Business
Entree Resources and Mason Resources Announce Closing of Arrangement and Name Change
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 9, 2017) - Entrée Resources Ltd. (formerly Entrée Gold Inc.) (TSX:ETG)(NYSE MKT:EGI)(FRANKFURT:EKA) ("Entrée") a
About this update from Entree Resources Ltd
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 9, 2017) - Entrée Resources Ltd. (formerly Entrée Gold Inc.) (TSX:ETG)(NYSE MKT:EGI)(FRANKFURT:EKA) (\"Entrée\") and Mason Resources Corp. (TSX:MNR) (\"Mason\") are pleased to announce that they have closed their previously announced arrangement effective at 12:01 a.m. on May 9, 2017 (the \"Effective Time\"). Concurrent with the closing, Entrée has changed its name from Entrée Gold Inc. to Entrée Resources Ltd. (the \"Name Change\"). Arrangement Under the statutory plan of arrangement involving Entrée and Mason (\"Plan of Arrangement\"), the shareholders of Entrée received common shares of Mason (\"Mason Common Shares\") by way of a share exchange, pursuant to which each existing share of Entrée held at the Effective Time (an \"Entrée Common Share\") was exchanged for one \"new\" share of Entrée (\"New Entrée Common Share\") and 0.45 of a Mason Common Share. Stephen Scott, President and CEO of Entrée noted, \"I am extremely excited about the future for both companies. The Plan of Arrangement provides existing and potential shareholders with the flexibility to match the separated companies with their own specific investment strategies. Both companies offer attractive investment opportunities and I believe once they are better understood by the investing community, we could potentially see significant additional value surfaced for shareholders.\" The spin-out transaction remains subject to final acceptance from the Toronto Stock Exchange (the \"TSX\"). The TSX has conditionally approved the listing of the Mason Common Shares under the trading symbol \"MNR\". Mason will not be listed on the NYSE MKT or Frankfurt Stock Exchange. Name Change The Name Change was approved by shareholders of Entrée at the annual general and special meeting held on May 1, 2017, and Entrée will continue to trade under its existing ticker symbols ETG and EGI. The CUSIP number assigned following the name change is 29384J103 (ISIN: CA29384J1030). Common shares owned by shareholders of Entrée will automatically be adjusted as a result of the Name Change with no further action required to be taken by shareholders. Trading Information On or about Wednesday, May 10, 2017, it is anticipated the TSX will issue a bulletin in respect of the commencement of trading of the Mason Common Shares, under the symbol \"MNR\". W...