On May 31, 2017, E3 Metals Corp. (TSXV: ETMC.H) (formerly Savannah Gold Corp.) announced that it had closed its Fundamental Acquisition (as that term is defined in the policies of the TSX Venture Exchange) with 1975293 Alberta Ltd (“AlbertaCo”) whereby all outstanding securities of AlbertaCo were exchanged for securities of E3 Metals.
Pursuant to the acquisition, E3 Metals paid AlbertaCo $150,000 and issued to the securities holders of AlbertaCo (i) a total of 6,000,000 common shares of the Company in exchange for 100% of the outstanding shares of AlbertaCo and (ii) 600,000 share purchase warrants in exchange for 100% of the outstanding share purchase warrants of AlbertaCo.
As a result of the closing of the transaction E3 Metals applied to upgrade its listing to Tier 2 of the TSXV.
Miller Thomson advised E3 Metals Corp. with respect to this transaction with a team that included Rory Godinho and Brian Fast.
