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Sokoman Minerals Corp. Reschedules Meeting, Files Amended Meeting Materials
St. John's, Newfoundland and Labrador--(Newsfile Corp. - February 12, 2025) - Sokoman Minerals C...
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[{"type":"text","content":"Sokoman Minerals Corp. Reschedules Meeting, Files Amended Meeting MaterialsSt. John's, Newfoundland and Labrador--(Newsfile Corp. - February 12, 2025) - Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) (\"Sokoman\" or the \"Company\") announces that, further to its November 25, 2024 news release, and as a result of the Canada Post strike, it has filed AMENDED Management Proxy Materials under its profile on sedarplus.ca for its annual and special meeting of shareholders (the \"Meeting\"). The Meeting is set to be held March 21, 2025 in Vancouver, BC. At the Meeting Sokoman shareholders will be asked to approve a special resolution (two-thirds of votes cast) to reorganize Sokoman's share capital to facilitate a spin-out to shareholders of approximately 2 million of Sokoman's 4 million shares of Vinland Lithium Inc. (\"Vinland\"). Vinland holds the Killick Lithium Project and is currently owned by Sokoman (40%), Benton Resources Inc. (40%), and Piedmont Lithium Newfoundland Holdings LLC (\"Piedmont\"), a wholly-owned subsidiary of NASDAQ-listed Piedmont Lithium Inc., (20%). Benton will concurrently seek approval of its shareholders for a similar 2 million share spin-out. Subject to the two spin-outs completing, the TSX Venture Exchange has conditionally agreed to list the approximately 10 million issued shares of Vinland of which approximately 40% will be in the hands of Sokoman and Benton shareholders.The record date for voting at the meeting is January 20, 2025; however, the record date for participation in the spin-out will be determined only after shareholders approve the special spin-out resolution. The record date for participating in the spin-out will be reflected in a notice bulletin issued by the TSX Venture Exchange when it sets the spin-out ex-participation trading date for Sokoman shares.The spin-outs will be substantially pro rata to Sokoman and Benton shareholders; however, the exact ratio of Vinland share per Sokoman share will be determined prior to completion in March 2025. The exchange ratio is dependent on the number of Sokoman shares issued at the time of completion. The ratio is expected to be approximately 50 Vinland shares per 8,000 Sokoman shares. Accounts holding less than 8,000 Sokoman shares (having an approximate CAD$320 market value) will not receive Vinland shares as the immediate and ongoing administ...