Selten Metal Corp entered into a letter agreement to acquire Railtown Capital Corp. (TSXV:RLT.P) in a reverse merger transaction on March 17, 2022. As per the terms of the transaction, Railtown will acquire all of the issued and outstanding securities of Selten on a one for one basis, which transaction will form Railtown's qualifying transaction pursuant to the policies of the TSX Venture Exchange and result in Selten becoming listed on the TSX Venture Exchange. The resulting company after completion of the Transaction will carry on the current business of Selten Metal and intends to be listed on the TSXV as a Tier 2 resource issuer. The Resulting Issuer's name will be changed to "Selten Metal Corp." or another name acceptable to Selten Metal. Upon completion of the Transaction, the board of directors and senior management of the Resulting Issuer is expected to be drawn largely from the current Selten Metal team. Expected officers and directors of the resulting issuer will include Jenny-Claire M. Ganasi, CEO and Director; Paul McKenzie, Director; Jim Guilinger, Director and Lead THOR Consultant; Jessie Friend, Director; Jason Felsman, THOR Project Manager; and James Clark, Senior Project Consultant.

Closing of the Transaction is subject to certain conditions, including but not limited to: (a) the completion of satisfactory mutual due diligence; (b) the receipt of all necessary approvals of the boards of directors of Railtown and Selten Metal; (c) the receipt of all required consents and approvals, including without limitation, approval of the Transaction by the TSXV as Railtown's Qualifying Transaction; (d) the Resulting Issuer satisfying the initial listing requirements set by the TSXV for a Tier 2 mining issuer; (e) the entry into of a definitive agreement; (f) approval of the shareholders of Selten Metal; and (g) the completion of the private placement of shares of Selten Metal. On September 15, 2022, the LOI with Railtown expired and the parties are currently negotiating an extension.

Selten Metal Corp cancelled the acquisition of Railtown Capital Corp. (TSXV:RLT.P) in a reverse merger transaction on April 25, 2023. The parties have elected to not renew the LOI.