NSGOLD CORPORATION ("NSX")
BULLETIN TYPE: Delist
BULLETIN DATE: February 25, 2022
TSX Venture Tier 2 Company
Further to NSGold Corporation's ("NSGold"; the "Company") news releases dated December 23, 2021, January 17, 2022 and February 15, 2022, the common shares of the Company will be delisted from TSX Venture Exchange effective at the close of business on Tuesday, March 1, 2022.
The delisting of the Company's common shares results from the completion of an acquisition agreement dated December 22, 2021 and related agreements with 13611647 Canada Limited (the "Purchaser"), a newly-incorporated wholly-owned subsidiary of Atlantic Mining NS Inc. ("Atlantic"), whereby Atlantic will acquire all of the issued and outstanding shares of NSGold at a price of $0.40 per share in cash. The transaction will be effected by way of an amalgamation of NSGold and the Purchaser under the Canada Business Corporations Act (the "Amalgamation") to form an amalgamated corporation ("Amalco"). Under the Amalgamation, each issued and outstanding common share of NSGold will be exchanged for one redeemable preferred share of Amalco, which will immediately be redeemed for $0.40 cash per share. The total consideration is approximately $7.9 million.
The arrangement was approved by the Company's shareholders at a special shareholders' meeting held on February 15, 2022.
For more information, please consult the Company's Management Information Circular dated January 11, 2022, which is available on SEDAR.
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