Business
Eureka Announces Special Meeting Results
Vancouver, British Columbia--(Newsfile Corp. - July 24, 2018) - Eureka Resources, Inc. (TSXV: ...
About this update from Kore Mining Ltd.
[{"type":"text","content":"Eureka Announces Special Meeting ResultsVancouver, British Columbia--(Newsfile Corp. - July 24, 2018) - Eureka Resources, Inc. (TSXV: EUK) (\"Eureka\" or the \"Company\") is pleased to announce the results of the shareholder meetings held by the Company and Kore Mining Ltd. (\"Kore\") on July 23, 2018, at which shareholders of Kore and Eureka approved the transactions contemplated by the amalgamation agreement dated February 24, 2018 (the \"Agreement\") between the Company and Kore, a private British Columbia corporation based in Vancouver, BC. Pursuant to the terms of the Agreement, Eureka has agreed to acquire all of the outstanding common shares of Kore in exchange for the issuance of common shares of Eureka by way of a three-cornered amalgamation among Kore, the Company and a wholly-owned subsidiary of the Company (the \"Transaction\"). The Transaction will result in the reverse takeover of Eureka by Kore.The shareholders of Eureka and Kore also approved all other matters to be approved at the respective shareholders' meetings, as outlined in the Joint Information Circular dated June 22, 2018 (the \"Information Circular\"), including, among other things, an amendment to Eureka's notice of articles to remove the pre-existing company provisions, the adoption of a new stock option plan by Eureka (a copy of which is included in the Information Circular), and the appointment of new directors of Kore. A copy of the Information Circular is available under Eureka's profile on SEDAR at www.sedar.com.Several matters remain outstanding and must be completed before the closing of the Transaction can occur, includingcompletion of a valuation report which discusses the value of Kore;receipt of the approval of the TSX Venture Exchange (the \"TSXV\"); andcompletion of a private placement by Eureka for minimum gross proceeds of $2,250,000.Kore, indirectly through its wholly-owned U.S. subsidiaries, owns 100% interests in the Imperial and Long Valley gold development projects, located in California, USA (together, the \"Projects\"). The Projects comprise development stage (and historic feasibility stage) assets with over 141,225 metres of historic drilling. About KoreKore is a development stage company that offers exposure to precious metals exploration and development in North America, with a corporate strategy focused on the identification ...