Investment

Vancouver-based Gold Canyon Resources Inc. announced a strategic investment in the company by Jipangu Inc. of Japan.

Toronto-based Hanfeng Evergreen Inc., a producer of slow and controlled release fertilizers in China, announced that it will build an additional polymer coated urea (PCU) production line with its 50-50 joint venture partner, Shandong Mingshui Great Chemical Group of China. The additional PCU production line will have an annual capacity of 100,000 metric tonnes per annum and will be constructed next to the newly completed 100,000 mtpa PCU facility, which commenced production in May.

Toronto-based Hanfeng Evergreen Inc., a provider of slow and controlled release fertilizers in China, has received written notice from Calgary-based Agrium Inc. exercising its option with Hanfeng to purchase 50% of the outstanding shares of Hanfeng Slow Release Fertilizer (Canada) Co. Ltd. (Subco). The option was granted to Agrium in conjunction with Agrium granting Hanfeng a sulphur coated urea (SCU) licence for use in China and was included as part of the agreement in which Agrium became a 19.6% shareholder of Hanfeng in April 2007.

Edmonton-based Liberty Mines Inc. arranged a C$30 million equity financing with Jilin Jien Nickel Industry Co., Ltd. of Panshi City in China. The financing consists of a private placement of approximately $9.5 million for 85,732,763 common shares at 11 cents per share; and the issuance of 186,994,510 preferred shares at 11 cents per share for the balance of the financing of approximately $20.6 million. Upon closing of the financing, Jilin will own 51% of the common shares of Liberty.

Toronto-based Firan Technology Group Corporation (FTG), a manufacturer of high technology printed circuit boards and precision illuminated display systems, signed an investment agreement with Tianjin Airport Industry Park, China, to set up a manufacturing facility. The agreement also provides for the establishment of FTG Aerospace-Tianjin, a wholly-owned foreign enterprise. FTG plans to have the manufacturing facility in production by the fall of 2009.

Japan’s Mitsui & Company has agreed to pay Vancouver-based Uranium One C$83.1 million for a stake in six South Australia uranium sites. Mitsui and Uranium One will jointly develop the sites with 49% and 51% stakes respectively. Production is expected to begin in 2009 or 2010. The deal represents Mitsui’s first investment in a uranium project. Demand for uranium is expected to grow as nuclear power generation increases.

Saskatoon-based Titan Uranium Inc., a uranium explorer, announced the signing of a letter of agreement with Japan Oil, Gas and Metals National Corporation (JOGMEC). Under the agreement, JOGMEC has committed to funding C$1 million in exploration programs managed by Titan in the first year and may elect to fund a further C$5 million over the subsequent three years of the agreement to acquire an undivided 50% ownership interest in the Border Block Project, located in Saskatchewan’s Athabasca Basin.

Export Development Canada (EDC) announced the signing of a US$5 million financing facility with International Far Eastern Leasing Company Ltd. (IFE) of China, a subsidiary of Sinochem Corporation, incorporated to specialize in the financial leasing business. The facility will be used to facilitate sales in China by Adaltis, a Canadian-based medical diagnostic company, to IFE. Adaltis has been investing to build the foundation of its operations in China for the manufacturing and sales of its proprietary diagnostic test kits and instruments in China.

Vancouver-based gold mining company Buffalo Gold Ltd. has signed a memorandum of understanding (MOU) with China Railway Resources Co. LTD. (CRRC), a wholly-owned subsidiary of China Railway Group Limited (CREC) to invest directly into the company and finance the Mt Kare project in Papua New Guinea and grassroots projects in Australia.

Maruha-Nichiro Holdings Inc. of Japan announced that it will form a capital and business alliance with Halifax-based Clearwater Seafoods Limited Partnership through the indirect purchase of preferred shares, which will be convertible to 33.4% of common share of Clearwater Seafoods. The total consideration will be approximately C$88 million. The alliance will combine both firms´ access to marine resources and allow each company to utilize each other´s global sales network. Clearwater Seafoods is focused on fishing, processing and sales of crusteaceans and shellfish.