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ScoZinc Reminds Securityholders to Vote in Favour of Proposed Business Combination at its April 12, 2021 Extraordinary General Meeting
Halifax, Nova Scotia--(Newsfile Corp. - April 1, 2021) - ScoZinc Mining Ltd. ( TSXV: SZM ) (" ...
About this update from Edm Resources Inc
[{"type":"text","content":"ScoZinc Reminds Securityholders to Vote in Favour of Proposed Business Combination at its April 12, 2021 Extraordinary General MeetingHalifax, Nova Scotia--(Newsfile Corp. - April 1, 2021) - ScoZinc Mining Ltd. (TSXV: SZM) (\"ScoZinc\" or the \"Company\") reminds holders of its common shares, options, warrants and RSUs (the \"ScoZinc Securityholders\") of the extraordinary general meeting of ScoZinc Securityholders to be held on April 12, 2021 (the \"EGM\"), at which the ScoZinc Securityholders will be asked to consider and, if thought advisable, pass a special resolution approving a plan of arrangement under Section 288 of the BC Business Corporations Act (the \"Arrangement\") which will result in ScoZinc becoming a wholly owned subsidiary of Fancamp Exploration Ltd. (\"Fancamp\") by amalgamating with an existing wholly owned subsidiary of Fancamp (the \"Transaction\"). The Transaction was announced by ScoZinc in a news release dated February 18, 2021, and full particulars of the EGM and the Transaction are contained in a Notice of Meeting and Management Information Circular (the \"Circular\") filed under ScoZinc's profile at www.sedar.com and which was mailed to ScoZinc Securityholders of record as of March 10, 2021.ScoZinc's President and CEO, Mr. Mark Haywood, commented: \"We believe the Transaction will facilitate financing of the Scotia Mine, and we are excited to join with Fancamp in bringing the Scotia Mine into production in the near-term. The Board and Management of ScoZinc look forward to receiving ScoZinc Securityholders' approval for the Transaction, at the upcoming EGM on April 12, 2021.\"The TransactionUnder the Transaction, the ScoZinc shareholders will receive 6.0 common shares of Fancamp (each whole share a \"Fancamp Share\") for every ScoZinc common share held (the \"Exchange Ratio\"). Upon the closing of the Transaction, former shareholders of ScoZinc will hold 33.7% of the Fancamp's common shares outstanding. The Exchange Ratio represents a premium of 5.9% based on the 30-day volume weighted average price of ScoZinc and Fancamp's shares traded on the TSX Venture Exchange for the period ended February 12, 2021. Upon closing of the Transaction: (i) all outstanding stock options of ScoZinc will be exchanged for options to purchase Fancamp Shares based on the Exchange Ratio and will expire twelve months after th...