Banro Corp. fka BAA

[Chelski]

Good or bad ? The Chinese are going to have a say now on the board of directors.

- Under the private placement transaction, Banro issued 50 million common
shares and 2.5 million warrants to RFWB, for total gross proceeds to the
Company of $8,750. These warrants have the same terms as the Warrants
issued under the term loan transaction as set forth above. RFWB holds
approximately 16.6% of the outstanding common shares of Banro following
completion of this private placement. For so long as RFWB holds at least
10% of the outstanding common shares of Banro, RFWB has the right to
nominate one person for election to the Banro board of directors at the
annual shareholders meeting.