SUN METALS CORP. ("SUNM")
BULLETIN TYPE: Amalgamation
BULLETIN DATE: April 11, 2019
TSX Venture Tier 2 Company
Pursuant to an arrangement agreement (the "Agreement") dated February 1, 2019 and a final court order dated April 10, 2019 issued by the Supreme Court of British Columbia, the Company and Lorraine Copper Corp. ("Lorraine") will complete a plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement"). Pursuant to the Arrangement, which is intended to close April 12, 2019, the Company will acquire all of the issued and outstanding shares of Lorraine in exchange for the Company issuing to Lorraine shareholders 0.54 common shares of the Company (each a "Share") for each Lorraine share held (the "Exchange Ratio"). Upon closing of the Arrangement: (i) all outstanding stock options of Lorraine will be exchanged for options to purchase Shares on the basis of the Exchange Ratio; and (ii) all unexercised Lorraine share purchase warrants will be exchanged for warrants to purchase Shares on the basis of the Exchange Ratio and will expire in accordance with their current expiry dates.
Lorraine shares are expected to be delisted from the Exchange at close of market on April 12, 2019.
Post - Transactions:
Capitalization: unlimited common shares with no par value of which
107,548,612 common shares are issued and outstanding
Escrow: Nil common shares subject to escrow
Transfer Agent: Computershare Investor Services Inc.
Trading Symbol: SUNM (unchanged)
CUSIP Number: 86681L108 (unchanged)
For further information please refer to the Company's news release dated February 4, 2019.
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