Delrand Resources Limited (TSXV:DRN.H) entered into a share exchange agreement to acquire Kuuhubb Oy from Joki Capital Ou for CAD 7.4 million on January 19, 2017. As a part of consideration, Delrand will issue 9.8 million shares. Further, Delrand will be required to issue up to 2.7 million common share purchase warrants to certain service providers and lenders of KuuHubb and issue pursuant to Delrand’s stock option plan up to 2.7 million stock options to current directors, officers and consultants of KuuHubb. Upon completion of the transaction, Joki Capital Ou will own approximately 37.2% of the issued and outstanding Delrand shares. Delrand intends to change its name to KuuHubb Inc. concurrently with the completion of the transaction. Post transaction, Jouni Keranen, President of KuuHubb will be appointed as President, Chief Executive Officer and Director, Christian Kolster, Vice-President of KuuHubb will be appointed Executive Vice-President and Director and John Lee, will be appointed as Director of Delrand Resources Limited. Upon the completion of the transaction, it is planned that the board will consist of Jouni Keranen, Christian Kolster and John Lee and Arnold Kondrat, Maurice Colson, Philip Chen and Geoffrey Farr Farr will also continue to act as Corporate Secretary. Delrand Resources intends to appoint a Chief Financial Officer shortly. Completion of the transaction is conditional upon, among other things, the completion of a private placement of subscription receipts of Delrand for gross proceeds of up to CAD 8 million. Closing of the transaction and the offering is subject to certain conditions including, the receipt of Delrand’s shareholder and regulatory approvals including the approval of the exchange, execution of exchange escrow agreement. The securities issued pursuant to the transaction and the offering may be subject to a regulatory four month hold period and will be subject to the escrow requirements of the exchange. As of June 15, 2017 all condition fulfilled including shareholder's approval and private placement. Chris Irwin of Irwin Lowy LLP acted as legal advisor for Delrand.