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KORE Mining Announces Receipt of Interim Order and Filing of Management Information Circular for Special Meeting to Approve the Spin-Out of Karus Gold
KORE Mining Announces Receipt of Interim Order and Filing of Management Information Circu...
About this update from Kore Mining Ltd.
[{"type":"text","content":"\n \n \n \n KORE Mining Announces Receipt of Interim Order and Filing of Management Information Circular for Special Meeting to Approve the Spin-Out of Karus Gold\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 Dec. 23, 2020\n \n /CNW/ - KORE Mining Ltd. (TSXV: KORE) (OTCQX: KOREF) (\"\n \n KORE\n \n \" or the \"\n \n Company\n \n \") is pleased to announce that it has obtained an interim order from the Supreme Court of\n \n British Columbia\n \n for its previously announced proposed plan of arrangement (the \"\n \n Arrangement\n \n \"), pursuant to which the Company plans to transfer all of its\n \n British Columbia\n \n gold exploration assets (\"\n \n Spin-out\n \n \") into Karus Gold Corp. (\"\n \n Karus\n \n \" or \"\n \n \n Karus Gold\n \n \n \").\n \n \n \n \n \n \n \n \n \n The Company has also filed the management information circular (the \"\n \n Circular\n \n \") and related materials for the special meeting of the KORE shareholders (the \"\n \n Meeting\n \n \") to be held on\n \n January 20, 2021\n \n under its profile on SEDAR and on the Company's website at\n \n www.koremining.com/specialmeeting\n \n .\n \n \n As previously announced in the Company's press release dated\n \n \n December 16, 2020\n \n \n , shareholders of the Company will consider and vote on the approval of the Spin-out.  To be effective, the Spin-out must be approved by a special resolution passed by: (a) at least 66⅔% of the votes cast by KORE shareholders present or represented by proxy at the Meeting and (b) a majority of the votes cast by shareholders in person or represented by proxy at the Meeting, after excluding the votes cast by those shareholders whose votes are required to be excluded in accordance with Multilateral Instrument 61-101 –\n \n Protection of Minority Security Holders in Special Transactions\n \n (\"\n \n MI 61-101\n \n \").  Each shareholder is entitled to one vote for each KORE common share held.\n \n \n 2176423 Ontario Ltd. (a corporation beneficially controlled by ...