Business
Dacha mails information circular for annual and special meeting of shareholders
TORONTO , July 18, 2014 /CNW/ - Dacha Strategic Metals Inc. (TSX-V: DSM) ("Dacha") announ...
About this update from Koryx Copper S.a.
[{"type":"text","content":"\n\nTORONTO, July 18, 2014 /CNW/ - Dacha Strategic Metals Inc. (TSX-V: DSM) (\"Dacha\") announced today that it has mailed a management information circular (the \"Circular\") to shareholders in connection with the annual and special meeting of shareholders to be held August 11, 2014 (the \"Meeting\"). A copy of the Circular is also available on SEDAR at www.sedar.com.\n\nAt the Meeting, shareholders will be asked to consider, among other things, resolutions relating to:\n\n\nthe previously announced transaction pursuant to which Merus Labs International Inc. (\"Merus\") (TSX: MSL, NASDAQ: MSLI) will acquire from Dacha, in exchange for common shares of Merus (\"Merus Shares\") priced at $1.70 per share, a new subsidiary to be incorporated by Dacha (\"Newco\") and to which Dacha will contribute a minimum of $6 million cash by way of equity subscriptions (the \"Newco Sale\"); and \nif the Newco Sale is approved, a proposed share capital reorganization to be implemented immediately following the Newco Sale (the \"Share Capital Reorganization\") that would result in all of Dacha's outstanding common shares being redeemed in exchange for Merus Shares.\nIf the Newco Sale and the Share Capital Reorganization receive the requisite shareholder and stock exchange approvals, and all other conditions to completion of the Newco Sale are satisfied or waived, Dacha expects that the Newco Sale and the Share Capital Reorganization will be completed on or about August 13, 2014. Following completion of these transactions, Dacha will apply to be delisted from the TSX Venture Exchange and to cease to be a reporting issuer for Canadian securities law purposes.\n\nDacha currently owns 2,940,000 Merus Shares, which it acquired by participating in Merus' bought deal offering of Merus Shares that closed on June 19, 2014. Assuming Dacha contributes $6.5 million in cash to Newco immediately prior to completion of the Newco Sale, Dacha will receive an additional 3,823,529 Merus Shares in satisfaction of the Purchase Price plus 133,824 Merus Shares in satisfaction of the structuring fee payable to Dacha in connection with the New Sale. \n\nPursuant to the Share Capital Reorganization, provided it is duly approved at the Meeting, Dacha will redeem all of its outstanding common shares in exchange for all of the Merus Shares that it owns following completi...