RE:anyone have newsYes.
https://ceo.ca/@newsfile/constantine-announces-shareholder-approval-of-spin-out Constantine Announces Shareholder Approval of Spin-Out and "Due Bill" Trading Date for Constantine Shares Vancouver, British Columbia--(Newsfile Corp. - July 26, 2019) - Constantine Metal Resources Ltd. (TSXV: CEM) (OTCQX: CNSNF) ("Constantine" or the "Company") is pleased to announce the results of the Annual General and Special Meeting (the "Meeting") of shareholders (the "Constantine Shareholders") held on July 25, 2019.
At the Meeting, Constantine Shareholders approved a plan of arrangement (the "Arrangement") involving the Company and its wholly owned subsidiary, HighGold ("HighGold"), pursuant to which the Company will spin-out its gold assets into HighGold. Following the Meeting, the Company was granted a final order from the Supreme Court of British Columbia approving the Arrangement.
Under the terms of the Arrangement, Constantine Shareholders of record at the close of business on July 31, 2019 will receive one common share of HighGold for every three common shares of Constantine held ("Constantine Shares"), subject to the "due bill" trading procedure described below. Completion of the Arrangement remains subject to the final approval of, and customary final filings with, the TSX Venture Exchange ("TSX-V") and is expected to close on August 1, 2019.ancouver, British Columbia--(Newsfile Corp. - July 26, 2019) - Constantine Metal Resources Ltd. (TSXV: CEM) (OTCQX: CNSNF) ("Constantine" or the "Company") is pleased to announce the results of the Annual General and Special Meeting (the "Meeting") of shareholders (the "Constantine Shareholders") held on July 25, 2019.
At the Meeting, Constantine Shareholders approved a plan of arrangement (the "Arrangement") involving the Company and its wholly owned subsidiary, HighGold ("HighGold"), pursuant to which the Company will spin-out its gold assets into HighGold. Following the Meeting, the Company was granted a final order from the Supreme Court of British Columbia approving the Arrangement.
Under the terms of the Arrangement, Constantine Shareholders of record at the close of business on July 31, 2019 will receive one common share of HighGold for every three common shares of Constantine held ("Constantine Shares"), subject to the "due bill" trading procedure described below. Completion of the Arrangement remains subject to the final approval of, and customary final filings with, the TSX Venture Exchange ("TSX-V") and is expected to close on August 1, 2019.
The TSX-V has advised that Constantine Shares will commence trading on a "due bill" basis effective from opening of markets on July 30, 2019 until and including August 1, 2019. Trades of Constantine Shares during this time will have a due bill attached which will allow the purchaser of Constantine Shares, rather than the seller of Constantine Shares, to receive the distribution of HighGold Shares pursuant to the Arrangement even if such trades are settled after the July 31, 2019 record date.
Effective at the opening of markets on August 2, 2019, the Constantine Shares will commence trading on an ex-distribution basis without any due bill entitlement, reflecting that the distribution of HighGold shares has occurred. The due bill redemption date will be August 6, 2019.