Riviera Mina Ltd. signed a letter of intent to acquire Windfire Capital Corp. (TSXV:WIF.H) in a reverse merger transaction on July 21, 2015. Riviera Mina Ltd. entered into a share purchase agreement to acquire Windfire Capital Corp. (TSXV:WIF.H) in a reverse merger transaction on April 14, 2016. As on July 23, 2015, Windfire Capital Corp. has revised the terms of the letter of intent, Windfire will now acquire 91.5 per cent of the issued and outstanding shares of Riviera Mina Ltd. Windfire will pay a refundable deposit of $0.1 million, issue up to 8 million common shares of Windfire, issue to DMiner a secured convertible debenture in the principal amount of $1.9 million and issue up to 10 million Windfire Shares in exchange for the securities to be issued by Riviera in the financing. The Debenture will be convertible into Windfire Shares at the option of the holder, at a conversion price of $1 per Windfire share for a period of two years. The Windfire Shares issued as consideration for the transaction are expected to be subject to a hold period expiring four months and one day after the date of issuance, and to be subject to any escrow or pooling restrictions as may be applicable under the terms of the transaction or imposed by the exchange. The deposit will be paid upon approval of the TSX Venture Exchange and will be fully refunded if the acquisition does not close for any reason. Riviera intends to complete a private placement of subscription receipts for aggregate gross proceeds of up to $5 million at $0.5 per subscription receipt. Duane Parnham will be appointed as Executive Chairman of Windfire upon closing of the transaction. Completion of the acquisition remains subject to among other things, satisfactory due diligence by the parties, entry into a definitive agreement, approval of the TSX Venture Exchange and the shareholders of Windfire, completion of the financing, approval of the applicable regulatory bodies in Namibia if necessary and other conditions which are customary for transactions of this nature. As of October 1, 2015, Windfire Capital extends the deadline for entry into a definitive agreement with respect to the transaction from September 30, 2015, to December 31, 2015. Windfire Capital has completed and received approval for the requisite technical reports. As reported on January 5, 2016, Riviera Mina has extended the deadline for acquisition from December 31, 2015 to February 28, 2016. As on March 1, 2016, the deadline for the transaction has been extended from February 28, 2016, to June 30, 2016. Riviera Mina Ltd. cancelled the acquisition of Windfire Capital Corp. (TSXV:WIF.H) in a reverse merger transaction on January 23, 2017.