Lorraine receives final court OK for Sun Metals deal
2019-04-10 17:02 ET - News Release
Mr. Glen Garratt reports
LORRAINE RECEIVES FINAL COURT APPROVAL OF ARRANGEMENT
Lorraine Copper Corp. has received a final order of the Supreme Court of British Columbia in respect of its previously announced plan of arrangement. The arrangement, which involves Sun Metals Corp. acquiring, through a wholly owned subsidiary, all of the issued and outstanding common shares of Lorraine, was approved by securityholders of Lorraine at a special meeting of the Lorraine securityholders held on April 5, 2019.
The arrangement remains subject to final approval by the TSX Venture Exchange and is expected to close on April 12, 2019. Under the arrangement, Lorraine shareholders will receive 0.54 of a common share of Sun Metals for every common share of Lorraine held. It is expected that the common shares of Lorraine will be halted prior to the opening of the market on April 11, 2019, and will remain halted pending completion of the arrangement. The common shares of Lorraine are expected to be delisted from the TSX-V effective the close of market on April 12, 2019.
Additional information regarding the terms of the arrangement is set out in Lorraine's management information circular dated March 5, 2019, which is available under Lorraine's profile on SEDAR.
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