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NOA Lithium Brines Inc. (Formerly Navion Capital Inc.) Completes Reverse Take-Over Transaction and Resumption of Trading
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES...
About this update from Noa Lithium Brines Inc
[{"type":"text","content":"NOA Lithium Brines Inc. (Formerly Navion Capital Inc.) Completes Reverse Take-Over Transaction and Resumption of TradingNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESCALGARY, AB / ACCESSWIRE / March 1, 2023 / NOA Lithium Brines Inc. (TSXV:NOAL) (the \"Company\"), a mineral exploration company focused on lithium exploration and listed on the TSX Venture Exchange (the \"Exchange\"), is pleased to announce that it has completed its previously announced ‎reverse take-over transaction (the \"Transaction\") consisting of the acquisition of all of the issued and outstanding shares of NOA Lithium Brines S.A. (\"NOA\"), details of which are set forth in the Company's press releases dated June 16, 2022, August 12, 2022, October 3, 2022, January 10, 2023, January 25, 2023 and February 17, 2023 and the Company's filing statement dated February 21, 2023 (\"Filing Statement\") that was previously filed with the Exchange, all of which are available ‎under the Company's SEDAR profile at www.sedar.com.In accordance with the policies of the Exchange, the Company's common shares have been reinstated and are expected to resume trading on the Exchange as a Tier 2 mining issuer under the stock symbol \"NOAL\" on or about March 3, 2023.Under the terms of the Transaction, the following was completed:The Company amended its articles to change its name from Navion Capital Inc. to NOA Lithium Brines Inc.The Company completed a non-brokered private placement of 500,000 subscription receipt units at a price of $0.30 per subscription receipt unit for gross proceeds of $150,000 (\"Navion Subscription Receipt Financing\"). Each subscription receipt unit consisted of one common share and one warrant. Each warrant is exercisable to acquire one common share at an exercise price of $0.50 per common share for a period of 30 months from the date of issuance. No finder's fees were paid in connection with this Navion Subscription Receipt Financing. All of the securities issued under the Navion Subscription Receipt Financing are subject to a four month hold period.The Company completed a non-brokered private placement in two tranches totalling 18,295,867 subscription receipt units at a price of $0.30 per subscription receipt unit for gross proceeds of $5,488,760 (\"Navion Listing Subscription Receipt Fina...