DemandTec, Inc. (Nasdaq:DMAN) announced that Tom Croke has been promoted to Senior Vice President of Worldwide Retail Sales effective immediately. Croke will report to Dan Fishback, DemandTec’s President and Chief Executive Officer.
DemandTec, Inc. provides collaborative optimization network of software services connecting retailers and consumer products (CP) companies.
Globus Maritime Ltd. (Nasdaq:GLBS) announced that it has taken delivery of the M/V “Sun Globe,” a 2007-built Supramax dry bulk carrier it acquired for a purchase price of $30.3 million, which the Company had previously announced in March 2011.
Globus is an integrated dry bulk shipping company that provides marine transportation services worldwide and presently owns, operates and manages a fleet of dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina and other dry bulk cargoes internationally. Globus’ subsidiaries own seven vessels with a total carrying capacity of 452,886 DWT.
MAJESTIC GOLD CORP (MJGCF.PK)
Gold is a soft metal with a characteristic yellow color. Gold is the most malleable and ductile of any element. It is unaffected by air, water, alkalis and acids, with the exception of “aqua regia”, HNO3/HCl. The fact that it is chemically unreactive means that it is often found in its natural state. Gold is a good thermal and electrical conductor and has excellent reflective properties to both light and infrared.
Most of the metal is retained for use as bullion reserves, but some is used within the electronics and jeweler industries, where it is frequently alloyed with other elements to improve the mechanical properties of the metal (e.g. copper and silver). Other uses for Gold are as a heat reflecting coating for glass as well as decorative medium.
MAJESTIC GOLD CORP (MJGCF.PK) engages in the exploration and development of mineral properties in China. The company focuses on its gold project located in the prolific gold region of Song Jiagou in eastern Shandong Province. Majestic Gold Corp. is headquartered in Vancouver, Canada.
MAJESTIC GOLD CORP (MJGCF.PK) has arranged a $10,000,000 loan to advance its Song Jiagou project in China. Nine million dollars ($9,000,000) from the proceeds from the loan will be used by the Company to in connection with its Song Jiagou project and the balance of one million dollars ($1,000,000) for general working capital purposes.
The loan will have a one year term and loan principal will be convertible at the option of the lender in whole or in part into common shares (”Shares”) of the Company until twelve months from the date of the loan advance at the price of $0.205 per Share. The loan will bear interest at the rate of 7.5% per annum, payable on maturity, and accrued and unpaid interest will be convertible at the option of the lender in whole or in part into shares of the Company until twelve months from the date of the loan advance at Market Price at the time of conversion.
The lender is at arm’s length from the Company and will not become an insider as a result of any conversion of principal and interest. All shares issued on any conversion of loan principal or interest will be subject to a four month hold period from the date of advance of loan proceeds. The loan is subject to acceptance by the TSX Venture Exchange.
As additional consideration for the loan, the Company has agreed to forward at least $9 million to Majestic Yantai Gold Ltd., a British Virgin Islands company owned 94% by the Company to be used to further advance its Song Jiagou project. The Borrower has also agreed to a 90 day period for reciprocal due diligence reviews and discussions for the possible further involvement of the Lender in the Song Jiagou project.
In the event that no further agreement is reached between the Lender and the Company during the 90 day period, then the loan and a minimum of seven (7) months interest will automatically convert to shares in the Company at a price of $0.205 per share and the interest at Market Price respectively. In addition the Company is pleased to announce that it has arranged a non-brokered private placement of up to 15,000,000 shares to be issued at the price of $0.20 per share for gross proceeds of $3,000,000.
For more information about MAJESTIC GOLD CORP. visit its website: http://www.majesticgold.net
Farmer Brothers Co. (Nasdaq:FARM) reported a net loss of $22.3 million, or $1.47 per share, for its fiscal fourth quarter ended June 30, 2011, compared with a net loss of $21.0 million, or $1.40 per share, for its prior year fiscal fourth quarter. For the full fiscal year ended June 30, 2011, the Company reported a net loss of $54.3 million, or $3.61 per share, compared with a net loss of $24.0 million, or $1.61 per share, in the prior fiscal year.
Farmer Bros. Co. engages in the manufacture, wholesale, and distribution of coffee, tea, and culinary products. Its product line includes roasted coffee; liquid coffee; and coffee related products, such as coffee filters, sugar and creamers, assorted teas, cappuccino, cocoa, spices, gelatins and puddings, soup, gravy and sauce mixes, pancake and biscuit mixes, and jellies and preserves.
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