VMS VENTURES INC. VMSTF

VMS shareholders approve Royal Nickel arrangement

[mrsgoldminer]

 

VMS shareholders approve Royal Nickel arrangement

 

2016-04-25 16:37 ET - News Release

Also News Release (C-RNX) Royal Nickel Corp

Mr. John Roozendaal of VMS Ventures reports

VMS ANNOUNCES SHAREHOLDER APPROVAL FOR PLAN OF ARRANGEMENT

VMS Ventures Inc.'s shareholders have approved a previously announced plan of arrangement with Royal Nickel Corp. at a special meeting of shareholders of VMS held today in Vancouver, B.C. Of a total of 80,146,410 shares represented at the meeting (being 54.71 per cent of the total issued and outstanding share capital), 93 per cent were voted in favour of the plan of arrangement. Also, due to the large number of shareholders electing the RNC share option (as defined under the plan of arrangement), those shareholders will receive RNC shares at a rate of 0.392 of a RNC share per VMS share for 62.9 per cent of their VMS shares, and cash at a rate of 6.4 cents per VMS share for the remaining 37.1 per cent of their VMS shares. There is no adjustment to the exchange consideration to be provided to those shareholders who elected the cash option or the full proration option (as those terms are defined under the plan of arrangement).

Additionally, on April 15, 2016, the board of directors of VMS declared a dividend in kind, pursuant to which shareholders of VMS as of April 26, 2016, will receive, on a pro rata basis, 29,978,393 common shares of North American Nickel Inc. currently held by the company.

© 2016 Canjex Publishing Ltd. All rights reserved.

[wintersun10]

wow, what a pathetic end for this stock............not even enough RNC shares. what a joke........can you say rip off?

[LongonZinc]

Yep, I can say rip-off, been saying it more or less since the discovery.

[colt45acp]

I say RNX drops to .30 - .40.  AFTER SO CALLED DEAL.JMO.

[scluri]

This is a huge loss to me. I have about 275 K VMS shares. Bought these at average of about 30 cents. Now, the loss is almost about 50% or more. I am thinking of writing to OSC on this. How this whole thing is pulled off? I need clarification on this entire process. scluri