Linceo Media Group Inc. entered into a letter of intent to acquire Nebu Resources Inc. (TSXV:NBU) in a reverse merger transaction on May 29, 2017. As part of the transaction, Nebu Resources will spin-out its existing mining properties for shares of a private company on behalf of the existing shareholders of Nebu Resources, and also will settle certain debt owed to existing creditors. Linceo Media Group Inc. entered into a share exchange agreement to acquire Nebu Resources Inc. (TSXV:NBU) in a reverse merger transaction on June 14, 2018. Prior to the closing of the transaction, Nebu Resources will consolidate its issued and outstanding common shares, on the basis of five old Nebu Resources shares for one new Nebu Resources share. Pursuant to the transaction, the original shareholders of Linceo will receive 200 post-consolidated Nebu shares for each Linceo share held at a price of CAD 0.2 per Nebu share and each Linceo share issued after the date of the agreement will be exchanged on the basis of one Nebu share for each Linceo share. All outstanding options and warrants of Nebu Resources shall be appropriately adjusted to reflect the consolidation. Concurrent with the closing of the transaction, Nebu Resources will complete, a non-brokered private placement of up to 17.5 million units of Nebu at a price of CAD 0.2 per unit for gross proceeds of up to CAD 3.5 million. Each unit will consist of one post-consolidated Nebu share and one-half of one post-consolidated Nebu share purchase warrant. Each warrant entitles the holder thereof to purchase one post-consolidated Nebu share at a price of CAD 0.3 for a period of 24 months after the date of issuance. In addition, Linceo will complete a non-brokered private placement of up to CAD 0.5 million convertible debentures of Linceo whereby each debenture is convertible into Linceo shares at CAD 0.1 per Linceo share. The debentures will automatically convert to Linceo shares prior to the closing of the transaction. Certain of the Nebu shares to be issued pursuant to the transaction are expected to be subject to restrictions on resale or escrow under the policies of the exchange, including the securities to be issued to ‘Principals’, which will subject to the escrow requirements of the exchange. In addition certain shareholders who are receiving Nebu shares pursuant to the transaction and who are not Principals have agreed to voluntarily pool their Nebu shares on the same escrow provisions as the Principals. Upon completion of the transaction, Nebu will continue on with the business of Lineco (the Company after the transaction being referred to herein as the “Resulting Issuer”). Nebu Resources will change its name to ‘Canadian Strategic Minerals Corp.’, or such other name as agreed by both the parties. It is currently expected that all of the current officers and directors of Nebu will resign from their respective positions with Nebu, except for Paul Crath and Mark Mungo. The management of the Resulting Issuer is expected to consist of Kyler Hardy as Chief Executive Officer and Queenie Kuang as Chief Financial Officer and the board of directors of the Resulting Issuer is expected to consist of Kyler Hardy, Paul Crath, David Eaton, Denise Lok, Rocco Liscio and Mark Mungo. The transaction is subject to customary conditions including, Linceo completing the debenture financing, the transaction being effective on or prior to September 30, 2018, the receipt of board and shareholders approval of both Nebu Resources and Linceo Media Group, in addition to any approvals required by exchange or other regulatory bodies. The transaction is expected to close in September 2017. As of January 15, 2018, the transaction is expected to be completed in the first quarter of 2018. As of July 30, 2018, the transaction is expected to be completed on or before September 30, 2018. Linceo Media Group Inc. cancelled the acquisition of Nebu Resources Inc. (TSXV:NBU) in a reverse merger transaction on January 10, 2019.