SpinCo approved - NR
Cdn Zeolite receives shareholder OK for Cdn Mining deal
2017-04-29 01:49 ET - News Release
Mr. Ray Paquette reports
CANADIAN ZEOLITE ANNOUNCES RESULT FROM ANNUAL AND SPECIAL MEETING
Canadian Zeolite Corp. has released the voting results of all items of business conducted at the company's annual and special meeting held April 28, 2017. The holders of common shares, warrants and options voted today to approve the previously announced plan of arrangement between Canadian Zeolite and Canadian Zeolite's wholly owned subsidiary, Canadian Mining Corp. The plan of arrangement received approval by 99.6 per cent of the securities voted at the meeting. Additionally, all annual matters that were put before the shareholders at the meeting were approved.
The number of directors was set at three, and the three nominees listed in the management proxy circular dated March 14, 2017, being Ray Paquette, Dave Kepkay and Ron Schneider, were re-elected as directors of Canadian Zeolite. Shareholders also approved the reappointment of auditor, Crowe MacKay LLP, and authorized the directors to fix its remuneration. A new stock option plan was also approved. For more information on the matters voted on at the meeting and for details of the plan of arrangement, please see Canadian Zeolite's management information circular dated March 14, 2017, which has been filed on Canadian Zeolite's profile on SEDAR.
The TSX Venture Exchange has also requested that the company amend the share exchange record date of May 1, 2017, which was previously announced on April 19, 2017. The share exchange record date is the date used to establish the Canadian Zeolite shareholders entitled to receive common shares of Canadian Mining pursuant to the plan of arrangement. The company will make a subsequent announcement to disclose a revised record date once all of the conditions to the arrangement have been fulfilled, which the company expects to occur within a week.
About Canadian Zeolite Corp.
Canadian Zeolite is an environmentally friendly green tech company involved in the exploration, development and production of the industrial mineral zeolite. It is a producer of natural zeolite from its zeolite deposits in British Columbia, Canada.