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Canuc Resources Corp. and Macdonald Mines Exploration Inc. Provide Time Sensitive and Critical Supplemental Information to Special Meeting Information Circular Regarding Proposed Acquisition Transaction
Toronto, Ontario--(Newsfile Corp. - March 26, 2025) - Canuc Resources Corporation (TSXV: CDA...
About this update from Canuc Resources Corporation
[{"type":"text","content":"Canuc Resources Corp. and Macdonald Mines Exploration Inc. Provide Time Sensitive and Critical Supplemental Information to Special Meeting Information Circular Regarding Proposed Acquisition TransactionToronto, Ontario--(Newsfile Corp. - March 26, 2025) - Canuc Resources Corporation (TSXV: CDA) (OTCQB: CNUCF) (\"Canuc\") and Macdonald Mines Exploration Inc. (TSXV: BMK) (OTC Pink: MCDMF) (\"Macdonald Mines\" or the \"Company\") would like to update shareholders (\"Shareholders\") of Macdonald Mines and provide certain supplemental information with respect to the previously announced transaction with Canuc (see press releases of December 3, 2024 and February 13, 2025).The MeetingThe special meeting of Company Shareholders (the \"Meeting\") is scheduled to be held on March 31, 2025 at 10am (Vancouver time) to approve a statutory arrangement (\"Arrangement\") under section 192 of the Business Corporations Act (Canada) which involves, among other things, the indirect acquisition by Canuc of all of the common shares of the Company (the \"Transaction\"). Due to the additional information provided by the Company in this news release, the Company will accept proxies up to 8 AM (Vancouver time) on March 31, 2025, or any adjournment or postponement of the Meeting. A shareholder that has already given a proxy may revoke it at any time before the proxy is exercised by following the steps detailed in the Company's management information circular dated February 19, 2025 (\"Circular\"). All other details of the Meeting and the Arrangement are as set forth in the Circular, available under the Company's SEDAR+ profile.Supplemental Information Regarding Macdonald MinesThe Circular provides disclosure regarding the consulting agreement between Macdonald Mines and its CFO, Fiona Fitzmaurice. Macdonald Mines wishes to clarify that, pursuant to that agreement, Ms. Fitzmaurice is entitled to termination pay in an amount of $120,000 only if her position as CFO is terminated upon a \"change of control\" transaction having been completed, and that Ms. Fitzmaurice is not already entitled to such payment. Macdonald Mines also wishes to clarify that all stock options granted to Ms. Fitzmaurice have already vested to her.As such, Macdonald Mines confirms that there is no \"collateral benefit\", as such term is defined under Multilateral Instrument 61-101...