Cashbox Ventures Enters Into Definitive Agreement for a Business Combination With LICAN Exploration
Cashbox Ventures Enters Into Definitive Agreement for a Business Combination With LICAN Exploration
Vancouver, British Columbia--(Newsfile Corp. - March 29, 2023) - Cashbox Ventures Ltd. (CSE: CBOX.X) (the "Corporation" or "Cashbox") is pleased to announce that Cashbox, LICAN Exploration Inc. ("LICAN") and the shareholders of LICAN have entered into a definitive share exchange agreement (the "Definitive Agreement") in respect of their previously announced business combination (see January 18, 2023 news release). Under the terms of the Definitive Agreement, Cashbox will acquire LICAN, and will continue as a mining issuer focused on the exploration and development of mineral properties in Ontario (the "Transaction").
温哥华,不列颠哥伦比亚省-(Newsfile Corp.-2023年3月29日)-Cashbox Ventures Ltd.(CSE:CBOX.X)(The公司“或”现金箱)很高兴地宣布,Cashbox,LICAN Explore Inc.(利康“)和LICAN的股东签订了最终的换股协议(”最终协议)。根据最终协议的条款,Cashbox将收购LICAN,并将继续作为专注于安大略省矿产资源勘探和开发的矿业发行人(“交易记录“)。
LICAN is a private Ontario company which has a portfolio of lithium exploration properties under option in Northern Ontario (the "Optioned Properties"). Pursuant to the Definitive Agreement, Cashbox has agreed to acquire all of the issued and outstanding shares of LICAN. Each LICAN shareholder will receive, in exchange for each LICAN share it holds, 0.4078 of a common share in the capital of Cashbox at a deemed issuance price of $0.10 per share, resulting in the issuance of 4,975,160 Cashbox shares after giving effect to a 10:1 share consolidation of Cashbox's existing shares. At closing, and prior to giving effect to Cashbox's $1,750,000 subscription receipt offering (see March 2, 2023 news release), existing Cashbox shareholders will hold approximately 75% of the combined entity (the "Resulting Issuer") and the former shareholders of LICAN will hold the remaining 25% interest.
LICAN是一家安大略省的私营公司,在安大略省北部拥有一系列锂勘探资产。可选属性根据最终协议,Cashbox已同意收购LICAN的全部已发行及已发行股份。每名LICAN股东将按每股0.1美元的假定发行价获得Cashbox股本中普通股的0.4078,作为交换,Cashbox现有股份将按10:1的比例合并后发行4,975,160股Cashbox股票。交易完成时,在Cashbox价值1,750,000美元的认购收据发售生效之前(见2023年3月2日新闻稿),现有Cashbox股东将持有合并后实体约75%的股份最终的发行者“),LICAN的前股东将持有剩余的25%权益。
At closing, the Resulting Issuer will change its corporate name from "Cashbox Ventures Ltd." to "Volta Metals Ltd." and subject to the approval of the Canadian Securities Exchange (the "CSE"), trade on the CSE under a new trading symbol.
在交易结束时,由此产生的发行商将把公司名称从“Cashbox Ventures Ltd.”改为“Cashbox Ventures Ltd.”。致“Volta Metals Ltd.”并须经加拿大证券交易所(The)批准CSE“),以新的交易代码在CSE交易。
Transaction Highlights
交易亮点
The Resulting Issuer to maintain the right to earn a 100% ownership in the Optioned Properties, subject to underlying royalties;
The Optioned Properties are lithium exploration projects in two prolific emerging hard-rock lithium districts, Root Lake and the Seymour Falcon corridor;
All of the Optioned Properties are road accessible, with the flagship Falcon West Project having historic drill logs and 2022 channel sample results; and
Portfolio includes seven projects totaling over 19,000 hectares, with exploration programs expected to commence in the third quarter of 2023.
由此产生的发行人保留在可选物业中赚取100%所有权的权利,但须支付基础特许权使用费;
可选物业是两个多产的新兴硬岩锂区--根湖和西摩猎鹰走廊--的锂勘探项目;
所有可选物业都可以通过道路到达,旗舰项目猎鹰西部项目拥有历史钻探日志和2022年航道样本结果;以及
投资组合包括七个项目,总面积超过19,000公顷,勘探项目预计将于2023年第三季度开始。
Figure 1. Location map of LICAN's lithium exploration properties.
