Company to Acquire Libra Energy Materials

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ACQUISITION,ENERGY TRANSITION,MINERAL EXPLORATION

A Company has announced the acquisition of Libra Energy Materials Inc. in a three-cornered amalgamation. The transaction will see the Company consolidate its shares and change its name to Libra Energy Materials Inc.

Thursday, January 2, 2025 3:00 AM PST, a Company, is pleased to announce that further to its press release dated December 2, 2024, it has executed a definitive agreement dated December 31, 2024, whereby the Company will acquire all of the issued and outstanding shares of Libra pursuant to a three-cornered amalgamation in accordance with applicable law.

As part of the Transaction and pursuant to the terms of the Definitive Agreement, the Company will complete a consolidation of its issued and outstanding common shares for every 2.4966 outstanding common shares in the capital of the Company. Following completion of the Consolidation and as part of the Transaction, each of the shareholders of Libra will receive X common shares of the Company. On completion of the Transaction, the Company will change its name to Libra Energy Materials Inc. or such other similar name as the parties may agree to and the Company anticipates applying for and changing its trading symbol on the CSE to LIBR. Concurrently with the Transaction, the Company also proposes to make certain amendments to its articles to allow for the Company's board of directors to implement certain structural changes to its capitalization structure in the future, which are permissible in accordance with applicable law. Following completion of the Transaction, the Company will be carrying on the business of Libra, a Canadian mineral exploration company focused on the discovery and development of the critical minerals necessary for the green energy transition

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