Dolat Ventures Inc (OTCMKTS:DOLV)
Dolat Ventures Inc (OTCMKTS:DOLV) announced that it has been acquired by Mr. DeQun Wang as of January 11, 2017. The acquisition is pursuant to an agreement that was signed on December 2, 2016. Mr. Wang acquired majority stake in the company with a total of 300,000 shares of the Company’s Class C Preferred Stock. This translates to 750,000,000 shares of the company’s common stock.
In addition to the preferred stock, Dolat Ventures Inc (OTCMKTS:DOLV) has bought all of the Ji Ming Yang Amperex Technology Limited’s (Ji Ming Yang) outstanding shares. In exchange, Ji Ming Yang Amperex acquired the company’s 100,000 shares of Class D Preferred Stock and convertible into 100,000,000 shares. Dolat Ventures will change its name to JB&ZJMY Holding Company, Inc. The company also plans to change its symbol.
In yet another segment, Dolat Ventures Inc (OTCMKTS:DOLV)’s directors and officers are returning all the 8,161,244 common shares they hold in exchange for the company’s preferred stock. The company also underwent corporate restructuring and is now a wholly owned subsidiary of Millenium Mining LLC which has entered into a partnership with a private investor to begin mining diamonds at its Bo, Sireea Leone facility. The partnership will be funded by private funds and will finance activities like dredging, ongoing exploration, mining, as well as collection and selling of diamond and other deposits. As part of the agreement, the mining license acquired by Millenium Mining in the Tikonko Chiefdom will be put into the joint venture.
Dolat Ventures Inc (OTCMKTS:DOLV) Chief Executive Officer, Dovid Hauck, said that as part of the preparation for short term acquisitions, the company will reduce its outstanding common stock to 36,910,392 shares so as to be in a position to issue new stock for the acquisitions. He added that the management will retail preferred shares. Hauck said that they have been working hard to see the company’s automation process fully implemented.
Dolat Ventures Inc (OTCMKTS:DOLV) through its fully owned subsidiary, Dove Diamonds & Mining is planning to cut, sell, market and distribute its diamonds and gems in the global market. Dolat Ventures Inc has been operating for the last eight years and has been supplying its diamonds to the United States market.