Representative Matters

TSX-V Listed Company Successfully Closes Acquisition of Rare Earth Elements Mineral Property in Western Newfoundland

A TSX-V listed Canadian exploration and development company (the “Company”) successfully closed the acquisition of issued and outstanding shares of a mining company (the “Target Company”), pursuant to the letter agreement (the “Agreement”) among the Company, the Target Company, and all of the Target Company’s shareholders, (collectively, the “Vendors”), and acquired a Rare Earth Elements mineral property in Western Newfoundland (the “Property”).

Pursuant to the terms of the Agreement, the Company acquired all the issued and outstanding shares of a newly amalgamated corporation, resulting from the vertical combination of the Target Company and its wholly-owned subsidiary, which held 100% interest in the Property. Consideration for the Vendors was a cash deposit to be used for license fees to keep the Property in good standing and the issuance of common shares of the Company. Upon closing the Acquisition, the Target Company became the 100% holder of the Property and wholly-owned subsidiary of the Company.

Aird & Berlis acted for the Target Company, with a team that included Jeffrey Merk and Larissa Archer.