Business
Stratabound and California Gold Announce Completion of Arrangement
Toronto, Ontario--(Newsfile Corp. - August 16, 2021) - Stratabound Minerals Corp. (TSXV: SB) (...
About this update from Lode Gold Resources Inc
[{"type":"text","content":"Stratabound and California Gold Announce Completion of ArrangementToronto, Ontario--(Newsfile Corp. - August 16, 2021) - Stratabound Minerals Corp. (TSXV: SB) (OTCQB: SBMIF) (\"Stratabound\") and California Gold Mining Inc. (CSE: CGM) (\"California Gold\") are pleased to announce today the completion of the previously announced plan of arrangement (the \"Arrangement\") under the Business Corporations Act (Ontario) pursuant to which Stratabound has acquired all of the issued and outstanding common shares of California Gold (the \"California Gold Shares\"). As a result of the Arrangement, California Gold has become an indirect wholly owned subsidiary of Stratabound. On closing of the Arrangement, an aggregate of approximately 65,108,269 shares of Stratabound (each a \"Stratabound Share\") were issued to shareholders of California Gold (\"California Gold Shareholders\") at an exchange ratio of 1.00 Stratabound Share for each outstanding California Gold Share. In connection with the Arrangement, all outstanding options of California Gold were cancelled, and all outstanding common share purchase warrants of California Gold were exchanged for replacement warrants of Stratabound exercisable to acquire that number of Stratabound Shares equal to the number of California Gold Shares that the holders of the exchanged warrants would have acquired if such holders had exercised such warrants immediately prior to the effective time of the Arrangement.The Arrangement was approved by California Gold Shareholders at a special meeting held on June 29, 2021 (the \"Meeting\"). The Ontario Superior Court of Justice (Commercial List) issued a final order approving the Arrangement on July 5, 2021. The California Gold Shares are expected to be de-listed from the CSE after the close of trading on or about August 16, 2021. An application has also been made for California Gold to cease to be a reporting issuer in the applicable jurisdictions.Registered California Gold Shareholders are encouraged to complete, execute and submit the letter of transmittal included in the Meeting materials previously mailed to California Gold Shareholders as soon as possible in order to receive the Stratabound Shares to which they are entitled under the Arrangement.Stratabound wishes to clarify its disclosure in its news releases of April 21, 2021, May 20, 2021, June 7, 2021 a...