Business
Silver Fern Financial Ltd., Emedia Networks International Corporation - Completion of Amalgamation
Silver Fern Financial Ltd., Emedia Networks International Corporation - Completion of Amalgamation.
About this update from Giyani Metals Corp
[{"type":"text","content":"\n\n\n\nCALGARY, May 27 /CNW/ - Silver Fern Financial Ltd. ("Silver Fern")\n(trading symbol "SFL.P" TSXV) and Emedia Networks International Corporation\n("Emedia") (trading symbol "EMM" TSXV) are pleased to announce that they\ncompleted the business combination previously announced on March 8, 2007 (the\n"Transaction") as Silver Fern has amalgamated with 1313943 Alberta Ltd. (a\nwholly owned subsidiary of Emedia) (the combined entity hereinafter referred\nto as the "Resulting Issuer"). The arm's length Transaction constitutes Silver\nFern's "Qualifying Transaction" under the applicable policies of the TSX\nVenture Exchange.\n\n\nPursuant to the Transaction holders of all of the issued and outstanding\ncommon shares of Silver Fern ("Silver Fern Shares") will receive common shares\nof the Resulting Issuer ("Resulting Issuer Shares") on the basis of one\nResulting Issuer Share for each Silver Fern Share held. Letters of\ntransmittals regarding this exchange were provided to Silver Fern shareholders\nwith Silver Fern's notice of meeting and information circular mailed to\nshareholders of record on April 30, 2007. The Silver Fern Shares will be\ndelisted from trading. For further information regarding the Transaction\nplease see the Information Circular of Silver Fern dated April 30, 2007\navailable on www.sedar.com.\n\n\nManagement\n\n\nMr. Gilbert Murray has resigned from the board of directors of the\nResulting Issuer while Mr. David Mears and Mr. Gordon Anderson have been\nappointed to the board of directors.\n\n\nStock Options\n\n\nIn conjunction with the Transaction, the Resulting Issuer repriced\n270,000 options to purchase Resulting Issuer Shares previously granted to\nofficers of Emedia with an exercise price of $0.10 per Resulting Issuer Share\nsuch that these options now have an exercise price of $0.25 per Resulting\nIssuer Share. Additionally, the Resulting Issuer granted an additional\n1,480,000 options to directors and officers of the Resulting Issuer with an\nexercise price of $0.25 per Resulting Issuer Share and an expiry date of\nMay 25, 2012. Further, former directors of Silver Fern retained a total of\n150,000 options with an exercise price of $0.20 per Resulting Issuer Share and\nan expiry date of August 25, 2007 and Gordon A...