OR THROUGH US NEWSWIRE SERVICES
VANCOUVER, British Columbia, Feb. 18, 2021 (GLOBE NEWSWIRE) — Adyton Resources Corporation (the “Company” or “Adyton”) (TSX Venture: ADY), formerly XIB I Capital Corp., is pleased to announce it has completed its previously announced transaction with Mayur Resources Limited (“Mayur”) to acquire Mayur’s copper-gold exploration tenements in Papua New Guinea (the “Transaction”). Under the Transaction, the Company:
consolidated its 13,100,000 previously issued and outstanding common shares (“Common Shares”) on a 2.62-for-1 basis into 5,000,000 Common Shares issued and outstanding (the “Consolidation”) and changed its name to “Adyton Resources Corporation”;
acquired all of the shares of Mayur’s former subsidiary, MR Exploration PNG Pte Ltd. (“MRE”) from Mayur and its other shareholders in exchange for 71,666,666 post-Consolidation Common Shares, after MRE first acquired all of the shares of Ballygowan Limited (“Ballygowan”) and Pacific Arc Aurum (Niugini) Limited (“Pacific Arc”) from their shareholders in return for shares of MRE;