AcquisitionsMay 11, 2026, 06:02 AM
Minerva Gold Inc. to Acquire Taizhou Sentian; Control Changes
AI Summary
Minerva Gold Inc. announced a significant change in control, with Zhang Chengcheng acquiring 76.10% of the company's common stock and being appointed as the sole officer and director. Concurrently, the company entered into a Letter of Intent to acquire Taizhou Sentian Sanitary Ware Co., Ltd., a company owned by Mr. Zhang, signaling a major strategic shift from mineral exploration to manufacturing sanitary ware. The definitive agreement for this acquisition is expected by May 31, 2026. Historically, for the year ended February 28, 2026, Minerva Gold reported revenue of $33,500 and a net loss of $9,389, with a going concern warning due to accumulated losses.
Key Highlights
- Zhang Chengcheng acquired 76.10% of Minerva Gold's common stock for $264,600 on April 10, 2025.
- Zhang Chengcheng was appointed Sole Director, President, CEO, Treasurer, and Secretary on April 10, 2026.
- Minerva Gold entered a Letter of Intent on April 10, 2026, to acquire Taizhou Sentian Sanitary Ware Co., Ltd.
- The definitive acquisition agreement is expected to be completed by May 31, 2026.
- Taizhou Sentian, owned by Zhang Chengcheng, manufactures sanitary ware and employs approximately 100 staff.
- Revenue for the year ended February 28, 2026, was $33,500, up from $26,000 in 2025.
- Net loss for the year ended February 28, 2026, was $9,389, compared to $7,123 in 2025.
- Stockholders' deficit was $50,164 as of February 28, 2026.