Business
Escudo Capital Completes Qualifying Transaction, Changes Name and Closes Private Placement
(via Thenewswire.ca) Vancouver, British Columbia - May 2, 2013 - Escudo Capital Corporation...
About this update from Aston Bay Holdings Ltd.
[{"type":"text","content":"\nEscudo Capital Completes Qualifying Transaction, Changes Name and Closes Private Placement\n\n(via Thenewswire.ca)\n \n \nVancouver, British Columbia - May 2, 2013 - Escudo Capital Corporation (\"Escudo\" or the \"Company\") is pleased to announce that it has completed its previously announced Qualifying Transaction. Pursuant to the terms of an arrangement agreement (the \"Arrangement Agreement\") dated January 11, 2013, as amended, with Aston Bay Ventures Ltd. (\"Aston Bay\"), each of the issued and outstanding common shares of Aston Bay has been transferred to Escudo in exchange for common shares of Escudo on a one-for-one basis. As a result of the Acquisition, Aston Bay has become a wholly-owned subsidiary of Escudo. \n\n\n \nEscudo also announces that, in connection with its Qualifying Transaction, it has changed its name to \"Aston Bay Holdings Ltd.\"\n\n\n \nThe acquisition of Aston Bay serves as the Company's Qualifying Transaction pursuant to the policies of the TSX Venture Exchange (the \"Exchange\"). At open of market on Monday, May 6, 2013, the Company will be classified as a Tier 2 'Mineral Exploration and Development' company pursuant to the policies of the Exchange, and its common shares will commence trading in the name of \"Aston Bay Holdings Ltd.\" under the symbol \"BAY\".\n\n\n \nIn connection with the Qualifying Transaction, the Company will be changing its auditor to Aston Bay's auditor. The Company accepted the resignation of its auditor, BDO Canada, effective May 1, 2013 and approved the appointment of MSCM LLP as the auditor of the Company effective May 2, 2013. In the opinion of the Company, no \"reportable event\" (as such term is defined in National Instrument 51-102) has occurred. The Company is relying on section 4.11(3)(a) of National Instrument 51-102 for an exemption from the change of auditor requirements of section 4.11 of National Instrument 51-102. \n\n\n \nIn connection with the Qualifying Transaction, Rick Cohen and Joe Groia have resigned as directors of the Company, and John Boddie and Catherine Der have resigned as the Chief Executive Officer & Corporate Secretary and the Chief Financial Officer of the Company, respectively. The Company is pleased to announce that Benjamin Cox, David Drover and Cliff Boychuk have joined John Boddie as directors of the Company, Benjamin Cox has been ...