图1。LICAN的锂勘探物业位置图。
Transaction Details
交易细节
Upon completion of the Transaction, the management of the Resulting Issuer is expected to consist of Kerem Usenmez (President, CEO and director), Darren Morgans (CFO), Mark Cruise (director), Mike Hoffman (director), Saga Williams (director), Brad Humphrey (director) and Murray Hinz (director). The existing directors and officers of the Corporation, with the exception of Mr. Hinz, will resign at closing.
交易完成后,由此产生的发行商的管理层预计将包括凯雷姆·乌森梅斯(首席执行官兼董事公司首席执行官总裁)、达伦·摩根(首席财务官)、马克·克鲁斯(董事公司)、Mike·霍夫曼(董事公司)、萨加·威廉姆斯(董事公司)、布拉德·汉弗莱(董事公司)和默里·辛茨(董事公司)。除欣茨先生外,公司现有董事和高级管理人员将在交易结束时辞职。
The Transaction constitutes a "fundamental change" of Cashbox under CSE Policy 8. In accordance with CSE policies and disclosure requirements, the Corporation will file a CSE Form 2A Listing Statement under its profile on the CSE's website, and under the Corporation's SEDAR profile at .
这项交易构成了CSE政策8下现金箱的“根本改变”。根据CSE政策和披露要求,公司将提交CSE表格2A上市声明在CSE网站上的简介下,以及在以下网址的公司SEDAR简介下。
The directors of the Corporation have unanimously voted in support of the Transaction, and the Corporation intends to seek approval of the Transaction from its shareholders by way of a written consent resolution from shareholders that hold in the aggregate greater than 50% of Cashbox's issued and outstanding voting shares.
公司董事一致投票支持这项交易,公司打算通过书面同意决议的方式寻求股东批准这项交易,这些股东持有Cashbox已发行和已发行有表决权股份的总比例超过50%。
Support for the Transaction
对交易的支持
All directors and senior officials of LICAN have approved the Transaction.
LICAN的所有董事和高级官员都批准了这笔交易。
The Definitive Agreement contains representations, warranties and conditions of each party customary in transactions of this nature. The closing of the Transaction is subject to the receipt of certain regulatory approvals, including approval of the CSE. Further details regarding the terms of the Transaction are set out in the Definitive Agreement, a copy of which will be filed under the Corporation's SEDAR profile at .
《最终协议》包含此类交易中惯用的各方的陈述、担保和条件。交易的完成取决于收到某些监管批准,包括CSE的批准。关于交易条款的进一步细节载于最终协议,该协议的副本将在公司的SEDAR简介下存档,网址为。
Subject to certain closing conditions, including obtaining the requisite regulatory approvals, the Transaction is expected to close on or about May 15, 2023.
在某些完成条件下,包括获得必要的监管批准,交易预计将在2023年5月15日左右完成。
Advisors and Counsel
顾问和律师
DLA Piper (Canada) LLP is acting as legal advisor to Cashbox.
DLA Piper(Canada)LLP将担任Cashbox的法律顾问。
Lotz & Company is acting as legal advisor to LICAN.
Lotz&Company将担任LICAN的法律顾问。
General Information on Cashbox
关于Cashbox的一般信息
Cashbox is incorporated under the laws of the Province of British Columbia and has a head office in Vancouver, British Columbia. The Corporation is an "inactive issuer" under the policies of the CSE.
Cashbox根据不列颠哥伦比亚省的法律注册成立,总部设在不列颠哥伦比亚省温哥华。根据CSE的政策,该公司是“非活跃发行人”。
General Information on LICAN
有关许可证的一般信息
LICAN is a private mineral exploration company focused on lithium, cesium and tantalum, and is based in Toronto, Ontario. It has optioned and is currently exploring a critical minerals portfolio of lithium, cesium and tantalum projects in Northwestern Ontario, which is considered to be one of the most prolific emerging hard-rock lithium districts in the world. To find out more about LICAN, and its flagship Falcon West Project, please visit .
