Metamaterial Technologies Inc. acquires Continental Precious Minerals Inc. in a reverse takeover transaction

On March 5, 2020, Metamaterial Technologies Inc. (“MTI”), a Nova Scotia-based developer of smart materials and photonics, completed a business combination with Continental Precious Minerals Inc. (“CPM”) by way of a three cornered amalgamation (the “Transaction”). Pursuant to the Transaction, MTI became a subsidiary of CPM by amalgamating with Continental Precious Minerals Subco Inc., a wholly-owned subsidiary of CPM, and the securityholders of MTI became securityholders of CPM. Prior to the closing of the Transaction, CPM changed its name from “Continental Precious Minerals Inc.” to “Metamaterial Inc.” and its common shares were delisted from the NEX Board of the TSX Venture Exchange. Metamaterial Inc. (“Metamaterial”) commenced trading on the Canadian Stock Exchange on March 9, 2020 under the symbol “MMAT”. Pursuant to the terms of the Transaction, MTI shareholders at the time of the closing of the Transaction now own approximately 86% of the shares of Metamaterial. Fasken advised CPM with a team lead by John Sabetti and Tracy Hooey and including Markus Liik, Ryan Kleinman and Mitch Thaw.