Business
Alexander Nubia Inc. Completes Qualifying Transaction with Chrysalis Capital VII Corporation
Alexander Nubia Inc. Completes Qualifying Transaction with Chrysalis Capital VII Corporation
About this update from Aton Resources Inc.
[{"type":"text","content":"\nAlexander Nubia Inc. Completes Qualifying Transaction with Chrysalis Capital VII Corporation\n\n\n Oct. 1, 2010 (Filing Services Canada) -- Chrysalis Capital VII Corporation (SEV.P - TSX Venture), (the \"Corporation\") is pleased to announce, further to its News Releases of June 3, 2010, August 10, 2010 and September 30, 2010, that it has completed its previously announced qualifying transaction (the \"Qualifying Transaction\") with Alexander Nubia Inc. (\"AAN\") by way of a \"three-cornered\" amalgamation in which 0881679 B.C. Ltd., a wholly-owned subsidiary of the Corporation, amalgamated with AAN (the \"Amalgamation\").  As a result, AAN is now a wholly-owned subsidiary of the Corporation. Further details on the Qualifying Transaction are available on SEDAR under the Corporation's profile. Final acceptance of the Qualifying Transaction will occur upon the issuance of the Final Exchange Bulletin (the \"Bulletin\") by the TSX Venture Exchange (the \"TSX-V\").  Further to the news release of the Corporation yesterday, all conditions of escrow in respect of the Private Placement have now be met.   The Corporation is no longer considered a Capital Pool Company and trading of the common shares is scheduled to resume on the TSX-V at the opening of markets on Tuesday, October 5, 2010 under the name \"Alexander Nubia International Inc.\" and trading symbol \"AAN\".Upon the Amalgamation, the Corporation issued 1.6666667 common shares for each one (1) common share of AAN issued and outstanding immediately prior to the Amalgamation.  AAN's previously issued common share purchase warrants were also exchanged on the same exchange ratio into common share purchase warrants of the Corporation. The Corporation also granted 6,636,383 options to purchase common shares at $0.15 per share. Pursuant to the terms of an escrow agreement (the \"Escrow Agreement\") dated September 30, 2010 among the Corporation, Olympia Transfer Services Inc. and certain escrowed securityholders, an aggregate of 18,956,664 Common Shares have been placed in escrow, whereby 25% of such shares will be released immediately upon the issuance of the Bulletin evidencing final acceptance of the Qualifying Transaction and the balance of such shares will be released in equal tranches of 25% every six months thereafter. In addition, an ag...