TSX VENTURE COMPANIES
ADVANTAGE LITHIUM CORP. ("AAL")
BULLETIN TYPE: Plan of Arrangement-, Delist
BULLETIN DATE: April 20, 2020
TSX Venture Tier 1 Company
TSX Venture Exchange Inc. (the "Exchange") has accepted for filing documentation in connection with an arrangement agreement dated February 18, 2020 (the "Agreement") between Advantage Lithium Corp. ("Advantage") and Orocobre Limited ("Orocobre").
Pursuant to the Agreement, Orocobre acquired from the shareholders of Advantage ("Advantage Shareholders") all of the issued and outstanding common shares of Advantage ("Advantage Shares") that it did not already own for consideration of 0.142 of an ordinary share of Orocobre (each whole ordinary share of Orocobre, an "Orocobre Share") in respect of each Advantage Share held. In addition, (i) each outstanding option to acquire Advantage Shares ("Options") was assigned and transferred to Advantage in exchange for the issuance of such number of Orocobre Shares as was equivalent in value to the amount the consideration issued in respect of an Advantage Share exceeded the exercise price of such Option and (ii) each outstanding Advantage restricted share unit ("RSU") was redeemed in exchange for the issuance to each holder thereof of such number of Orocobre Shares as was equal to the consideration to which such holder would have been entitled had such RSUs been redeemed for Advantage Shares.
The Exchange has been advised that approval of the arrangement (the "Arrangement") by Advantage Shareholders was received at an annual general and special meeting of Advantage Shareholders held on April 14, 2020 and that approval of the Arrangement was received from the Supreme Court of British Columbia on April 16, 2020. The full particulars of the Arrangement are set forth in Advantage's Management Information Circular dated March 13, 2020, which is available under Advantage's profile on SEDAR.
Advantage and Orocobre closed the Arrangement on April 17, 2020.
Delisting:
In conjunction with the closing of the Arrangement, Advantage has requested that the Advantage Shares be delisted. Accordingly, effective at the close of business, Tuesday, April 21, 2020, the Advantage Shares will be delisted from the Exchange.
Insider / Pro Group Participation: Orocobre held approximately 34.7% of the issued and outstanding Advantage Shares prior to the transaction.
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