Gaurav Gupta — Lord of Seven Hills Holdings FZE Invests in Fura

In an exciting revelation, Lord of Seven Hills Holdings FZE, aka A7H officially proclaimed its investment in Fura Gems Inc. done on 10th October 2019. The company acquired 94,904,408 Common Shares which accounts for approximately 39.2% of the issued and outstanding Common Shares to the date in Fura Gems Inc. at a price of $0.25 per Common Share in connection with the closing of the the “First Tranche Placement” of a non-brokered private placement financing of Common Shares of the Company that is to be completed in one or more additional tranches for total gross proceeds to the Company of C$33,877,500 (the “Private Placement Transaction”).

Lord of Seven Hills Holdings FZE Invests in Fura Gems Inc.
Lord of Seven Hills Holdings FZE Invests in Fura Gems Inc.

Earlier, Gaurav Gupta Fura & Lord Seven Hills — the Controller of L7H had ownership and control both directly and indirectly over a total of 11,455,126 Common Shares, representing approximately 8.5% of the 135,161,147 Common Share that was outstanding prior to the First Tranche Placement.

It was after kick-starting the First Tranche Placement, L7H and its joint actors acquired ownership or control over additional 106,359,534 Common Shares. This accounts for approximately 44.0% of the Common Shares outstanding immediately following the closing of the First Tranche Placement.

Agreements Between the Companies

Following a subscription agreement between L7H and Fura Gems Inc, L7H is expected to acquire 28,755,592 additional Common Shares in one or further tranches as per the Private Placement Transaction. Consequently, L7H will hold a total of 130,204,126 Common Shares, representing approximately 47.9% of the issued and outstanding Common Shares immediately following such issuance. In effect, together with its joint actors, L7H will hold a total of 135,115,125 Common Shares, representing approximately 49.7% of the outstanding Common Shares immediately following such issuance.

Objective Behind the Investment

Not for just the investment purpose, with the acquisition of the Common Shares, L7H foresees a desirable future due to the consolidation of the sector since the industry in which the Company operates as of now is highly fragmented. As such, L7H and its joint actors will monitor this sector and this investment and may, from time to time, increase their direct or indirect ownership, control, or direction of Common Shares or consider other alternative transactions involving the Company to achieve that result.

About the Companies — Lord OF Hills Holdings and Fura Gems Inc.

Though Lord Of Seven Hills Holdings FZE and Fura Gems Inc. are the leading players in their respective fields, both hold different ideologies and terms of services.

Gaurav Gupta director of Lord of Seven Hills Holdings FZE, a Free Zone Establishment investor company based in Dubai, UAE, is one of the business mammoths in the Middle East. The company, ever since its acquisition of Fura Gems Inc. is in a bid to overhaul its business strategies completely. L7H’s HQ is at Office 2808 Indigo Icon Tower, Cluster F, Jumeirah Lakes Towers, Dubai, UAE

Whereas, Fura Gems Inc. is a Canadian company known for its revolutionary gemstone mining and marketing. The company also has Headquarters based in Dubai from where it sources gemstones from its mining sites around the world, using industry best practices. With the L7H investing a massive chunk in the company, the ownership and control will be shifted almost entirely to Dubai.

Gaurav Gupta — Fura & Lord of Seven Hills

Written by

Handling positions of power in the Fura and the Lord of Seven Hills, Gaurav Gupta sensed the opportunity to make the best of the situation.

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