Nuvau Minerals Inc. Completes Qualifying Transaction
Thursday, Dec 12, 2024 9:36 pm ET
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Nuvau Minerals Inc. (formerly Aardvark 2 Capital Corp.) has successfully completed its qualifying transaction under Policy 2.4 of the TSX Venture Exchange, marking a significant milestone in its corporate development. The transaction, a reverse takeover of the Company by Nuvau Minerals Corp., positions Nuvau for growth in the mineral exploration and development sector.
The qualifying transaction was executed through a three-cornered amalgamation under the Business Corporations Act (Ontario), with Nuvau acquiring all issued and outstanding securities of Nuvau Minerals Corp. In exchange, former shareholders of Nuvau received one post-consolidation common share for each Nuvau share held. The Company, now operating as the Resulting Issuer, will focus on the mineral exploration and development of the Matagami mining property in the Abitibi region of central Québec, Canada.
In connection with the transaction, Nuvau issued an aggregate of 47,985,419 post-consolidation common shares, resulting in a diluted share count of 48,985,419. Prior to the closing, the Company effected a consolidation of its outstanding common shares on a 7.2-for-1 basis and changed its corporate name to Nuvau Minerals Inc.
The directors and officers of the Resulting Issuer following the completion of the transaction are Peter van Alphen (President, CEO, and Director), Steve Filipovic (CFO and Corporate Secretary), Christina McCarthy (Chair of the Board and Director), Ewan Downie (Director), Michael Vitton (Director), Fariah Mir (Director), and Steven Bowles (Director).
In addition to the qualifying transaction, Nuvau closed a private placement of subscription receipts, raising C$9,186,777.90 through the issuance of 10,207,531 subscription receipts at C$0.90 per receipt. The proceeds will be used to fund exploration and development activities at the Matagami property.
The completion of the qualifying transaction is a testament to Nuvau's commitment to growth and development in the mineral exploration and development sector. With a strong management team and a promising mineral property, Nuvau is well-positioned to create value for shareholders and contribute to the advancement of the mining industry in Canada.
