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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 (“Ball