Business
Tudor Gold and Goldstorm Metals Announce Closing Date of Spin-out Arrangement and Listing Date of Goldstorm Metals
Vancouver, British Columbia--(Newsfile Corp. - November 7, 2022) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) ("Tudor Gold" or the "Company") and Goldstorm Metals
About this update from Goldstorm Metals Corp.
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - November 7, 2022) - Tudor Gold Corp. (TSXV: TUD) (FSE: TUC) (\"Tudor Gold\" or the \"Company\") and Goldstorm Metals Corp. (TSXV: GSTM) (\"Goldstorm\") are pleased to announce that the parties anticipate closing its previously announced spin-out arrangement transaction, by way of a court-approved statutory plan of arrangement under the Business Corporations Act (British Columbia), (the \"Arrangement\") on or about November 10, 2022. Subject to the approval of the TSX Venture Exchange (the \"TSXV\"), the common shares of Goldstorm (the \"Goldstorm Shares\") are anticipated to be listed for trading under the ticker symbol \"GTSM\" at the close of business on November 10, 2022, and immediately halted pending closing of the Arrangement. The Goldstorm Shares are expected to resume trading on or about November 11, 2022, subject to TSXV approval. In accordance with the Arrangement, among other things: Tudor Gold shareholders on record as of November 10, 2022, will receive approximately 0.251 of a Goldstorm Share for every one common share of Tudor Gold (a \"Tudor Gold Share\") held; and Goldstorm will acquire the six contiguous mineral properties located in the Golden Triangle Area in northwestern British Columbia in consideration for Goldstorm issuing 49,847,967 Goldstorm Shares to the Tudor Gold shareholders. As a result of the Arrangement, Goldstorm will cease to be a wholly-owned subsidiary of Tudor Gold and the Tudor Gold shareholders became shareholders of Goldstorm. Tudor Gold will retain its remaining assets and working capital and will continue as a precious and base metals exploration and development company. The Tudor Shareholders registered as of November 10, 2022, will receive, or have already received, a letter of transmittal (each a \"Letter of Transmittal\") with information on how to surrender their respective share certificates or DRS statement(s) representing their pre-Arrangement Tudor Gold Shares to the Company's transfer agent, Computershare Investor Services Inc. (\"Computershare\"). All Tudor Gold shareholders who submit a duly completed Letter of Transmittal along with their respective share certificate(s) or DRS statement(s) representing the pre-Arrangement Tudor Gold Shares to Computershare will receive a certificate or DRS statement(s), as applicable, represent...