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Majestic, MeadWestvaco, MJGCF.PK, NYSE:MRK, NYSE:MWV, NYSE:SNH, NYSE:UTL, Unitil
Today’s Merck is a global healthcare leader working to help the world be well. Merck is known as MSD outside the United States and Canada. Through our prescription medicines, vaccines, biologic therapies, and consumer care and animal health products, we work with customers and operate in more than 140 countries to deliver innovative health solutions. We also demonstrate our commitment to increasing access to healthcare through far-reaching policies, programs and partnerships.
Merck Sells Its Interest in Johnson & Johnson-Merck Consumer Pharmaceuticals
Merck (NYSE:MRK), known outside the United States and Canada as MSD, recently announced that the company has sold its 50 percent interest in the Johnson & Johnson–Merck Consumer Pharmaceuticals Co. joint venture (JJMCP) to Johnson & Johnson (J&J) affiliates, McNEIL-PPC, Inc., McNEIL MMP, LLC, and Johnson & Johnson, Inc. The venture between Merck and J&J was formed in 1989 to develop, manufacture, market and distribute certain over-the-counter (OTC) consumer products in the United States (U.S.) and Canada.
Merck decided to sell its interest in the joint venture to enable the company to fully focus on building the long-term growth prospects of the wholly-owned consumer products division that had been part of Schering-Plough Inc. prior to the 2009 merger. Under the agreement, Merck will receive a one-time payment of $175 million. Merck’s rights to the Pepcid brand outside the U.S. and Canada are not affected by this transaction. Termination of the JJMCP venture also gives Merck greater freedom to operate in the OTC consumer sector, allowing Merck to fully exploit its pipeline of Rx-to-OTC switches as well as actively pursue OTC licensing activities in the U.S. and Canada.
Following the transaction, J&J will own the venture’s assets which include the exclusive rights to market OTC Pepcid, Mylanta, Mylicon and other local OTC brands where they are currently sold in the U.S. and Canada. The partnership assets include a manufacturing facility in Lancaster, PA.
For more information, visit www.merck.com and connect with us on Twitter, Facebook and YouTube.
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MeadWestvaco Corporation (NYSE:MWV) announced that the company will host qualified investors and analysts at its global headquarters in Richmond, Va., on Wednesday, December 14, 2011, to feature the company’s Packaging strategy. The session is expected to begin at 8:00 a.m. and conclude at 2:30 p.m.
MeadWestvaco Corporation (NYSE:MWV), provides packaging solutions to many of the world’s most-admired brands in the healthcare, beauty and personal care, food, beverage, home and garden, and tobacco industries.
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Senior Housing Properties Trust (NYSE:SNH) announced that it has agreed to acquire 13 properties that are majority leased to medical office users and other tenants in medical related businesses, or MOBs, for $167 million. These properties contain 1.3 million sq. ft. and are located in eight states (3 in CA; 2 in IL; 2 in NY; 2 in PA and one in each of AZ, MN, OH and SC). These purchases are expected to be completed in 2011.
Senior Housing Properties Trust, a real estate investment trust (REIT), primarily invests in senior housing properties in the United States.
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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.
Gold chloride is utilized as a catalyst in organic chemistry; it is also utilized for protective coatings on a lot of artificial satellites since it serves as a good reflector of infrared and visible light. Gold is also made in to a thread and utilized in embroidery. White gold can be used as a substitute for platinum and gold flakes are also used in some drinks.
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, please visit their website: http://www.majesticgold.net
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Unitil Corp. (NYSE:UTL) announced that its Board of Directors declared the regular quarterly dividend on the Company’s common stock of $0.345 per share, payable on November 15, 2011 to shareholders of record on November 1, 2011. This quarterly dividend results in a current effective annual dividend rate of $1.38 per share.
Unitil Corporation, a public utility holding company, engages in the distribution of electricity and natural gas in the states of New Hampshire, Massachusetts, and Maine.
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