Looks to me like this financing partner might have an inside scoop on whats to come and possibly has some future business prospects in store for ELRA!!!!!!!NEW YORK, Aug 08, 2014 (GLOBE NEWSWIRE via COMTEX) -- Elray Resources Inc. (OTCBB:ELRA) announced today that it has Entered into a Definitive Stock Purchase Agreement.
Elray Resources Inc., has completed the sale of 10,000,000 shares of common stock at a price of 3 cents per share. The Share Purchase Agreement has been concluded with a Strategic Asian Partner, Longma Holdings Limited. Longma is a Hong Kong Company.
As a result of the closing of this transaction, $300,000.00 in cash will be paid to Elray.
The parties to the Transaction have agreed to work together in developing Elray's Technology and Gaming business in Asia.