So it started,nice to know. Item 4 Summary of Material Change
Janina completes Horn Rare Metals Ltd. amalgamation, reverse take-over and name change
of Janina to International Beryllium Corporation.
Item 5 Full Description of Material Change
Anthony G. Dutton, Chief Executive Officer and director of Janina Resources Limited
(“Janina”) and Dal Brynelson, President of Horn Rare Metals Ltd. (“Horn”) are pleased to
announce the successful completion of the amalgamation, reverse take-over and name
change of Janina to International Beryllium Corporation.
In connection with a Filing Statement of Janina dated November 15, 2007 which can be
found on SEDAR at www.sedar.com, a majority of the shareholders of Janina consented to
the amalgamation, name change and reverse take-over.
In addition, Janina requested a new stock symbol for trading under its new name
International Beryllium Corporation (“IBC”) which was approved by the TSX Venture
Exchange. The new symbol for TSX Venture Exchange trading will be “IB” effective
November 28, 2007. The headquarters of the Company will continue to be in Vancouver,
British Columbia.
Shareholders will be contacted and instructed on how to exchange their existing share
certificates for share certificates of IBC.
On July 27, 2007 Janina closed a private placement of subscription receipts of its wholly
owned subsidiary. Effective November 23, 2007 the subscription receipts have been
automatically converted into units of IBC without any further action on the part of the
subscribers. The subscription receipts have been automatically cancelled and the net
subscription proceeds plus interest earned thereon have been released by the Escrow Agent
to IBC. Each unit is comprised of one common share of IBC and one-half of one share
purchase warrant. Each whole share purchase warrant will be exercisable into an additional
common share of IBC on or before November 23, 2009 at a price of $0.75 each. The gross
proceeds received by IBC from the subscription receipts financing was $10,055,000. Bolder
Investment Partners, Ltd. acted as agent for part of the financing and in connection therewith
was paid $80,000 from the gross proceeds of the subscription receipt financing.