On March 5, 2021, Sun Metals Corp. and Serengeti Resources Inc. completed a plan of arrangement under the Business Corporations Act (British Columbia) pursuant to which Serengeti acquired all of the issued and outstanding shares of Sun Metals on the basis of 0.215 common shares of Serengeti for each Sun Metals share held. The transaction included a bought deal financing for proceeds of $10.35 million.
Serengeti changed its name to NorthWest Copper Corp. and began trading on the TSX Venture Exchange on March 5, 2021 under the ticker “NWST”.
Cassels acted for Sun Metals.