Canadian Nexus Team Ventures Corp. (CNSX:TEAM) acquired a 4.85% stake in AdvEn Industries Inc. for CAD 1 million on December 7, 2021. TEAM will have the option to appoint a director to the board of AdvEn. In a related transaction, AdvEn and its shareholders have entered into a share exchange agreement with Nano Innovations Inc., wherein AdvEn shareholders have agreed to exchange all of the issued and outstanding shares of AdvEn with Nano on a one-to-one basis. Upon the completion of the transaction, TEAM will hold 3.645% of the issued and outstanding shares of Nano. Prior to the closing with Nano, AdvEn intends to spinout two technologies: (1) a carbon fibre technology, through Tangold Inc.; and (2) a bitumen solidification technology, through AdvEn Bitumen Innovation Inc. As part of the spinouts, AdvEn intends to distribute Tangold and Bitumen Innovation shares to AdvEn shareholders through a special dividend pari pasu which will include TEAM. Upon completion of the spinouts, TEAM and other strategic shareholders are expected be granted restricted stock units in Tangold and Bitumen Innovation.

Canadian Nexus Team Ventures Corp. (CNSX:TEAM) completed the acquisition of a 4.85% stake in AdvEn Industries Inc. on December 7, 2021.