Business
1317220 B.C.Ltd., 16796788 Canada Ltd. and Britannia Mining Solutions Inc. Announce Execution of Business Combination Agreement for Reverse Takeover and Concurrent Financing
Calgary, Alberta--(Newsfile Corp. - November 7, 2025) - 1317220 B.C. Ltd. ("131"), 16796788 Canada Ltd. ("Subco") and Britannia Mining Solutions Inc. ("Britannia") are pleased to announce that further to the non-binding letter of intent dated January 22, 2025, 131, Subco and Britannia have entered into a definitive business combination agreement dated April 29, 2025 (the "Business Combination Agreement") in connection with a proposed business combination transaction (the "Proposed Transaction").
About this update from Britannia Industries Ltd
[{"type":"text","content":"Calgary, Alberta--(Newsfile Corp. - November 7, 2025) - 1317220 B.C. Ltd. ("131"), 16796788 Canada Ltd. ("Subco") and Britannia Mining Solutions Inc. ("Britannia") are pleased to announce that further to the non-binding letter of intent dated January 22, 2025, 131, Subco and Britannia have entered into a definitive business combination agreement dated April 29, 2025 (the "Business Combination Agreement") in connection with a proposed business combination transaction (the "Proposed Transaction") between 131, Subco and Britannia, which is to occur by way of a three-cornered amalgamation and will result in the reverse takeover of 131 by Britannia and the listing of the resulting entity (the "Resulting Issuer") on the TSX Venture Exchange (the "Exchange"). In connection with the Proposed Transaction, Britannia and Subco will amalgamate pursuant to the provisions of the CBCA and will become a wholly owned subsidiary of the Resulting Issuer ("Amalco"), which will hold all of the assets and continue the business of Britannia and the Resulting Issuer will change its name to "Paragon Advanced Labs Inc." or such other name as may be determined by 131 and Britannia (the "Name Change").","length":1293,"tagName":"p"},{"type":"text","content":"In connection with the Proposed Transaction, 131 and Britannia entered into an agency agreement (the "Agency Agreement"), with Clarus Securities Inc. and Cormark Securities Inc. (collectively, the "Agents"). On April 30, 2025 (the "Closing Date"), and as a condition of the Proposed Transaction, Britannia completed a brokered private placement of 542,921 common shares of Britannia (the "Common Shares") at an issue price of CAD $17.50 per Common Share for aggregate gross proceeds of CAD $9,501,117.50 (the "Concurrent Financing"). Simultaneously with the Concurrent Financing, Britannia received proceeds of $500,010 for securities that will be exercisable for Resulting Issuer Shares upon completion of the Proposed Transaction (together with the Concurrent Financing, the "Offering").","length":849,"tagName":"p"},{"type":"text","content":"Copies of the Business Combination Agreement and Agency Agreement are available for review under 131's profile ...