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Imax and CJ CGV Co. Ltd. Sign Joint Venture for Up to 15 New Theatres in South Korea
Toronto-based entertainment technology company, Imax Corporation, announced that CJ CGV Co. Ltd., a theatre exhibitor in South Korea, signed an agreement to install up to 15 new digital Imax theatre systems and to upgrade four existing film-based Imax theatres to digital systems. Under the terms of the agreement, CJ CGV will add ten new joint venture locations in the major cities of South Korea with an option to increase that number to 15. The rollout of new locations is expected to begin later this year. Additionally, the exhibitor will upgrade four of its existing Imax film-based locations, which are not structured as joint ventures, to Imax’s digital projection system.
Minaean International Receives Order for Construction of Retail Outlets at Gas Stations in India
Minaean International Corp., a Vancouver-based developer of quick-build light gauge steel technologies, announced that its wholly-owned subsidiary, Minaean Habitat (India) Pvt. Ltd. (MHI), was awarded a purchase order from Indian Oil Corp. Ltd. for 12 modular retail outlets at gas stations in Karnataka, India. The outlets will be prefabricated in Minaean’s Mumbai plant and then shipped to and installed on site. The order is valued at $200.000.
Cadan Resources Signs Strategic Co-operation Agreement with Australian Co. for Philippine Property
Vancouver-based Cadan Resources Corporation announced that it has signed a strategic co-operation and development agreement with REG Mineral Processing Services Pty. Ltd. of Perth, Australia to advance its Tagpura skarn copper-gold project in the Philippines toward an initial trial test and later commercial production. Cadan Resources is a gold-silver-copper company with a focus on production from its mineral assets, located in Mindanao. REG Mineral Processing is a privately owned company servicing the mining industry requiring process plant management, heap leach management, recruitment, laboratory services and remote site concreting.
Death of Distinguished Canadian Diplomat Arthur Menzies
Arthur Menzies, one of Canada’s most distinguished diplomats and a former ambassador to the People’s Republic of China, has passed away at the age of 93. Mr. Menzies, who was born in China where his parents were missionaries, was Canada’s representative in Beijing in the turbulent period from the death of Mao Zedong through the overthrow of the Gang of Four to the inauguration of the Open Door Policy of Deng Xiaoping which has seen China rise to its prominent economic position in the world today.
Mr. Menzies, who was a fluent Mandarin speaker, was a strong proponent of Canada’s role in the Asia Pacific region which he knew well from his terms as Canada’s top representative in Australia, the then-Malaya, and Burma, as well as his posting in China.
Mr. Menzies is survived by a son, Ken, and daughter, Norah.
Quadra Mining Signs MOU to Create Strategic Partnership with State Grid International Development Ltd. of China
Vancouver-based Quadra Mining Ltd. announced that it signed a memorandum of understanding with State Grid International Development Limited (SGID), a wholly-owned subsidiary of State Grid Corporation of China, the largest Chinese utility company and a major end user of copper, for the formation of a joint venture. The joint venture will develop and operate Quadra’s Sierra Gorda project and Franke Mine in Chile and seek to invest in other prospective copper assets. The parties will be entitled to their proportionate share of the concentrate or cathode production of the joint venture on arm’s-length terms. In addition, as part of the MOU, SGID and Quadra have agreed to undertake a private placement pursuant to which SGID will subscribe for shares representing approximately 9.9% of Quadra’s outstanding capital on a post-subscription basis (approximately 10.9 million shares) at a price of C$13.91 per share.
