Li-Metal Corp.’s Reverse Take Over of Eurotin Inc.

Fasken Martineau DuMoulin LLP advised Li-Metal Corp. on the transaction.

2021, 2555663 Ontario Limited, doing business as Li-Metal completed a reverse takeover of Eurotin Inc.  (TSXV: LIM.H), forming Li-Metal Corp.

After the completion of the RTO, the shares of Li-Metal Corp. were listed on the CSE under the ticker symbol “LIM”.

In connection with the RTO, Li-Metal completed an offering of US$3,000,000 senior secured convertible debentures. Immediately prior to the RTO, each Debenture automatically converted into one common share of Li-Metal Corp. and one warrant to purchase a Resulting Issuer Share. 

Li-Metal also completed a private placement of 7,500,000 subscription receipts for aggregate gross proceeds of US$7,500,000. Upon the completion of the RTO, each Subscription Receipt automatically converted into one Resulting Issuer Share and one Resulting Issuer Warrant.

Li-Metal is a Canadian-based company developing lithium metal anodes and lithium metal production technologies for use in next generation batteries.

Eurotin Inc. is a mineral exploration company with no current activities or operations.

The Fasken team was led by Gesta Abols (Picture) and included John Turner, Elyse Velagic, Caitlin Sabetti, George Soules and Gordon Lee (M&A); Jackie VanDerMeulen (Employment); and Christopher Steeves and Puyang Zhao (Tax).

 

Involved fees earner: Gesta Abols – Fasken Martineau; Caitlin Sabetti – Fasken Martineau; George Soules – Fasken Martineau; Christopher Steeves – Fasken Martineau; John Turner – Fasken Martineau; Jackie VanDerMeulen – Fasken Martineau; Elyse Velagic – Fasken Martineau; Puyang Zhao – Fasken Martineau;

Law Firms: Fasken Martineau;

Clients: Li-Metal Corp. ;

Sonia Carcano

Author: Sonia Carcano