Business
Britannia Mining Solutions and 1317220 B.C. Ltd. Announce Go-Public Transaction and Receipt of Conditional Approval of TSX Venture Exchange
Toronto, Ontario--(Newsfile Corp. - December 2, 2025) - 1317220 B.C. Ltd. ("131 BC") and Britannia Mining Solutions Inc. (the "Company" or "Britannia"), are pleased to announce that, Britannia, 131 BC and 16796788 Canada Ltd., a wholly owned subsidiary of 131 BC ("Subco"), entered into a business combination agreement dated April 29, 2025 (the "Agreement") in connection with a proposed business combination transaction that will, among other things, result in the "reverse takeover" of 131 BC by..
About this update from Britannia Industries Ltd
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - December 2, 2025) - 1317220 B.C. Ltd. ("131 BC") and Britannia Mining Solutions Inc. (the "Company" or "Britannia"), are pleased to announce that, Britannia, 131 BC and 16796788 Canada Ltd., a wholly owned subsidiary of 131 BC ("Subco"), entered into a business combination agreement dated April 29, 2025 (the "Agreement") in connection with a proposed business combination transaction that will, among other things, result in the "reverse takeover" of 131 BC by Britannia (the "Proposed Transaction"). In this news release, references to "Resulting Issuer" are to 131 BC after the closing of the Proposed Transaction. Upon the completion of the Proposed Transaction, the common shares of the Resulting Issuer (the "Resulting Issuer Shares") plan to be listed on the TSX Venture Exchange ("TSXV"). The Proposed Transaction, including the listing of the Resulting Issuer Shares, remains subject to the final regulatory approval of TSXV and the satisfaction or waiver of various conditions that are customary for a transaction of this nature.","length":1176,"tagName":"p"},{"type":"text","content":"Subject to satisfaction or waiver of the conditions precedent referred to herein and, in the Agreement, Britannia and 131 BC anticipate that the Proposed Transaction will be completed in December 2025. There is no assurance that the Proposed Transaction will be completed on the terms proposed herein or at all.","length":311,"tagName":"p"},{"type":"text","content":"Britannia and 131 BC are arm's length parties to each other and, accordingly, the Proposed Transaction is not a related party transaction within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions.","length":261,"tagName":"p"},{"type":"text","content":"The Proposed Transaction","length":24,"tagName":"p"},{"type":"text","content":"The Proposed Transaction will result in 131 BC acquiring all of the issued and outstanding shares of Britannia ("Britannia Shares") in exchange for the issuance of shares of 131 BC ("131 Shares") by way of a "three-cornered" amalgamation under the Canada Business Corporations Act involving Britannia, 131 BC and Subco. The entity resulting fro...