On July 30, 2021, Blue Rhino Capital Corp. completed its qualifying transaction involving the acquisition of the privately held Zebediela Nickel Company (Pty) Ltd. Pursuant to the terms of a definitive share purchase agreement among Blue Rhino and URU Metals Limited, the sole shareholder of Zebediela, Blue Rhino acquired all of the issued and outstanding share capital of Zebediela. Upon completion of the acquisition, Blue Rhino changed its name to “ZEB Nickel Corp.” and its common shares will trade on the TSX Venture Exchange under the new ticker symbol “ZBNI” upon the resumption of trading.
In connection with the acquisition, Blue Rhino completed a private placement of 11,200,000 subscription receipts at price of $0.25 per subscription receipt for gross proceeds of $2.8 million.
Cassels acted for Blue Rhino.