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 (“Ball
XIB I Capital Corp.: XIB And Mayur Resources Announce Closing of Concurrent Financing of Subscription Receipts
XIB ) is pleased to announce that Adyton Resources Finance Company Ltd. (
Adyton Financeco ) has closed its previously announced brokered private placement financing (the
Concurrent Financing ). Under the Concurrent Financing, Adyton Financeco issued and sold 28,758,886 subscription receipts (the
Subscription Receipts ) for aggregate gross proceeds of $8,627,665.80. A syndicate led by Eight Capital and including Cormark Securities Inc., PI Financial Corp. and Jett Capital Advisors, LLC (collectively, the
Agents ) acted as agents for the Concurrent Financing.
The gross proceeds from the Concurrent Financing (less an amount equal to 50.0% of the Agents Commission (as defined below) and less the costs and expenses of the Agents in connection with the Concurrent Financing up to the closing time) (the