On December 22, 2023, NeoTorrex Minerals Inc. (formerly Spitfyre Capital Inc.) – a private Canadian mineral exploration corporation focused on developing rare earth elements and lithium properties in Canada – announced the acquisition of all of the issued and outstanding securities of NeoTerrex Corporation.
The Transaction constituted the Company’s “Qualifying Transaction” (as defined by Policy 2.4 – Capital Pool Companies of the TSXV) and was completed according to the terms of an amalgamation agreement dated October 4, 2023, pursuant to which, among other things, the Company acquired all of the issued and outstanding securities of the Target by way of a three-cornered amalgamation with a wholly-owned subsidiary of the Company under the Canada Business Corporations Act. In connection with the completion of the Transaction, the Company has received final approval from the TSXV. Trading of the common shares of the Company resumed effective at the market open on January 9, 2024, under the symbol “NTX”.
Mr. Dale Burstall, a partner at DS Lawyers had the privilege of acting as legal counsel to NeoTerrex Corporation along with a team composed of Michael Ginevsky-partner, Adil Hirji-lawyer, and Thomas Heine – lawyer.
About NeoTerrex Minerals Inc.
The company is currently advancing its prospective rare earths and lithium projects located in the province of Quebec, with most of its activities focused on its Mount Discovery project. The subsidiary owns a 100-per-cent undivided interest in certain mineral claims located in southwestern Quebec constituting the Mount Discovery project. The property was acquired due to its rare earth elements potential.