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Halcones Precious Metals Completes Qualifying Transaction and Announces Upcoming Listing Under Symbol “HPM”
TORONTO, ON, September 20, 2022 – Halcones Precious Metals Corp. (formerly, Pinehurst Capital II Inc.) (TSXV: HPM) (“Halcones” or the “Company”) announces that
About this update from Halcones Precious Metals Corp
[{"type":"text","content":"TORONTO, ON, September 20, 2022 – Halcones Precious Metals Corp. (formerly, Pinehurst Capital II Inc.) (TSXV: HPM) (“Halcones” or the “Company”) announces that it has completed its previously disclosed acquisition (the “Transaction”) of all of the issued and outstanding securities of Halcones Precious Metals Inc. (the “Target”), a private company incorporated under the laws of the Province of Ontario with mining assets located in Chile. Subject to receiving final approval from the TSX Venture Exchange (the “TSXV”), the Company Shares (as defined herein) are expected to commence trading on the TSXV under the ticker symbol “HPM” on or about September 22, 2022. A further press release will be issued by the Company in advance of commencement of trading. The Transaction constitutes the Company’s Qualifying Transaction (as defined by Policy 2.4 – Capital Pool Companies of the TSXV) and was completed according to the terms of an amalgamation agreement dated January 25, 2022, as amended (the “Amalgamation Agreement”) pursuant to which the Company acquired all of the issued and outstanding securities of the Target by way of a three-cornered amalgamation with a wholly-owned subsidiary of the Company under the laws of the Province of Ontario. In connection with the completion of the Transaction, the TSXV has conditionally approved the listing of the Company Shares. Prior to the completion of the Transaction, the Company: (i) completed a consolidation of its issued and outstanding common shares (“Company Shares”) on the basis of 0.4716981 postconsolidation Company Share for every one pre-consolidation Company Share (the “Consolidation”); and (ii) changed its name from “Pinehurst Capital II Inc.” to “Halcones Precious Metals Corp.”. Pursuant to the Amalgamation Agreement, the issued and outstanding common shares of the Target (“Target Shares”) were exchanged for Company Shares on a 1:1 basis in connection with the Transaction. Pursuant to the Transaction: (i) an aggregate of 87,557,114 post-Consolidation Company Shares were issued in exchange for the outstanding Target Shares (which includes the Target Shares issued upon the conversion of Target Subscription Receipts, as defined herein); and (ii) warrants exercisable to acquire 8,122,121 Company Shares (the “Company Warrants”) were issued in exchange for the outstanding Target Sh...