Carlyle Commodities to Consolidate 20-for-1, Merge with Silver Pony and Raise C$4.25M
Carlyle Commodities will amalgamate with Silver Pony Resources in a three-cornered deal, consolidate its shares on a 20-to-1 basis and rename as Silver Pony Resources Corp, focusing on the Trout Lake Property. It also closed a C$4.25M private placement of 425M subscription receipts converting into 21.25M shares and warrants.
1. Amalgamation and Name Change
Carlyle Commodities has executed a three-cornered amalgamation with Silver Pony Resources, resulting in a fundamental change under CSE policies. Upon closing, the combined entity will be renamed Silver Pony Resources Corp and focus exclusively on exploration and development of the Trout Lake Property in British Columbia.
2. Share Consolidation and Equity Restructuring
The company will consolidate its issued common shares on a 20-to-1 basis, with each Silver Pony shareholder receiving one post-consolidation share per SPR share. Existing SPR warrants will convert on a 1:1 basis into consolidated company shares upon exercise.
3. Concurrent Financing Terms
A non-brokered private placement issued 425 million subscription receipts at C$0.01 each, raising gross proceeds of C$4.25M. Each receipt converts into one unit—comprising one post-consolidation share and half a warrant—with full warrants exercisable at C$0.015 for 18 months.
4. Finder’s Fees and Warrants
The transaction includes an aggregate C$550,000 finder's fee payable in cash or shares, plus C$184,500 in cash commissions. The company issued 20.24 million finder's warrants, exercisable into units at C$0.01 per unit and C$0.015 per warrant for 18 months, adjusted for the consolidation.