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Kootenay Silver Announces Effective Date of Spin-Out Transaction
Kootenay Silver Announces Effective Date of Spin-Out Transaction PR Newswire ...
About this update from Kootenay Silver Inc.
[{"type":"text","content":"\n \n \n \n Kootenay Silver Announces Effective Date 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 PR Newswire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Oct. 27, 2021\n \n /PRNewswire/ - Kootenay Silver Inc. (\"\n \n Kootenay\n \n \" or the \"\n \n Company\n \n \") (TSXV: KTN) is pleased to announce that further to its press releases dated\n \n August 10, 2021\n \n and\n \n September 17, 2021\n \n , the Company intends to make the previously announced spin-out transaction of the Company effective at\n \n 12:01 a.m.\n \n (\n \n Vancouver\n \n time) on\n \n October 29, 2021\n \n (the \"\n \n Effective Date\n \n \"). The Company has received a final order from the Supreme Court of\n \n British Columbia\n \n dated\n \n September 21, 2021\n \n , and shareholder approval pursuant to an annual and special meeting of the Company held on\n \n September 15, 2021\n \n , to implement the spin-out of 80% of the Company interest in mineral exploration assets located in\n \n Canada\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 \") with Kootenay Resources Inc. (\"\n \n Spinco\n \n \"), a wholly-owned subsidiary of the Company. Pursuant to the Arrangement, the holders of common shares of the Company on\n \n October 28, 2021\n \n will receive one new common share of the Company (each, a \"\n \n Kootenay Silver Share\n \n \") and 0.04 common shares of Spinco (each, a \"\n \n Spinco Share\n \n \"). The existing common shares of the Company are expected to be 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 Kootenay Silver Shares are expected to commence trading on the TSXV at the market open on\n \n October 29, 2021\n \n . The CUSIP numbers of the Kootenay Silver Shares and the Spinco Shares will be 500583703 and 50058V107, respectively.\n \n \n \n \n \n \n \n \n \n Computershare Investor Services Inc. (\"\n \n Computershare\n \n \") will forward replacement share certifica...