Business
Kootenay Silver and Kootenay Resources Announce Completion of Spin-Out Transaction
Kootenay Silver and Kootenay Resources Announce Completion of Spin-Out Transaction ...
About this update from Kootenay Silver Inc.
[{"type":"text","content":"\n \n \n \n Kootenay Silver and Kootenay Resources Announce Completion of Spin-Out Transaction\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 2, 2021\n \n /CNW/ - Kootenay Silver Inc. (\"\n \n Kootenay Silver\n \n \") (TSXV: KTN) and Kootenay Resources Inc. (\"\n \n Kootenay Resources\n \n \") are pleased to announce that the spin-out transaction whereby Kootenay Silver spun-out 80% of the common shares of Kootenay Resources (each, a \"\n \n Kootenay Resources Share\n \n \") to its shareholders by way of a share capital reorganization effected through a statutory plan of arrangement (the \"\n \n Arrangement\n \n \") was completed effective at\n \n 12:01 a.m.\n \n (\n \n Vancouver\n \n time) on\n \n October 29, 2021\n \n . Pursuant to the Arrangement, the holders of common shares of Kootenay Silver (each, an \"\n \n Old Kootenay Silver Share\n \n \") on\n \n October 28, 2021\n \n , received one new common share of Kootenay Silver (each, a \"\n \n New\n \n \n Kootenay Silver Share\n \n \") and 0.04 Kootenay Resources Shares for each Old Kootenay Silver Share previously held. The Old Kootenay Silver Shares were delisted from the TSX Venture Exchange (the \"\n \n TSXV\n \n \") at the close of business on\n \n October 28, 2021\n \n . The New Kootenay Silver Shares commenced trading on the TSXV at the market open on\n \n October 29, 2021\n \n . The CUSIP numbers of the New Kootenay Silver Shares and the Kootenay Resources Shares are 500583703 and 50058V107, respectively.\n \n \n \n \n \n \n \n \n \n For further details of the Arrangement, please refer to Kootenay Silver's management information circular dated\n \n August 12, 2021\n \n , which is filed on SEDAR under Kootenay Silver's profile. Those shareholders who are physically holding shares should complete their letter of transmittal.\n \n \n \n Early Warning Disclosure\n \n \n \n Kootenay Resources became a reporting issuer as a result of the Arrangement, and accordingly, Kootenay Silver is providing the following disclosure pursuant to National ...