Business
Paragon Advanced Labs Inc. Completes Go-Public Transaction
Toronto, Ontario--(Newsfile Corp. - December 9, 2025) - Paragon Advanced Labs Inc. (the "Corporation") is pleased to announce the closing of the previously announced reverse takeover transaction (the "Transaction") of 1317220 B.C. Ltd. ("131 BC") by Britannia Mining Solutions Inc. ("Britannia").The Transaction was completed by way of a three-cornered amalgamation of 131 BC and a newly-incorporated subsidiary of 131 BC ("Subco"), now a wholly-owned subsidiary of the Corporation. The shares of the
About this update from Britannia Industries Ltd
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - December 9, 2025) - Paragon Advanced Labs Inc. (the "Corporation") is pleased to announce the closing of the previously announced reverse takeover transaction (the "Transaction") of 1317220 B.C. Ltd. ("131 BC") by Britannia Mining Solutions Inc. ("Britannia").","length":336,"tagName":"p"},{"type":"text","content":"The Transaction was completed by way of a three-cornered amalgamation of 131 BC and a newly-incorporated subsidiary of 131 BC ("Subco"), now a wholly-owned subsidiary of the Corporation. The shares of the Corporation (the "Resulting Issuer Shares") are expected to commence trading on the TSX Venture Exchange (the "Exchange") on or about December 11, 2025 under the symbol "PALS". References to the Resulting Issuer Shares shall be the shares of the Corporation after giving effect to the Consolidation and Name Change (as outlined below).","length":580,"tagName":"p"},{"type":"text","content":"Transaction Particulars","length":23,"tagName":"p"},{"type":"text","content":"On December 9, 2025, 131 BC and Britannia completed the Transaction contemplated under the business combination agreement among 131 BC, Britannia and Subco dated April 29, 2025 (the "Business Combination Agreement") resulting in the launch of the Corporation.","length":269,"tagName":"p"},{"type":"text","content":"Pursuant to the terms of the Business Combination Agreement, in connection with the Transaction, among other things:","length":116,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"the common shares of 131 BC (the "131 Shares") outstanding immediately prior to the effective time of the Transaction were consolidated (the "Consolidation") at a ratio of 6.7812 pre-Consolidation 131 Shares for one post-Consolidation Resulting Issuer Share;","length":278,"tagName":"p"}]},{"val":[{"type":"text","content":"the Corporation changed its name to "Paragon Advanced Labs Inc." (the "Name Change") and reconstituted its board of directors and management as described below; and","length":184,"tagName":"p"}]},{"val":[{"type":"text","content":"the shareholders of Britannia received the Resulting Issuer Shares at an exchange ratio of one common share of Britannia for ten Resulting Is...