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Infield Minerals Announces Completion of Qualifying Transaction
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES ...
About this update from Infield Minerals Corp
[{"type":"text","content":"Infield Minerals Announces Completion of Qualifying TransactionNOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICESVANCOUVER, BC / ACCESSWIRE / June 7, 2021 / Infield Minerals Corp. (“Infield” or the “Company”) is pleased to announce the completion of the previously announced qualifying transaction (the “Transaction”) of ECC Ventures 2 Corp. (“ECC2”) (TSXV:ETWO.P) pursuant to Policy 2.4 – Capital Pool Companies of the TSX Venture Exchange (the “Exchange”). ECC2 today completed a consolidation of its issued and outstanding common shares on the basis of 1 post-consolidation common share (the “Shares”) for each 2.25 pre-consolidation common shares and changed its name to “Infield Minerals Corp.”. Pursuant to the terms of the amalgamation between ECC2, its wholly owned subsidiary, 1276678 B.C. Ltd. (“Subco”), and Infield Minerals Corp. (“Infield Privco”), the Company has acquired 100% of the issued and outstanding common shares of Infield Privco through Subco in consideration for the issuance of an aggregate of 35,606,477 Shares to former shareholders of Infield Privco. Effective at the opening of the market on Thursday, June 10, 2021, the Shares will commence trading on the Exchange under the symbol “INFD”. The Company's new CUSIP number is 4567H102 and ISIN is CA45674H1029. For further information on the Transaction, please see the Company's Filing Statement dated May 14, 2021, which is available on SEDAR.Infield Private PlacementOn completion of the Transaction, the previously issued 9,552,500 Subscription Receipts of Infield Privco, which were issued at a price of $0.40 for each Subscription Receipt pursuant to private placement financings completed on February 26, 2021 and April 14, 2021 (the “QT Financings”), each converted into one unit of the Company for no additional consideration. Each unit consists of one Share and one share purchase warrant, with each share purchase warrant entitling the holder to acquire one additional Share at a price of $0.60 per share until June 4, 2023. In connection with the QT Financings, the Company paid fees of $231,770 and issued 535...