On August 4, 2023, Tri-River Venture Corporation (TRV) formally announced its business combination with Tyromer Technology Asia Limited (“TTA”) on the SEDAR (the financial statement filing system for Canadian public companies) platform. The proposed transaction will constitute a reverse takeover of TRV by TTA. TTA will ultimately realize its dream of “Tire Rubber Circular Economy Globalization”. The document highlights the following points:

• The valuation of TTA has been assessed as $17 million.  The value of TTA is subject to number of new shares issued before the Closing Date. 
• TTA is to raise $1.5 million through private placement.

• The parties will exchange shares at a price of $1 per share. 

• After the transaction been completed , TTA will exchange all it shares to TRV shares holding 94.36%.
• Upon receiving board or regulatory approvals, TRV’s name will be changed to Tyromer Technology Inc.