Oro X Mining Corp. (TSXV:OROX) signed non-binding letter of intent to acquire Mines & Metals Trading (Peru) PLC from José Maria García Jimenez and Sebastian Wahl and others for CAD 29.6 million in a merger of equals transaction on January 7, 2021. Oro X Mining Corp agreed to acquire Mines & Metals Trading (Peru) PLC from José Maria García Jimenez and Sebastian Wahl and others in on February 9, 2021. Under terms, each Mines & Metals Trading shares will be exchanged for common shares of Oro X of approximately 42.9 million shares at an exchange ratio of 28.828. Pursuant to the transaction, José Maria García Jimenez and Sebastian Wahl, the two shareholders of Mines & Metals Trading, are expected to receive 13.3 million and 12.8 million Oro X Shares, respectively, in exchange for their Mines & Metals Trading Shares, equal to 15.6% and 15% of the outstanding Oro X Shares upon closing of the transaction. Post acquisition, Mines & Metals Trading will change its name to Silver X Mining Corp subject to approval of Exchange. If either of the parties terminate the agreement is subject to termination fee of CAD 2.5 million. The transaction is financed by subscription of private placement CAD 14 million. As of April 16, 2021, Oro X Mining Corp. and Mines & Metals Trading closed private placement of subscription receipts for total gross proceeds of CAD 14,189,571. The gross proceeds from the issuance of subscription receipts will be deposited with a subscription receipt agent. On closing of the Transaction, two members of Oro X’s current board of directors (Matt Roma and Luis Miguel Espinosa Chiriboga) will resign and Oro X will appoint two new directors nominated by MMTP (Jose Maria Garcia and Sebastian Wahl). The Parties will agree to the appointment of one additional new director. Luis Zapata is expected to resign as Chief Executive Officer of Oro X and to be appointed as Oro X Mining Corp.'s Executive Chairman. Mr. García Jimenez will become Oro X’s Chief Executive Officer and Mr. Wahl will become the Vice President of Corporate Development. The transaction is subject to completion of financing of CAD 14 million, approval of Mines & Metals Trading shareholders, the receipt of all necessary consents, approvals, authorizations including TSX Venture Exchange approval, certain changes to the board of directors and management of Oro X. On May 3, 2021, Oro X and Mines & Metals Trading received the conditional acceptance from the TSX Venture Exchange. The transaction is expected to close in June of 2021. As of June 18, 2021, Oro X Mining Corp. has changed its name from “Oro X Mining Corp.” to “Silver X Mining Corp.” The transaction is expected to close shortly. Oro X and Mines & Metals Trading intend to use the proceeds of the financing, subject to the satisfaction of the escrow release Conditions, to develop the Nueva Recuperada project, complete a planned 30,000 m drill campaign and to provide general working capital. Echelon Wealth Partners Inc. acted as financial advisor, McMillan LLP and Dentons Canada LLP acted as legal advisors for Oro X Mining Corp and Gowling WLG (Canada) LLP acted as legal advisor for Mines & Metals Trading.