Cacola Furniture International Limited (SGX:D2U) entered into a memorandum of understanding to acquire Armenia Copper Gold Ltd & Goeur Gold Armenia Ltd from GR Business Holdings Limited on December 12, 2015. In a concurrent deal, Cacola Furniture entered into a convertible loan agreement wherein Ge Jian Ming will extend a loan of SGD 1 million. Cacola Furniture will use the proceeds to fund the proposed acquisition of businesses and assets. The transaction is subject to definitive agreement. The definitive agreement is expected to be signed by January 31, 2016.

Cacola Furniture International Limited (SGX:D2U) cancelled the acquisition of Armenia Copper Gold Ltd & Goeur Gold Armenia Ltd from GR Business Holdings Limited on April 18, 2016. The transaction was subject to signing a definitive agreement, which was not signed within the time duration.