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NiHAO Mineral Resources International, Inc (NiHAO) and Macquarie Bank Limited executed a Subscription Agreement

March 2, 2012 - NiHAO Mineral Resources International, Inc (NiHAO) and Macquarie Bank Limited ("Macquarie Bank") executed today a "Subscription Agreement" covering the latter's subscription of Thirty Three Million (33,000,000) common shares (the "Subscribed Shares") with a par value of One Peso (Php1.00) per share.
Under the Subscription Agreemnt, the Subscribed Shares are payable in cash at a subscription price of Nine Pesos and Forty Six Centavos (PhP9.46), or in the total amount of Three Hundred Twelve Million One Hundred Eighty Thousand Pesos (Php312,180,000.00). The difference between the aggregate par value of the Subscribed Shares and the total cash payment made by the Macquarie Bank for the same shall be treated as additional paid in capital in NiHAO.

The aforesaid subscription by Macquarie Bank is pursuant to and in accordance with the Investment Agreement dated 11 February 2012, and its amendment, executed by and among Macquarie Bank, NiHAO and one of the latter's major shareholders, embodying a Multi-tranche Average Price Issuance Program which would result in Macquarie Bank's subscription to newly-issued common shares of stock in NiHAO of up to an aggregate amount of One Hundred Fifty Million (150,000,000) shares on a private placement basis.
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"NiHAO Mineral Resources International, Inc (NiHAO) and Macquarie Bank Limited executed a Subscription Agreement" was written by Mary under the Business category. It has been read 1805 times and generated 0 comments. The article was created on and updated on 05 March 2012.
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