Business
Rider 2 Investment Capital Corp. Announces Completion of Qualifying Transaction and Name Change to Metal Energy Corp.
(TheNewswire) Toronto, Ontario - TheNewswire - November 22, 2021 - Rider 2 ...
About this update from Metal Energy Corp
[{"type":"text","content":"Rider 2 Investment Capital Corp. Announces Completion of Qualifying Transaction and Name Change to Metal Energy Corp.\n \n \n (TheNewswire)\n \n \n \n Toronto, Ontario -\n \n \n TheNewswire\n \n \n - November 22, 2021\n \n - Rider 2\nInvestment Capital Corp. (\"the \"\n \n Company\n \n \") (TSXV:RIDR.P) is\npleased to announce that it has changed its name to \"Metal Energy\nCorp.\" (\"\n \n Metal\nEnergy\n \n \") as well as its ticket symbol to “MERG” on the\nTSX Venture Exchange. The Company also continued under the\n \n Business Corporations Act\n \n (Ontario), and has completed its previously announced qualifying\ntransaction (the \"\n \n Transaction\n \n \") with D Block Discoveries Inc. (“\n \n D Block\n \n ”), an arm's length party\nto the Company.\n \n \n Pursuant to the Transaction, the Company: (a) acquired all of the\n‎securities of D Block in exchange for securities of the Company\npursuant to the terms of the amalgamation agreement dated October 12,\n2021 (the ‎‎“\n \n Amalgamation\nAgreement\n \n ”); (b) effected an amalgamation between a wholly\nowned ‎subsidiary of the Company (“Subco”) and ‎ D Block, with\nD Block being the surviving entity, on ‎the terms and ‎conditions\nset forth in the Amalgamation Agreement, whereby the holders of the\n‎securities ‎of D Block received securities of the Company on a\none-for-one basis (a total of 57,800,000 Common Shares were issued in\nexchange for the D Block Shares at a deemed price of $0.20 per Common\nShare)‎; (c) reorganized the ‎management and the Board of\nDirectors of the Company; and (d) approved and registered a name\n‎change of the Company to Metal Energy Corp.\n \n \n Upon listing, the Company was obligated to issue 500,000 Common Shares\nto the optionee on the Manibridge property ‎and these Common Shares\nhave now been issued.  The 500,000 Common Shares issued have a four\nmonth resale restriction.\n \n \n The Company now has a total of 79,033,832 Common Shares outstanding.\n \n \n Final acceptance of the Transaction will occur upon the issuance of\nthe Final Exchange Bulletin (the \"\n \n Exchange Bulletin\n \n \") by the TSX Venture Exchange (the\n\"\n \n TSXV\n \n \"). Subject to\nfinal approval by the TSXV, Me...