Magnolia Lane Financial, Inc. acquired 69.57% of Palmerston Stock Agency, Inc. from Ian Raleigh and Michael Raleigh on May 13, 2013. Ian Raleigh and Michael Raleigh sold 10 million shares of Palmerston. Ian Raleigh resigned as sole Director and officer of Palmerston and Brian Woodland was appointed to serve as the President, Chief Executive Officer and sole Director of Palmerston.

Magnolia Lane Financial, Inc. completed the acquisition of 69.57% of Palmerston Stock Agency, Inc. from Ian Raleigh and Michael Raleigh on May 13, 2013.