Business
Northern Sun Announces Shareholder Approval for Arrangement
TORONTO, ON / ACCESSWIRE / March 24, 2016 / Northern Sun Mining Corp. (TSXV: NSC) (the " Com...
About this update from Electric Metals Usa Limited
[{"type":"text","content":"Northern Sun Announces Shareholder Approval for ArrangementTORONTO, ON / ACCESSWIRE / March 24, 2016 / Northern Sun Mining Corp. (TSXV: NSC) (the \"Company\" or \"Northern Sun\") is pleased to announce that it has obtained approval of its shareholders for the proposed arrangement (the \"Arrangement\") between the Company and Regal Silver Investments Ltd. (the \"Purchaser\"). Pursuant to the Arrangement, the Purchaser will, subject to court approval and the approval of the TSX Venture Exchange (the \"Exchange\"), acquire all of the Company's common shares (the \"Shares\") held by minority shareholders (i.e. all shareholders other than Jien International Investment Ltd. (\"JIIL\")) at the offer price equal to the $0.07 per Share.\nAs previously announced, the Company held a special meeting of shareholders (the \"Meeting\") today on Thursday, March 24, 2016 at 10:00 a.m. (Vancouver time) at 700 - 595 Burrard Street, Vancouver, B.C. during which the shareholders of the Company approved the Arrangement by special resolution as well as with a majority of the minority shareholders. The voting results of the Meeting are summarized below:\n\n \n \n Approval by Special Resolution \n \n \n FOR: \n 98.43% \n \n \n AGAINST: \n 1.57% \n \n \n\n \n\n \n \n Approval of a Majority of the Minority Shareholders \n \n \n FOR: \n 90.65% \n \n \n AGAINST: \n 9.35% \n \n \n\nAssuming it receives court approval and the Arrangement is completed, the Company will apply to have the Shares delisted from the Exchange and it will also apply to the applicable Canadian securities regulatory authorities to cease to be a reporting issuer in each province in which it is currently a reporting issuer.\nFor further information:\nPlease visit our website at www.northernsunmining.ca; follow us on Facebook, LinkedIn or Twitter @NorthernSunMine; or contact:\nJames Xiang\nInterim President and Chief Executive Officer\nNorthern Sun Mining Corp. Tel: 647-494-3811\nEmail: [email protected]\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.\nThis communication does not constitute an offer to purchase or exchange or the solicitation of an offer to sell or exchange any securities of Northern Sun, nor shall there be a...