LICAN是一家专注于锂、铯和钽的私营矿产勘探公司,总部设在安大略省多伦多。该公司已选择并正在勘探位于安大略省西北部的锂、铯和钽项目的关键矿物组合,该地区被认为是世界上最多产的新兴硬岩锂地区之一。要了解更多关于LICAN及其旗舰猎鹰西部项目的信息,请访问。
Cashbox Contact Information
connor@Cashboxventures.io
+1 (236) 547 7463
现金箱联系信息
邮箱:connor@cashboxventures.io
+1(236)547 7463
LICAN Contact Information
kusenmez@LICAN.ca
+1 (416) 919 9060
LICAN联系信息
邮箱:kusenmez@lican.ca
+1(416)919 9060
This news release contains forward-looking statements relating to product development, plans, strategies and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release are forward-looking statements that involve risks and uncertainties. Forward-looking information in this news release includes, but is not limited to, statements in respect of: the terms, timing and completion of the Transaction, if the Transaction would at all close, including the receipt of all necessary regulatory and CSE approvals, authorizations and consents and corporate and shareholder approvals required in connection therewith; the 10:1 share consolidation of the Corporation's shares, including the timing thereof; the Optioned Properties, including whether any such properties will be further explored or developed; the makeup of the Resulting Issuer's management team upon completion of the Transaction; the anticipated business plans and timing of future activities of the Resulting Issuer; and the anticipated benefits and results of the Transaction. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations include: the failure to satisfy the conditions of the CSE and other risks detailed from time to time in the filings made by the Corporation with securities regulators; the fact that LICAN's interests in the Optioned Properties are options only and there is no guarantee that such interest, if earned, will be certain; the future prices and demand for lithium; and delays or the inability of the Corporation to obtain any necessary approvals, permits and authorizations required to carry out its business plans. The reader is cautioned that assumptions used in the preparation of any forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Corporation. The reader is cautioned not to place undue reliance on any forward-looking statements. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Corporation will update or revise publicly any of the included forward-looking statements as expressly required by applicable law.
本新闻稿包含与产品开发、计划、战略和其他非历史事实相关的前瞻性陈述。前瞻性陈述通常用“将”、“可能”、“应该”、“预期”、“预期”和类似的表达方式来识别。本新闻稿中除历史事实陈述外的所有陈述均为前瞻性陈述,涉及风险和不确定因素。本新闻稿中的前瞻性信息包括但不限于以下陈述:交易的条款、时间和完成,如果交易最终完成,包括收到所有必要的监管和CSE批准、授权和同意以及与此相关的公司和股东批准;公司股票的10:1股份合并,包括其时间;可选物业,包括是否将进一步探索或开发任何此类物业;交易完成后发行人管理团队的组成;由此产生的发行人的预期业务计划和未来活动的时间;以及交易的预期收益和结果。不能保证这样的陈述将被证明是准确的,实际结果和未来事件可能与此类陈述中预期的大不相同。可能导致实际结果与公司预期大相径庭的重要因素包括:未能满足CSE的条件和公司不时向证券监管机构提交的文件中详细描述的其他风险;LICAN在可选物业中的权益只是期权,不能保证该权益(如果赚取)将是确定的;锂的未来价格和需求;以及公司延迟或无法获得执行其业务计划所需的任何必要批准、许可和授权。提醒读者,在编制任何前瞻性陈述时使用的假设可能被证明是不正确的。由于许多已知和未知的风险、不确定性和其他因素,其中许多是公司无法控制的,事件或情况可能导致实际结果与预测的结果大不相同。提醒读者不要过度依赖任何前瞻性陈述。这些信息虽然在准备时被管理层认为是合理的,但可能被证明是不正确的,实际结果可能与预期的大不相同。本新闻稿中包含的前瞻性陈述明确地受到本警示性声明的限制。本新闻稿中包含的前瞻性陈述是在本新闻稿发布之日作出的,公司将根据适用法律的明确要求,更新或公开修改任何包含的前瞻性陈述。
To view the source version of this press release, please visit
要查看本新闻稿的源版本,请访问