Vancouver, BC / ACCESSWIRE / July 4, 2014 / Silk Road Ventures Ltd. (the "Company") is pleased to announce the closing of a private placement of 50,000,000 shares at a price of $.10 per share for proceeds of $5,000,000 (the "Placement"). All common shares issued in the Placement will have a hold period in Canada of four months and a day from the closing.
The Company intends to use the proceeds of this private placement to invest in high growth frontier markets internationally, including Mongolia, Myanmar and Mozambique.
Frontier countries across Asia, Africa and Americas have experienced strong economic growth rates in the last decade on the back of commodities boom, government reforms and foreign capital inflows. Starting from a low base, these countries are expected to maintain high growth momentum in the next decade.
The Company intends to capitalize on a wide range of investment opportunities in selected frontier markets by backing ventures and making acquisitions in high growth industries such as financial services, telecom, media, and property sectors. The Company plans to build strong management teams, seek joint ventures with successful local entrepreneurs and add value through access to capital and bringing international operational expertise to businesses in frontier markets.
The Company is preparing an application for listing on the Canadian Securities Exchange. The Company's board remains as elected in the last AGM.
Mr. Alisher Ali, Director, CEO and Chairman of the Board. Mr. Ali was appointed as Chairman and Director December 27, 2012, and as CEO April 23, 2013. Mr. Ali is Founder of Silk Road Finance, an investment group focused on early frontier markets. Through Silk Road Finance, Alisher founded Eurasia Capital, Mongolia-focused investment bank and Mandalay Capital, Myanmar-dedicated corporate finance advisory firm. The Company intends to capitalize on Mr Ali's extensive investment management, investment banking and advisory experience in emerging and frontier markets including Russia, Kazakhstan, Azerbaijan, Mongolia, Myanmar and Mozambique. Alisher received his Master of International Affairs from Columbia University and an MBA from Oxford University.
Ms. Sylvia McKaige, Director, is an independent Director. Ms Mckaige's appointment was announced April 23, 2013 and is the founder and director of Salween Group, a media communications and marketing company that specializes in helping global brand execute campaigns and content partnerships with local language media in emerging and frontier markets. Ms. McKaige's broad experience over 15 years with CNBC Asia makes her extremely well informed and connected in the targeted frontier markets as well as a discerning independent Director. Sylvia holds an MBA from UCLA Anderson School of Management and National University of Singapore, and a Bachelor of Arts degree from the National University of Singapore.
Donald Gordon, Director, President, CFO has been a Director since May 2012 and is a corporate finance expert with 30 years experience in various capacities related to venture capital, investing, and going public. Mr. Gordon holds BA and MBA degrees from UBC and holds a CFA charter.
ON BEHALF OF THE BOARD