XIB I Capital Corp.’s Qualifying Transaction with Mayur Resources Ltd.

Fasken acted for XIB on the transaction.

On February 17, 2021, XIB I Capital Corp., a capital pool company listed on the TSX Venture Exchange, completed its Qualifying Transaction with Mayur Resources Limited, 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”.

The Fasken team comprised of Sam Li (Picture, Securities, M&A), Jon Conlin, Michael Stephens and Leo Daniels (Securities, M&A). 

Involved fees earner: Jon Conlin – Fasken Martineau; Leo Daniels – Fasken Martineau; Samuel Li – Fasken Martineau; Mike Stephens – Fasken Martineau;

Law Firms: Fasken Martineau;

Clients: XIB I Capital Corp.;

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Author: Martina Bellini