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STRATEGIC INTERNET INVESTMENTS INC FILES (8-K/A) Disclosing Entry into a Material Definitive Agreement, Termination of a Material Definitive Agreement, Unregistered Sale of Equity Securities

June 20, 2014



Item 1.01 Entry into a Material Definitive Agreement

On June 10, 2014, Strategic Internet Investments Inc. (hereinafter "SIII") entered into a Sales and Purchase Agreement (the "Agreement") with PG Proje Gelistirme Gayrimenkul Kiralama ve insaat A.S. (hereinafter "PG") and STAR Leisure & Entertainment Inc. (hereinafter "Star Leisure"). This is a non-arm's length transaction on the basis that Mr. Abbas Salih is a controlling shareholder and Director of both SIII and Star Leisure and will indirectly holds minor interest in PG.

Whereas PG declares that it is the owner of Real Estate retail outlets in Turkey, namely the Akcenter Outlet and Shopping Center (the "Property").

Whereas Star Leisure and the SIII (hereinafter together referred to as the "Purchasers") are jointly desirous or purchasing the Property of PG, intending to finance the acquisition price of Euro 60,000,000 through a combination of, bank loans for up to 50% of the acquisition price and by way of issuance of SIII equity. The SIII equity is anticipated to the issuance of preferred shares.

As funding has not yet been fully secured for this transaction there can be no assurances the transaction will proceed and SIII management cautions investors of this risk.

To view the agreement in full visit

"www.siiincorporated.com/images/Legal/2014/Agreement_PG_StarLeisure_SIII_06102014.pdf"

Item 1.02 Termination of a Material Definitive Agreement

On June 11, 2014, Strategic Internet Investments Inc (hereinafter "SIII") informed G7 Entertainment Ltd (hereinafter "G7") that they would no longer be pursuing the joint venture agreement as outlined in the Letter of Intent (the "LOI") originally signed on August 18, 2012 and filed on EDGAR on August 23, 2012, due to poor market conditions and lack of progress in advancing the project. Accordingly the LOI has been terminated as of the above date.

Item 3.02 Unregistered Sales of Equity Securities

On June 10, 2014, the Strategic Internet Investments Inc. (hereinafter "SIII") entered into a Subscription Agreement (the "Subscription Agreement") with certain investors named therein (the "Subscribers"). Under the terms of the Subscription Agreement, the Company has agreed to issue to the Subscribers, in a private placement transaction (the "Private Placement"), an aggregate of 1,200,000 newly issued shares (the "Private Placement Shares") for an aggregate purchase price of $50,000.00 or $0.04 per share. SIII has received the proceeds of the private placement and the Private Placement Shares will be issued forth with Rule 144 restricted shares.

Immediately following the closing of the Private Placement, the number of issued and outstanding shares of the Company's common stock will increase from 35,159,391 to 36,359,391.

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Source: Edgar Glimpses


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