Constantine Metal Resources and American Pacific Mining Announce Securityholder Approval of the Plan of Arrangement at Special Meeting

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[{"type":"text","content":" VANCOUVER, British Columbia, Oct. 26, 2022 (GLOBE NEWSWIRE) -- American Pacific Mining Corp (CSE: USGD / FWB: 1QC / OTCQX: USGDF) (“American Pacific”) and Constantine Metal Resources Ltd. (“Constantine”) (TSXV: CEM) (OTCQX: CNSNF) announced today that Constantine’s Securityholders (as defined below) approved the previously announced acquisition of Constantine by American Pacific by way of a plan of arrangement (the “Arrangement”) at a special meeting of Securityholders held earlier today (the “Meeting”). The special resolution approving the Arrangement was approved by (i) 98.92% of the votes cast by Constantine’s shareholders (the “Constantine Shareholders”) present or represented by proxy at the Meeting; (ii) 98.99% of the votes cast by Constantine Shareholders and optionholders of Constantine (collectively, the “Securityholders”), voting as a single class, present or represented by proxy at the Meeting; and (iii) 98.71% of votes cast by Constantine Shareholders other than votes attached to Constantine shares required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. Under the terms of the Arrangement, Constantine Shareholders will receive 0.881 common shares in the capital of American Pacific for each Constantine share held (the “Consideration”). Information regarding the procedure for exchange of shares for Consideration is provided in Constantine’s management information circular dated September 22, 2022 related to the Meeting (the “Circular”). The Circular and accompanying letter of transmittal are available under Constantine’s profile on SEDAR at www.sedar.com and on Constantine’s website at https://constantinemetals.com/investors/investor-centre/. The Arrangement remains subject to approval of the Supreme Court of British Columbia (the “Court”) and the satisfaction or waiver of other customary conditions. The Court hearing for the final order to approve the Arrangement is currently scheduled to take place on October 27, 2022 and closing of the Arrangement is expected to close on or around October 31, 2022. Following completion of the Arrangement, Constantine shares are expected to be delisted from the TSX Venture Exchange. An application is also expected to be made for Constantine to cease to be a reporting issuer in the applicable jurisdictions f...

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