Red Lake Gold completes Alma Gold spinout
2020-11-06 14:12 ET - News Release
Mr. Ryan Kalt reports
RED LAKE GOLD INC. ANNOUNCES CLOSING OF ALMA GOLD INC. SPIN-OUT TRANSACTION
Red Lake Gold Inc. has closed its previously announced spinout transaction with respect to Alma Gold Inc. (see also Red Lake Gold news release dated Nov. 3, 2020).
The spinout transaction was completed by way of a statutory plan of arrangement pursuant to Section 288 of the Business Corporations Act (British Columbia), involving Red Lake Gold, Alma Gold and the shareholders of Red Lake Gold.
Pursuant to the arrangement, common shares of Red Lake Gold outstanding immediately prior to the completion of the arrangement will be redesignated as Class A common shares, which will be subsequently exchanged for (i) one new common share of Red Lake Gold and (ii) 0.95 of an Alma Gold share for each Red Lake Gold share held before the effective date of the transaction. Outstanding warrants and options of Red Lake Gold held before the effective date of the transaction are also adjusted pursuant to the arrangement as more fully described in the information circular dated Sept. 4, 2020.
The Red Lake Gold shares will be delisted from the Canadian Securities Exchange effective as of the close of business on Friday, Nov. 6, 2020. The new Red Lake Gold shares will be listed for trading on the exchange effective as of market opening on Monday, Nov. 9, 2020, under the same trading symbol as the Red Lake Gold shares (RGLD). Alma Gold will be a privately held reporting issuer following the closing of the transaction.
Red Lake Gold has been advised by Alma Gold that Alma Gold intends to pursue a listing on a Canadian securities market subsequent to closing of the arrangement.
For additional details on the arrangement, shareholders may consult the circular, which is available for review under the corporation's SEDAR profile.
We seek Safe Harbor.
www.stockwatch.com/News/Item/?bid=Z-C:RGLD-2985695
2020-11-06 14:12 ET - News Release
Mr. Ryan Kalt reports
RED LAKE GOLD INC. ANNOUNCES CLOSING OF ALMA GOLD INC. SPIN-OUT TRANSACTION
Red Lake Gold Inc. has closed its previously announced spinout transaction with respect to Alma Gold Inc. (see also Red Lake Gold news release dated Nov. 3, 2020).
The spinout transaction was completed by way of a statutory plan of arrangement pursuant to Section 288 of the Business Corporations Act (British Columbia), involving Red Lake Gold, Alma Gold and the shareholders of Red Lake Gold.
Pursuant to the arrangement, common shares of Red Lake Gold outstanding immediately prior to the completion of the arrangement will be redesignated as Class A common shares, which will be subsequently exchanged for (i) one new common share of Red Lake Gold and (ii) 0.95 of an Alma Gold share for each Red Lake Gold share held before the effective date of the transaction. Outstanding warrants and options of Red Lake Gold held before the effective date of the transaction are also adjusted pursuant to the arrangement as more fully described in the information circular dated Sept. 4, 2020.
The Red Lake Gold shares will be delisted from the Canadian Securities Exchange effective as of the close of business on Friday, Nov. 6, 2020. The new Red Lake Gold shares will be listed for trading on the exchange effective as of market opening on Monday, Nov. 9, 2020, under the same trading symbol as the Red Lake Gold shares (RGLD). Alma Gold will be a privately held reporting issuer following the closing of the transaction.
Red Lake Gold has been advised by Alma Gold that Alma Gold intends to pursue a listing on a Canadian securities market subsequent to closing of the arrangement.
For additional details on the arrangement, shareholders may consult the circular, which is available for review under the corporation's SEDAR profile.
We seek Safe Harbor.
www.stockwatch.com/News/Item/?bid=Z-C:RGLD-2985695
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