition Corporation Completes Reverse Merger and Closes $15 Million Financing.
- Article from:
- China Weekly News
- Article date:
- November 10, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Emerald Acquisition Corporation ("Emerald") announced that it has completed a reverse merger with Merit Times International Limited ("Merit Times"), effective October 22, 2009. In connection with the transaction, Merit Times shareholders received approximately 21,333,332 newly issued shares of Emerald, or approximately 97.77% of the issued and outstanding Emerald ordinary shares. Pursuant to the transaction, Merit Times became a wholly owned subsidiary of Emerald. Simultaneous with the reverse merger, Emerald closed a private placement (the "Offering") of investment units consisting of a total of 5,032,005 ordinary shares and five-year warrants (the "Warrants") for the ...