NR from AGM resultsAug 16-2019 Warrents extended to Aug-16-2020
ORIGINAL: Mountain Lake Announcing Meeting Results
2019-08-15 13:50 ET - News Release
SUNKEN LAKE, NS / ACCESSWIRE / August 15, 2019 / Mountain Lake Minerals Inc. (CSE:MLK) (“Mountain Lake” or the “Company”)announces that in furtherance of its proposed fundamental change transaction with 1157630 B.C. Ltd. (the “Transaction”) and proposed spin-off of its mineral properties (the “Spin-Off”), both the Transaction and the Spin-Off were approved by the shareholders of the Company by a 99.9% margin on August 8, 2019. Additionally, the Company received the final approval from the B.C. Supreme Court at a hearing held on August 12, 2019. Refer to the information circular of the Company dated June 21, 2019 for additional information concerning the Transaction and the Arrangement.
The Company will announce the effective date for the Spin-Off once it is determined, which will be following completion of the Transaction. Shareholders of record on the proposed effective date of the Spin-Off, will receive one common shares of 1167343 B.C. Ltd. (“Spinco”) for every one share of the Company that they hold, while retaining their Company shares. The shares of the Company remain halted under the policies of the Canadian Securities Exchange pending approval and completion of the Transaction.
The Company will provide a further update once it receives approval for the completion of the Transaction.
In other news, the board of directors of the Company have determined to extend the expiry date of 680,000 share purchase warrants exercisable at a price of $0.50 from August 16, 2019 to August 16, 2020.
Additional Information
Trading in the common shares of the Company has been halted as of June 7, 2018 and is expected to remain halted pending satisfaction of applicable requirements of the CSE. There can be no assurance that trading in the common shares of the Company will resume prior to completion of the Transaction or the Spin-Off.