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Ramp Metals Inc. Announces Closing of Qualifying Transaction and Anticipated Trading Date Under the Symbol "RAMP"
Winnipeg, Manitoba--(Newsfile Corp. - March 20, 2024) - Ramp Metals Inc. (TSXV: AAC.P) (formerly ...
About this update from Ramp Metals Inc
[{"type":"text","content":"Ramp Metals Inc. Announces Closing of Qualifying Transaction and Anticipated Trading Date Under the Symbol \"RAMP\"Winnipeg, Manitoba--(Newsfile Corp. - March 20, 2024) - Ramp Metals Inc. (TSXV: AAC.P) (formerly Anacott Acquisition Corporation) (the \"Company\") is pleased to announce that it has closed its previously announced reverse-takeover transaction (the \"Transaction\") pursuant to a merger agreement (the \"Merger Agreement\") dated effective July 28, 2023, between the Company (formerly Anacott Acquisition Corporation), Ramp Metals Inc. (\"Ramp\") and 1429494 B.C. Ltd., a wholly-owned subsidiary of the Company (together, the \"Parties\"). The Transaction Effective March 19, 2024, as a condition to the completion of the Transaction, the Company consolidated its common shares (\"Common Shares\") on the basis of 1.7603584 pre-consolidation Common Shares for one post-consolidation Common Share (the \"Consolidation\"). Immediately following the Consolidation, the Company had an aggregate of 2,500,000 Common Shares issued and outstanding.Pursuant to the terms of the Transaction, Ramp amalgamated with 1429494 B.C. Ltd. by way of a three cornered amalgamation pursuant to the Merger Agreement, a copy of which is available under the Company's profile on SEDAR+ at www.sedarplus.ca, and all outstanding shares of Ramp (\"Ramp Shares\") were exchanged for post-Consolidation Common Shares on the basis of one Common Share for each one Ramp Share, resulting in 29,886,305 Common Shares being issued at a deemed price of $0.20 per Common Share to former shareholders of Ramp. Further details regarding the Transaction can be found in the filing statement of the Company dated March 6, 2024 (the \"Filing Statement\"), a copy of which is available under the Company's profile on SEDAR+ at www.sedarplus.ca.The Parties to the Transaction have made their final submission to the TSX Venture Exchange (the \"Exchange\") pursuant to Exchange Policy 2.4 to seek final Exchange acceptance of the Transaction.Following the completion of the Transaction, the Company changed its name to \"Ramp Metals Inc.\" It is anticipated that the Common Shares will resume trading on the Exchange under the trading symbol \"RAMP\" on or about March 22, 2024.Escrowed SharesOn completion of the Transaction, certain Principals (as defined in the policies of the Exchange) of the...