Sun Metals acquisition of Lorraine Copper
2019-04-11 16:45 ET - Amalgamation
Also Amalgamation (C-LLC) Lorraine Copper Corp (2)
Pursuant to an arrangement agreement dated Feb. 1, 2019, and a final court order dated April 10, 2019, issued by the Supreme Court of British Columbia, the company and Lorraine Copper Corp. will complete a plan of arrangement under the Business Corporations Act (British Columbia). Pursuant to the arrangement, which is intended to close April 12, 2019, the company will acquire all of the issued and outstanding shares of Lorraine in exchange for the company issuing to Lorraine shareholders 0.54 common share of the company for each Lorraine share held. Upon closing of the arrangement: (i) all outstanding stock options of Lorraine will be exchanged for options to purchase shares on the basis of the exchange ratio; and (ii) all unexercised Lorraine share purchase warrants will be exchanged for warrants to purchase shares on the basis of the exchange ratio and will expire in accordance with their current expiry dates.
Lorraine shares are expected to be delisted from the exchange at close of market on April 12, 2019.
Posttransactions
Capitalization: unlimited common shares with no par value, of which 107,548,612 common shares are issued and outstanding
Escrow: nil common shares subject to escrow
Transfer agent: Computershare Investor Services Inc.
Trading symbol: SUNM (unchanged)
Cusip No.: 86681L108 (unchanged)
For further information, please refer to the company's news release dated Feb. 4, 2019.
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