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BCM Signs Amalgamation Agreement to Acquire 100% Interest in Thompson Knolls Project in Utah, USA
VANCOUVER, BC / ACCESSWIRE / December 16, 2022 / BCM Resources Corp ("BCM") (TSXV:B), further to...
About this update from Bcm Resources Corporation
[{"type":"text","content":"BCM Signs Amalgamation Agreement to Acquire 100% Interest in Thompson Knolls Project in Utah, USAVANCOUVER, BC / ACCESSWIRE / December 16, 2022 / BCM Resources Corp (\"BCM\") (TSXV:B), further to its news release dated September 15, 2022, is pleased to announce that this morning it has entered into a definitive amalgamation agreement (the \"Agreement\") for the arm's length acquisition of all of the issued and outstanding shares of Inland Explorations Ltd. (\"Inland\"), a private British Columbia company, to consolidate a 100% ownership interest in BCM's flagship Thompson Knolls (\"TK\") Cu-Au-Mo porphyry project in the southwestern part of Utah, USA (the \"Transaction\").\"This acquisition of Inland consolidates 100% ownership of BCM's flagship Thompson Knolls asset. BCM shareholders are poised to benefit from a simplified ownership structure as we aggressively explore the large porphyry target at TK\" says Dr. Sergei Diakov, President & Director of BCM.Pursuant to the terms of the Agreement, both Inland and the Company will complete an arm's length business combination transaction by way of amalgamation (the \"Amalgamation\") under the Business Corporations Act (British Columbia) to continue as a new company, BCM Resources Corporation (the \"Resulting Issuer\"). Each common share in the capital of the Company (the \"BCM Shares\") that is outstanding immediately prior to the Amalgamation (other than BCM Shares held by shareholders of BCM (the \"BCM Shareholders\") who exercise their dissent rights) shall be converted into one (1) issued and fully paid and non-assessable common share in the capital of the Resulting Issuer (the \"Resulting Issuer Shares\"). Each common share in the capital of Inland (the \"Inland Shares\") that is outstanding immediately prior to the Amalgamation (other than Inland Shares held by shareholders of Inland (the \"Inland Shareholders\") who exercise their dissent rights) shall be converted into 3.1137 issued and fully paid and non-assessable Resulting Issuer Share at a deemed price of $0.125 per Resulting Issuer Share. In addition, the Company will exchange all of its currently outstanding share purchase warrants and incentive stock options for the Resulting Issuer warrants and options on a 1:1 basis, and a total of 2,050,000 currently outstanding Inland incentive stock options for the Resulting I...