SalvaRx Limited signed non-binding heads of terms to acquire 3Legs Resources plc (AIM:3LEG) from BlackRock Investment Management (UK) Limited, British Polar Engines Ltd., Pires Investments PLC, Port Erin Biopharma Investments Limited and other shareholders in a reverse merger transaction on November 4, 2015. SalvaRx Limited conditionally agreed to acquire 3Legs Resources plc (AIM:3LEG) from BlackRock Investment Management (UK) Limited, British Polar Engines Ltd., Pires Investments PLC, Port Erin Biopharma Investments Limited and other shareholders in a reverse merger transaction on March 3, 2016. The consideration will be satisfied by the issue of new ordinary shares of 3Legs Resources plc. As part of transaction, 3Legs Resources every 100 Existing Ordinary Shares of 3Legs Resources will be consolidated into 1 New Ordinary Share. Following implementation of transaction, SalvaRx will hold, together with certain other Existing Shareholders who are deemed to be acting in concert with them, 26.64 million new ordinary shares, representing 73.05% of the enlarged share capital.

3Legs Resources plc will change its name to SalvaRx Group PLC to reflect the company's new underlying business. As from Admission the Company's TIDM will be "SALV". Jim Mellon will replace Richard Armstrong as Non-Executive Chairman with Richard Armstrong continuing as a non-executive director of 3Legs Resources and that Ian Walters will be appointed as Chief Executive Officer, director and Kam Shah shall be appointed as director of 3Legs Resources. The transaction was approved by shareholders of 3Legs Resources plc on March 21, 2016. Independent Directors of 3Legs Resources unanimously recommended that Shareholders vote in favour of transaction. The Independent Directors have given irrevocable undertakings to 3Legs Resources to vote in favour of the Resolutions to be proposed at the General Meeting. The transaction is expected to complete on March 22, 2016. John Howes, Abigail Wayne, Matthew Johnson and Edward Hutton Northland Capital Partners Limited acted as financial advisor for 3Legs Resources. Lucy Williams and Duncan Vasey Peterhouse Corporate Finance Limited acted as broker for 3Legs Resources. Tim Blackstone of Britton Financial PR acted as public relation advisor for 3Legs Resources. Jamie Hooper and Alex Shaw of Abchurch Communications Limited acted as public relation advisor for 3Legs Resources. PharmaVentures acted as financial advisor to 3Legs Resources.

SalvaRx Limited completed the acquisition of 3Legs Resources plc (AIM:3LEG) from BlackRock Investment Management (UK) Limited, British Polar Engines Ltd., Pires Investments PLC, Port Erin Biopharma Investments Limited and other shareholders in a reverse merger transaction on March 22, 2016.