Business
Silvermet Inc. Completes Business Combination
Silvermet Inc. Completes Business Combination.
About this update from Global Atomic Corporation
[{"type":"text","content":"\n\n\n\n\nTORONTO, July 10 /CNW/ - Silvermet Inc. (formerly \"Atikokan Resources\nInc.\") (TSX VENTURE: SYI (formerly AKN)) (the \"Company\") is pleased to\nannounce that the TSX Venture Exchange has accepted for filing the Company's\nreverse take-over (\"RTO\") with Silvermet Corporation (\"Silvermet\"), a private\nOntario corporation, all as principally described in the management\ninformation circular dated May 29, 2006.\n\nReverse Take-Over Completed\n---------------------------\nIn connection with the reverse take-over, the following transactions were\ncompleted:\n\n>\n\nAdditionally, 25,665,533 post-consolidation common shares, 3,383,333\nwarrants and 2,000,000 options are subject to a three-year escrow term, with\n10% releasing upon the date of the final Exchange bulletin and 15% releasing\nevery six months thereafter for three years.\n\nName Change and Symbol Change\n-----------------------------\nPursuant to a special resolution passed by the shareholders on June 29,\n2006, the Company has changed its name and stock symbol. Effective at the\nopening on July 10, 2006 the common shares of Silvermet Inc. will commence\ntrading on the TSX Venture Exchange. In addition, effective at the opening on\nJuly 10, 2006, the trading symbol for the Company will change from \"AKN\" to\n\"SYI\".\n\nNew Directors\n-------------\nThe Company's new directors are Clifford H. Frame, Stephen G. Roman,\nGeofrey Myers and F. Charles Vickers. Matthew Gaasenbeek will continue to\nserve on the board.\n\nPost Reverse Take-Over Capitalization\n-------------------------------------\nThe Company has authorized capital of an unlimited number of common\nshares of which 46,258,855 common shares are currently issued and outstanding.\nAdditionally, the Company has 9,549,999 warrants to purchase common shares,\n1,594,997 broker warrants and 4,360,000 options to purchase common shares\nissued and outstanding.\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\nor accuracy of this release.\n\nCertain information regarding the Company contained herein may constitute\nforward-looking information under applicable securities laws. Such statements\nare subject to known or unknown risks and uncertainties that may cause actual\nresults to differ materially from those anticipated or implied in the\nforward-looking statements. Important facto...