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Dundarave Resources (TSXV:DDX) has entered into a definitive agreement with Perfect Lithium Corp that sets out terms for a proposed business combination of the two companies. A completed transaction will result in a reverse take-over of Dundarave by Perfect Lithium, and the resulting company will be called “Nano One Materials Corp.”
Dundarave Resources (TSXV:DDX) has entered into a definitive agreement with Perfect Lithium Corp that sets out terms for a proposed business combination of the two companies. A completed transaction will result in a reverse take-over of Dundarave by Perfect Lithium, and the resulting company will be called “Nano One Materials Corp.”
As quoted in the press release:
Pursuant to the Transaction, Dundarave, through its wholly-owned subsidiary, 1019491 B.C. Ltd., will acquire 100% of the issued and outstanding shares of PLC in exchange for 0.8 of a Post Consolidation Share (as defined below) (the “Exchange Ratio”) for each outstanding share of PLC.
All outstanding warrants of PLC will be exchanged for Dundarave warrants to purchase Post Consolidation Shares with appropriate adjustments to the number and price of shares that may be acquired upon exercise thereof to reflect the Exchange Ratio. All stock options of Dundarave and PLC issued prior to the Agreement will be cancelled upon closing of the Transaction. The Resulting Issuer will grant 2,825,000 options to the new management and consultants of the Resulting Issuer upon completion of the Transaction.
Click here to read the Dundarave Resources (TSXV:DDX) press release
