Fairplay Ventures Enters Agreement with Ampere Metals for Reverse Takeover

Fairplay Ventures Inc. announced a non-binding letter of intent to acquire Ampere Metals Pty. Limited, a move set to result in a reverse takeover of Fairplay by Ampere. This is intended to be a Qualifying Transaction under TSX Venture Exchange policies.

Upon completion, Fairplay will be renamed Ampere Metals Limited, carrying forward Ampere's business. Trading of Fairplay shares is currently halted pending necessary documentation approval by the Exchange.

The transaction will see Ampere shareholders owning a majority of the resulting shares, with a planned exchange ratio of 1:1. An additional financing round aims to raise $10 million for the transaction and business expenses.

Completion is conditional on several factors, including due diligence and regulatory approvals. The transaction carries inherent risks, including market uncertainties, but both parties are working towards meeting all conditions.