Business
Chicane Capital I Corp. and Elton Resources Corp. Enter Into Definitive Merger Agreement with Respect to Qualifying Transaction and Brokered Private Placement of Subscription Receipts
Not for distribution to United States newswire services or for dissemination in the United States. VANCOUVER, British Columbia, May 27, 2026 (GLOBE NEWSWIRE) -- Chicane Capital I Corp. (TSXV: CCIC.P) (“Chicane”), a “capital pool company” listed on the TSX Venture Exchange (the “Exchange”), and Elton Resources Corp. (“Elton”), a corporation incorporated under the laws of the Province of British Columbia, are pleased to announce that further to Chicane’s press release dated April 16, 2026, Chicane
About this update from Chicane Capital I Corp
[{"type":"text","content":"Not for distribution to United States newswire services or for dissemination in the United States.","length":99,"tagName":"p"},{"type":"text","content":"VANCOUVER, British Columbia, May 27, 2026 (GLOBE NEWSWIRE) -- Chicane Capital I Corp. (TSXV: CCIC.P) (“Chicane”), a “capital pool company” listed on the TSX Venture Exchange (the “Exchange”), and Elton Resources Corp. (“Elton”), a corporation incorporated under the laws of the Province of British Columbia, are pleased to announce that further to Chicane’s press release dated April 16, 2026, Chicane, Elton and 1589751 B.C. Ltd. (“AcquisitionCo”), a wholly owned subsidiary of Chicane, have entered into a binding merger agreement dated May 26, 2026 (the “Merger Agreement”) in respect of an arm’s length reverse-takeover transaction of Chicane by Elton (the “Proposed Transaction”), which will constitute Chicane’s Qualifying Transaction (as such term is defined in Policy 2.4 – Capital Pool Companies (“Policy 2.4”) of the Exchange). Upon completion of the Proposed Transaction, the resulting issuer (the “Resulting Issuer”) will carry on the business of Elton, and is expected to list as a tier 2 mining issuer on the Exchange (the “Exchange Listing”).","length":1057,"tagName":"p"},{"type":"text","content":"The completion of the Proposed Transaction is subject to the satisfaction of various conditions that are customary for a transaction of this nature, including but not limited to: (i) the completion of the Private Placement (as defined below) for aggregate gross proceeds of a minimum of $10,000,000 and a maximum of $15,000,000 or such other amounts as are acceptable to Elton, Chicane and the Agents (as defined below); (ii) the approval by the directors of Chicane and Elton of the Proposed Transaction and the matters related thereto; (iii) the approval by the shareholders of Chicane, if and as applicable, of the Consolidation (as defined below), the Continuance (as defined below), the reconstitution of the board of directors of the Resulting Issuer, the adoption of a new equity incentive plan by the Resulting Issuer and such other matters as may reasonably be requested by Elton; and (iv) the receipt of all requisite regulatory, stock exchange or governmental authorizations and consents, including the Exchange.","length":1023,"tagName":"p"},{"type":"text","content":"Subject to satisfaction...