A$8m Reverse Takeover of White Eagle Resources by Lunalite International

December 2014

In June 2014, White Eagle Resources announced it had entered into an agreement to acquire Lunalite International for $2.6 million via a reverse takeover. In conjunction with the transaction, an additional $5.65 million in equity was raised.

Lunalite successfully designed, installed and tested one of the world’s first Cross Track Digital Media systems using large format LED screens to replace the current static print cross track media posters found in rail stations and has two separate 7 year operating contracts with the Melbourne and Brisbane rail networks.

The transaction was completed in December 2014 and White Eagle Resources was renamed XTD Ltd.

Azure acted as joint lead manager and corporate adviser to both XTD and Lunalite International on the transaction and capital raisings.