Business
Chrysalis Capital VII Corporation provides further details on the acquisition of Alexander Nubia Inc.
Chrysalis Capital VII Corporation provides further details on the acquisition of Alexander Nubia ...
About this update from Aton Resources Inc.
[{"type":"text","content":"\n\n\n\n May 3, 2010 (Canada NewsWire Group) -- TSX Venture Exchange Symbol: SEV.P\n\n Chrysalis Capital VII Corporation (the "Corporation") is pleased to provide further details on the proposed qualifying transaction (the "Proposed Transaction") with Alexander Nubia Inc. ("ANI"), previously announced on March 10, 2010.\n\nBACKGROUND\n\nOn March 9, 2010, the Corporation entered into an acquisition agreement (the "Acquisition Agreement") with ANI pursuant to which the Corporation has agreed to acquire all of the issued and outstanding ANI common shares (the "ANI Common Shares") by way of a "three-cornered amalgamation" (the "Amalgamation") pursuant to the Business Corporations Act (British Columbia) (the "BC Act"). Pursuant to the Acquisition Agreement, a wholly-owned subsidiary of the Corporation incorporated under the BC Act (the "Chrysalis Sub") will amalgamate with ANI, whereby ANI and the Chrysalis Sub will form a new amalgamated corporation and the separate existence of ANI and the Chrysalis Sub will cease. The surviving amalgamated corporation will be a wholly-owned subsidiary of the Corporation.\nThe Proposed Transaction will constitute a reverse take-over by ANI of the Corporation inasmuch as the former shareholders of ANI will own, assuming completion of the Maximum Private Placement (as defined below) up to 95.63% of the outstanding common shares in the capital of the Corporation (the "Common Shares") and all of the members of the board of directors will be designees of ANI.\nTo the knowledge of the directors and executive officers of the Corporation, the only persons who currently beneficially own, directly or indirectly, or exercise control or direction over more than 10% of the ANI Common Shares are set forth below:\n\n\n >\n\n\nUpon completion, the Proposed Transaction will constitute the Corporation's "qualifying transaction" pursuant to the policies of the TSX Venture Exchange (the "TSXV").\n\nANI PRIVATE PLACEMENT\n\nAs previously announced, ANI intends to complete a private placement (the "Private Placement") of up to a maximum of US$15,000,000 (the "Maximum Private Placement"). The completion of a minimum of US$6,000,000 is a condition to the completion of the Proposed Tra...