Major Transaction Completed
Electric Metals reverse takeover
2013-09-11 16:53 PT - Major Transaction Completed
The TSX Venture Exchange has accepted for filing the company's reverse takeover (RTO), which includes the following transactions.
Effective at the opening on Thursday, Sept. 12, 2013, trading in the shares of Moimstone Corp. shall resume.
Acquisition of Moimstone -- the acquisition of Moimstone by way of an amalgamation transaction and in consideration of the issuance of 31,788,812 shares of the amalgamated company (Amalco)
The transaction was effected by way of an amalgamation that was effected on Sept. 9, 2013, and the name of the Amalco is Moimstone (see item No. 2 below).
A finder's fee comprising 1.5 million Amalco shares payable to Mauris Financial Corp. is applicable.
Amalgamation
By certificate of amalgamation dated Sept. 9, 2013, Electric Metals Inc. (EMI) and Moimstone have amalgamated on the following basis:
- The holders of common shares of EMI will be entitled to receive one common share of the amalgamated company for every 10 shares held.
- The holders of common shares of Moimstone will be entitled to receive one common share of the amalgamated company for each one share held.
The exchange has been advised that the above transactions, approved by shareholders on Dec. 7, 2012, have been completed.