Nebu Resources Inc. terminated its proposed change of business transaction and said it intends to remain in the mining industry or look for prospects in other industries.

In early 2016, the company announced plans to acquire a private real estate development company, LeMine Developments Corp., through a reverse takeover transaction.

Additionally, the company's President, CEO and Director John Eansor died. Director Paul Crath will assume the CEO position on an interim basis, effective immediately, while Rocco Liscio has been appointed as a director.

Nebu said March 29 it has now initiated the process of reinstating its shares to trading on the TSX.