RGC is issued by Success Plus Global Limited (“Issuer“), which wholly-owned subsidiary is the contractor and operator of Kongnan Block oil fields with a combined total area of 31.29 km2 in the PRC (“Project“), which has proved and probable reserves of about 3.1 million barrels (MMbbl) and 4.7 MMbbl respectively as at 31 December 2021. For the two years ended 31 December 2021, the Issuer group had total gross oil production of 482,563 barrels (Bbls) and 469,554 Bbls respectively, representing an increase of approximately 2.8%, while net production entitlement to the Issuer group has increased approximately 32% from 275,195 Bbls in 2020 to 364,894 Bbls in 2021. Such increase was principally due to the higher production sharing ratio entitled by Issuer group for increased drilling efforts with new wells deployed in 2021. Net proceeds from the STO and note offering will be used for future expansion of oil production from the Project and other general corporate purposes.
RGC offers up to a maximum of USD25 million debt instrument (through single or multiple tranches), while bearing interest at the fixed rate of 4.5% per annum, payable semi-annually, plus an additional upside return based on the then oil price at maturity, due on the third anniversary from the date of original issuance. Furthermore, the debt instrument will be subject to a put option exercisable by holders thereof before the first anniversary of closing.
RGC offering will start on June 9, 2022, and is available for accredited investors in the US and to certain non-US Persons outside the US. To cater for both traditional investors and crypto-savvy investors, the offering is available in both conventional uncertificated form and digitized blockchain token form. RGC will be traded on Securitize’s ATS secondary trading exchange upon the expiry of the respective lock-up period subject to the relevant rules, regulations and guidelines of the investor’s respective country of origin. Please visit RGC’s project site for details of offering – https://richglory.global/.
Coinstreet is the global lead consultant and coordinator and StormHarbour is the asset manager of the Issuer of the RGC. Securitize Markets is the broker-dealer and ATS provider; and Securitize, LLC is the transfer agent and solution provider for tokenizing/issuing and managing RGC token throughout their lifecycle.
Neither the notes nor the token have been, nor will be, registered under the United States Securities Act of 1933, as amended, or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer, solicitation or sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Disclosures
Securities offered on the Securitize Markets ATS have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Assets listed herein, such as digital assets or tokens using blockchain, are speculative, involve a high degree of risk, are generally illiquid, may have no value, have limited regulatory certainty, are subject to potential market manipulation risks and may expose investors to loss of principal. Blockchain investing involves a degree of risk that can be different from traditional markets. These risks include, but are not limited to, risk of regulatory uncertainty, market adoption, market manipulation, market exiting, price volatility and security risk. Investments in private placements, start-up investments in particular, are also speculative and involve a high degree of risk. Investors must be able to afford the loss of their entire investment. Eligibility to buy and sell securities on the Securitize Markets ATS is determined by Securitize Markets in its sole discretion. Offers to sell, or the solicitations of offers to buy any security can only be made through official offering documents that contain important information about risks, fees and expenses associated with the applicable securities available for trading on the Securitize Markets ATS. Investors should conduct their own due diligence, and are encouraged to consult with a financial advisor, attorney, accountant, tax advisors, and any other professional that can help you to understand and assess the risks associated with any investment opportunity. Past performance is not indicative of future results. There is no guarantee that a diversified portfolio will enhance overall returns, outperform a non-diversified portfolio, or prevent against loss.
About Coinstreet
Founded in 2017, Coinstreet is an award-winning professional advisory and consulting firm in the Digital Asset sector. Coinstreet Partners also offers innovative technology, business and operation solutions, covering four key business segments including: (1) Primary Market, Asset Tokenization & Initial Offerings, (2) Metaverse Solutions & Non-Fungible Tokens (NFT), (3) DeFi, Prime Brokerage and Private Banking, (4) Asset Management, Tokenized Funds & Digital Asset Custodian. Coinstreet is a co-organizer of TADS Awards (www.TADSawards.org) – the world’s first international award for the Tokenized Assets and Digitized Securities sector that was first held in 2020. For more information, please visit – https://coinstreet.partners/
SOURCE Coinstreet Partners
