Tribeca Resources Ltd. completed the acquisition of Hansa Resources Limited in a reverse merger transaction.
Closing of the transaction is subject to a number of conditions including, but not limited to: execution of the Definitive Agreement, receipt of requisite shareholder approvals of Tribeca Resources and Hansa, as necessary, entering into all escrow arrangements required by the TSXV, receipt of all requisite regulatory approvals relating to the transaction, completion of mutually satisfactory due diligence reviews, completion of the Tribeca Resources Financing, completion of an internal corporate reorganization by Tribeca Resources, Tribeca Resources having working capital of at least CAD 2.2 million($1.75 million) and Hansa having working capital of at least CAD 500,000, delivery by Tribeca to Hansa of a current title opinion in respect of the property in form and substance satisfactory to Hansa, acting reasonably, completion of a current technical report prepared in accordance with National Instrument 43-101 -- Standards of Disclosure for Mineral Projects in respect of the property, preparation of Tribeca's financial statements in such form and covering such periods as required for the purposes of the required disclosure by Hansa and completion of the Consolidation by Hansa. As of October 21, 2021, Tribeca and Hansa have agreed to extend the date for signing the definitive agreement. The internal corporate reorganization of Tribeca Resources was completed as of December 22, 2021. As of June 29, 2022, Tribeca Resources has completed a non-brokered private placement. The board of Tribeca Resources and Hansa Resources have unanimously approved the transaction. As of October 24, 2022, TSXV has conditionally accepted the transaction, and conditionally approved the listing of the resulting issuer under the symbol "TRBC". The transaction is expected to close in October 2021. As of July 7, 2022, transaction is expected to complete by August 28, 2022. As of October 24, 2022, the transaction is expected to close on or about October 26, 2022.
Jason Sutherland of DuMoulin Black LLP acted as legal advisor to Hansa Resources Limited. Tony Wonnacott of Wonnacott Consulting Professional Corporation acted as legal advisor to Tribeca Resources. Odyssey Trust Company acted as transfer agent and registrar for the Hansa. Asesorías y Consultorías Alster SpA acted as legal advisor to Tribeca Resources.
Tribeca Resources Ltd. completed the acquisition of Hansa Resources Limited (TSXV:HRL) in a reverse merger transaction on October 26, 2022. The Shares of Tribeca Resources are expected to resume trading on the TSX Venture Exchange (the TSXV) on a post-Consolidation basis on or about November 2, 2022 under new CUSIP number 89602G109 and new ISIN number CA89602G1090.