Transactions

Transactions

Overview

Xtraction Services, Inc. Completes Merger with Caracara Silver Inc. to Form Xtraction Services Holdings Corp.

September 18, 2019

Caracara Silver Inc. (“Caracara”) and Xtraction Services, Inc. (“Xtraction”), a corporation in the business of providing and leasing extraction, processing, distillation and related equipment used to extract and distill oil from cannabis and hemp plants, have successfully completed a merger of the two companies (the “Transaction”). The merger was effected by way of a three-cornered amalgamation whereby a wholly-owned subsidiary of Caracara, Caracara Silver US, Inc., amalgamated with Xtraction and Caracara acquired all of the issued and outstanding shares of Xtraction. In connection with the completion of the merger, Caracara changed its name to “Xtraction Services Holdings Corp.”.

In connection with the closing of the Transaction, Caracara de-listed its common shares from the NEX Board of the TSX Venture Exchange effective at the close of business on September 6, 2019, and commenced trading of its subordinate voting shares on the Canadian Stock Exchange under the ticker "XS" on September 13, 2019.

Wildeboer Dellelce LLP acted for Xtraction in connection with the Transaction with a team that consisted of Jeff Hergott, Danny Kharazmi, Ragu Anantharajah, Alexandra Meffe, Colin Romano and Sarah Wahba (corporate/securities) and Katy Pitch (tax).