BULLETIN V2025-2154
XTAO INC. ("XTAO.U")
BULLETIN TYPE: New Listing-Shares
BULLETIN DATE: July 18, 2025
TSX Venture Tier 2 Company
Effective at the opening Tuesday, July 22, 2025, the common shares of the Company will commence trading on TSX Venture Exchange. The Company is classified as a 'Data processing, hosting, and related services' company.
On July 11, 2025 Adrianna Ventures Ltd. ("Adrianna"), an unlisted reporting issuer and XTAO Inc. completed a merger (the "Merger"). Consideration for the Merger consisted of the issuance of 27,779,225 Resulting Issuer shares (which includes the private placement shares referenced below) at a deemed price of US$1.00 per share. In connection with the Merger, Adrianna common shares outstanding at the time of the Merger were exchanged for an aggregate of 540,000 Resulting Issuer shares.
Post-Merger, the Resulting Issuer's name was changed to XTAO Inc.
Concurrent with the transaction, the Company completed a non-brokered private placement of subscription receipts, which were exchanged for 22,779,225 common shares of the Company at an effective price of US$1.00 per share. Agents in connection with the private placements received aggregate cash fees of US$355,685.45.
3,625,000 common shares issued to Principals pursuant to the Merger are subject to a Tier 2 Escrow Agreement to be released over a 36-month period.
Corporate Jurisdiction: Cayman Islands
Capitalization: Unlimited common shares with no par value of which
28,319,225 common shares are issued and outstanding
Escrowed Shares: 3,625,000 common shares
Transfer Agent: Odyssey Trust Company
Trading Symbol: XTAO.U (new)
CUSIP Number: G9T27M 10 3 (new)
For further information, please refer to the Company's Filing Statement dated June 27, 2025.
Company Contact: Karia Samaroo, Chief Executive Officer
Company Address: 4th Floor, Genesis Building, 13 Genesis Close, Grand Cayman, Cayman Islands
Company Phone Number: (604) 704-4373
Company Email Address: k@xtao.co
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