Business
Deeprock Minerals Announces Arrangement Agreement, Information Circular and Technical Reports for Spin-Off and Reverse Takeover with Allied Critical Metals
Vancouver, British Columbia – October 29, 2024 – Deeprock Minerals Inc. (the "Company" or "Deeprock") (CSE Symbol: DEEP), is pleased to announce that further to
About this update from Allied Critical Metals Inc.
[{"type":"text","content":"Vancouver, British Columbia – October 29, 2024 – Deeprock Minerals Inc. (the \"Company\" or \"Deeprock\") (CSE Symbol: DEEP), is pleased to announce that further to its news release dated June 14, 2024 it has entered into the definitive agreement signed October 23, 2024 with effect as of September 30, 2024 (the \"Arrangement Agreement\") with Allied Critical Metals Corp. (\"ACM\" or \"Allied Critical Metals\"). In addition, the Company has also (1) obtained an interim court order (the \"Interim Court Order\") for approval of the plan of arrangement (the \"Arrangement\") under the Arrangement Agreement; (2) called an annual general and special meeting of shareholders on Thursday November 21, 2024 at 10:00am (Pacific Time) (the \"Meeting\") to approve the Arrangement and other annual general and special business as more particularly set out in the Company's management information circular dated October 23, 2024 (the \"Circular\"); and (3) publicly filed the technical reports in respect of ACM's two tungsten mineral properties, including the maiden mineral resource estimate for the Borralha Tungsten Project. Highlights Arrangement Agreement signed for Deeprock's consolidation and name change, spin-out, reverse takeover amalgamation, and continuation to Cayman. Interim Court Order obtained on October 21, 2024. Meeting called on November 21, 2024 at 10:00 am (Pacific Time) to approve Arrangement and other annual general and special business. Circular describing the Arrangement and business of the Meeting being delivered to Deeprock security holders. Filed technical reports for ACM's two tungsten properties, including the maiden mineral resource estimate of the Borralha Tungsten Project. The Arrangement Agreement provides the general terms and conditions of the spin-out transaction of Deeprock and subsequent reverse takeover of the Company by ACM (the \"Transaction\") under the Arrangement, pursuant to the policies of the Canadian Securities Exchange (the \"Exchange\") and applicable securities laws. The Company received its Interim Order of the British Columbia Supreme Court (the \"Court\") in respect of the Arrangement on October 21, 2024. Assuming approval of the Arrangement at the Meeting on November 21, 2024, the Company will seek a final order of the Court for approval of the Arrange...