On February 17, 2021, XIB I Capital Corp. ("XIB"), a capital pool company listed on the TSX Venture Exchange, completed its Qualifying Transaction with Mayur Resources Limited ("Mayur"), to acquire Mayur’s copper and gold exploration tenements in Papua New Guinea.
The transaction included three separate private placement financings of subscription receipts for aggregate gross proceeds of approximately C$10.75 million, a consolidation of XIB’s previously issued and outstanding common shares and the change of XIB’s name to “Adyton Resources Corporation”.
Fasken advised XIB with a team led by Sam Li (Securities, M&A) and included Jon Conlin, Michael Stephens and Leo Daniels (Securities, M&A).
Jurisdictions
- British Columbia
- Western Australia
