New York-Based Family Office Acquires Stake in Interfox Resources and offers financing to Fame Dragon

Esousa Holdings LLC (“Esousa”), a New York-based family office, has on October 19, 2016, acquired 1,600,000 IFOX shares from FEPI via a private sale. This is the result of several months' discussions about a co-operation, relative to IFOX’ intended sale of its sole asset. Esousa had expressed a desire to build a position in IFOX in advance of the asset sale. The binding contract for the transaction between Esousa and FEPI was entered into already on September 26, 2016, but certain technicalities related to the fact that this was a private sale of European stock to a US entity delayed the execution to October 19, 2016.

Esousa intends to play an important role for the financing of the potential sale of Mezhlisa Resources Cyprus Ltd, IFOX' wholly-owned subsidiary, to Fame Dragon (see press release July 4, 2016), and FEPI is working closely together with Esousa for this purpose. Esousa has already today submitted a firm offer to Fame Dragon for financing, earmarked specifically for the planned transaction with IFOX.

The work towards a binding agreement between IFOX and Fame Dragon had to be delayed until the above mentioned offer of financing was submitted to Fame Dragon. With the offer now at hand, IFOX and Fame Dragon have meetings scheduled for this week in Hong Kong and Shenzhen. The exclusivity given to Fame Dragon (see Press Release October 20, 2016) has been extended to November 1, 2016.

Based in New York, Esousa is a family office that has investments in large-cap publicly traded companies, real estate development and emerging growth companies. Esousa has a close co-operation with Crede Capital Group, which has offices also in Beijing. The above mentioned financing of Fame Dragon is a joint effort between Esousa and Crede. Esousa has previously invested in several Chinese companies, including Alibaba.

The Board Members of IFOX are very positive to having Esousa as a substantial shareholder in the Company. 

"IFOX Chairman Max Renard comments: We are pleased that the transaction has taken place, in the anticipation that it will lead to Esousa and Crede becoming large investors in Fame Dragon and playing an important role in the sale of IFOX’ wholly-owned subsidiary, which have been negotiated with both Esousa and Crede since April this year. The fact that a Western entity is willing to finance this acquisition has brought a lot of credibility to the table in the negotiations with Fame Dragon and this eventually became a pre-condition to the closing of the sale of Mezhlisa.”

Esousa’s 1,600,000 shares correspond to 2.7% of the total shares in the Company. FEPI, after the transaction, holds 13,741,241 shares, corresponding to 23.3% of the total shares of the Company.  FEPI has committed to Esousa not to dispose of any further shares for 3 months, other than if needed for the execution of the contemplated transaction with Fame Dragon.

For further information, please contact:

Thomas Häggkvist, responsible for financial reporting and investor relations.

Email: thomas@interfox.com and telephone +46 70 552 26 22

Facts about Interfox Resources AB (publ)

Interfox Resources is a Swedish exploration company with focus on exploration for oil and gas in Russia. In Russia, the company controls one combined exploration and production license in the Tomsk region of Western Siberia, the Elley-Igayskoye. The company has initiated a work program with the purpose of converting resources to reserves.

The Interfox Resources share is traded at Aktietorget under the short name IFOX.

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