Omega Commercial Finance Corp. (OTCPK:OCFN) executed a definitive share exchange agreement to acquire 20% stake in Branca Ribeiro Representacoes Ltd for $78.6 million on May 5, 2015. Omega Commercial Finance Corp. will issue 10 million convertible preferred shares at $7.86 per share. The agreement can be terminated by mutual consent of Omega, BRR or managing member; by either Omega, BRR or managing member if there is material breach of covenants, by Omega or managing member by submitting a formal termination notice; or by BRR in the event Omega does not achieve an up listing to NYSE within six months pursuant to the effective date fir $1 consideration and upon return to Omega of its 10 million restricted shares.

Omega Commercial Finance Corp. (OTCPK:OCFN) completed the acquisition of 20% stake in Branca Ribeiro Representacoes Ltd on June 10, 2015.