NOT FOR DISSEMINATION IN THE UNITED STATES
OR THROUGH US NEWSWIRE SERVICES
VANCOUVER, British Columbia, Feb. 23, 2021 (GLOBE NEWSWIRE) -- Adyton Resources Corporation (the “Company” or “Adyton”) (TSX Venture: ADY), formerly XIB I Capital Corp., is pleased to announce that it has received final acceptance of the TSX Venture Exchange (the “TSX-V”) in respect of the Company’s Qualifying Transaction with Mayur Resources Limited to acquire Mayur’s copper-gold exploration tenements in Papua New Guinea, and that the Company will resume trading on the TSX-V at market open on February 24, 2021 under the trading symbol “ADY”.
As indicated in the bulletin issued by the TSX-V relating to its acceptance of the Qualifying Transaction, the Company will be classified as a Tier 1 mining company. With the Company’s graduation to a Tier 1 listing, the common shares of the Company previously deposited into escrow pursuant to the CPC escrow agreement (the “Escrow Agreement”) between Odyssey Trust Company, as the escrow agent, and the Company will now be governed by the release provisions of Tier 1 Issuer escrow, as contemplated by the Escrow Agreement and the rules of the TSX-V. As a result, an aggregate of 963,740 common shares subject to the Escrow Agreement will be releasable from escrow on the date of the final bulletin relating to the Qualifying Transaction, and an aggregate of 2,891,220 common shares that will remain in escrow will be released from escrow as follows: 963,740 common shares are releasable August 24, 2021; 963,740 common shares are releasable on February 24, 2022; and the remaining 963,740 common shares are releasable on August 24, 2022.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
For further information please contact:
Adyton Resources Corporation
Frank Terranova, President and Chief Executive Officer
Phone: +61 7 3157 4400