Hancock Holding Company (Nasdaq:HBHC) announced that the Hancock Horizon Burkenroad Small Cap Fund, celebrating its tenth anniversary, has received a five-star overall rating from Morningstar. The Fund also ranked in the top one percent amongst small cap core funds for the 10 year period ending December 31, 2011, according to Lipper Analytical - the Fund was the second best performer of 303 funds in this category.
With assets of approximately $20 billion, Hancock Holding Company is the parent company of Hancock Bank and Whitney Bank. The company operates almost 300 full-service bank branches and nearly 400 ATMs across a Gulf South corridor spanning south Mississippi; southern Alabama; south central Louisiana; the northern, central, and Panhandle regions of Florida; and metropolitan Houston, Texas.
Majestic Gold Corp. (MJGCF.PK)
Majestic Gold Corp. 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.
Amid recession fears in March 2008, the price of gold topped $1,000 an ounce for the first time in history.
Traditionally, investors try to preserve their assets during hard economic times by investing in precious metals, such as gold and silver. The World Gold Council released a report in February 2009 that indicated the demand for gold rose sharply in the last half of 2008.
Gold is chemically inert, which also explains why it never rusts and does not cause skin irritation. If gold jewelry irritates the skin, it is likely that the gold was mixed with some other metal.
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 company: www.majesticgold.net
BBCN Bancorp, Inc. (Nasdaq:BBCN) announced preliminary financial results for the fourth quarter of 2011. The merger of Center Financial Corporation (”Center”) with and into Nara Bancorp, Inc. (”Nara”) was completed on November 30, 2011, and marked the beginning of operations under the new name of BBCN Bancorp, Inc. (”BBCN” or “the Company”). As a result of the significant time required to complete the acquisition accounting adjustments related to the merger, the Company is still working through the fair value adjustments and, as such, announced that complete financial results for the fourth quarter of 2011 would be reported after the markets close on Tuesday, February 7, 2012, and its quarterly conference call would be held on Wednesday, February 8, 2012 at 9:30 a.m. Pacific Time / 12:30 p.m. Eastern Time.
BBCN Bancorp, Inc. is the parent company of BBCN Bank, the largest Korean American bank in the nation with more than $5 billion in assets as of September 30, 2011.
Oritani Financial Corp. (Nasdaq:ORIT), the holding company for Oritani Bank (the “Bank”), reported net income of $7.6 million, or $0.18 per basic and diluted common share, for the three months ended December 31, 2011, and $15.0 million, or $0.33 per basic (and $0.32 diluted) common share, for the six months ended December 31, 2011. This compares to net income of $7.1 million, or $0.13 per basic and diluted common share, for the three months ended December 31, 2010, and $14.2 million, or $0.27 per basic and diluted common share, for the six months ended December 31, 2010.
Oritani Financial Corp. is the holding company for Oritani Bank, a New Jersey state chartered bank offering a full range of retail and commercial loan and deposit products.
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