ReSolve Energy Completes Reverse Takeover Transaction
Montreal, Quebec — October 22, 2025 — Leads & Copy — ReSolve Energy Inc. has completed the reverse takeover transaction of QNB Metals Inc.
The closing of the reverse takeover transaction and financing positions ReSolve Energy Inc. to continue with the final step towards full commercialization of its green energy, patent pending technologies and also provides access to government grant programs and other funding alternatives, according to Ian C. Peres, President & CEO of the Corporation. The company anticipates the restart of trading in short order upon final acceptance from the CSE.
On October 21, 2025, the Corporation completed its previously announced non-brokered private placement financing via the issuance of 10,000,000 subscription receipts at a price of $0.25 per Subscription Receipt for aggregate gross proceeds of $2,500,000. Each Subscription Receipt automatically converted, upon satisfaction of certain escrow release conditions, into one post consolidation common share. There were no purchase warrants or finder’s fees associated with the Financing.
Pursuant to the previously announced share exchange agreement dated July 4, 2025, the Corporation acquired all the common shares of ReSolve Energy Holding Inc. (formerly, ReSolve Energy Inc.), a private company, in consideration for the issuance of 18,000,000 common shares in the capital of the Corporation on a post-Consolidation basis at a deemed price of $0.25 per Post-Consolidation Share.
As contemplated by and required under the Definitive Agreement, the Corporation has changed its name from “QNB Metals Inc.” to “ReSolve Energy Inc.” and completed a consolidation of its common shares on the basis of five (5) pre-consolidation Common Shares for one (1) Post-Consolidation Share. As of the date hereof, the Corporation has a total of 36,549,992 issued and outstanding common shares.
All the Corporation’s board of directors and senior management will remain in place with the addition of Andre Proulx, the previous President of ReSolve, being named as Executive Chairman to the Corporation’s board of directors. Concurrent with the closing of the Transaction, Byron D’Silva has also been appointed as Chief Financial Officer of the Corporation.
Trading in the common shares of the Corporation, is expected to resume shortly on the CSE under the new symbol “RESO” following satisfaction of all CSE listing conditions.
The Corporation’s shareholders approved the Transaction at its annual and special meeting of shareholders held on July 30, 2025 including the name change to ReSolve, new ticker symbol, share consolidation and $2,500,000 Financing. Further, the CSE provided conditional approval of the Transaction on September 4, 2025 with the Financing being one of the final conditions for CSE final approval. Completion of the Transaction remains subject to customary conditions, including CSE final acceptance and regulatory approvals.
As a condition pursuant to the Definitive Agreement, the joint venture previously entered into between the Corporation and ReSolve Energy Holding Inc. has been terminated. Further details will be provided in a listing statement to be filed on SEDAR+ at www.sedarplus.ca.
The Transaction is not a “related party transaction”. The Post-Consolidation Shares issued pursuant to the Transaction and Financing were issued pursuant to exemptions from the prospectus requirements of applicable securities legislation.
The Corporation is focused on the development and commercialization of advanced biofuel and renewable energy technologies, as well as the exploration of natural hydrogen resources. The Corporation has engineered a proprietary, patent pending acid hydrolysis platform capable of converting residual biomass into three complementary renewable energy products: second-generation ethanol, industrial-grade lignin pellets, and electricity generated via integrated biomass cogeneration. The Corporation also owns a patent pending intellectual property portfolio related to the hydrogen detection and extraction methods in addition to 119 mineral exploration claims covering 6,613 hectares in Québec.
Contact:
Ian C. Peres, CPA, CA
President & CEO
+1.416.579.3040
Source: ReSolve Energy Inc.
Share this story:
