Business
Highland Critical Minerals Corp. and Highland Red Lake Gold Corp. Announce Completion of Plan of Arrangement
Toronto, Ontario--(Newsfile Corp. - December 9, 2025) - Highland Critical Minerals Corp. (CSE: HLND) (FSE: U8X) ("Highland") and Highland Red Lake Gold Corp. ("Highland Red Lake") are pleased to announce the closing of the previously announced distribution of a portion of Highland's holdings of class A common voting shares without par value of Highland Red Lake ("Highland Red Lake Shares") and share purchase warrants exercisable to acquire Highland Red Lake Shares at a price of $0.15 per share..
About this update from Red Lake Gold Inc
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - December 9, 2025) - Highland Critical Minerals Corp. (CSE: HLND) (FSE: U8X) ("Highland") and Highland Red Lake Gold Corp. ("Highland Red Lake") are pleased to announce the closing of the previously announced distribution of a portion of Highland's holdings of class A common voting shares without par value of Highland Red Lake ("Highland Red Lake Shares") and share purchase warrants exercisable to acquire Highland Red Lake Shares at a price of $0.15 per share for a period of five years from the date of issuance ("Highland Red Lake Warrants") to securityholders of Highland through a statutory plan of arrangement under section 288 of the Business Corporations Act (British Columbia) (the "Plan of Arrangement"), pursuant to an arrangement agreement dated August 19, 2025 ("Arrangement Agreement").","length":902,"tagName":"p"},{"type":"text","content":"Pursuant to the Plan of Arrangement, Highland amended its articles: (i) to reclassify the class A common shares (the "Highland Common Shares") as "Pre-Arrangement Common Shares" ("Pre-Arrangement Common Shares"); and (ii) create a new class of shares (the "Class A Common Shares") with terms and restrictions identical to those of the Highland Common Shares.","length":398,"tagName":"p"},{"type":"text","content":"The distribution record date for the Plan of Arrangement was August 26, 2025 (the "Distribution Record Date"). On December 8, 2025, being the effective date for the Plan of Arrangement (the "Effective Date"), the following occurred:","length":252,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"each holder of Pre-Arrangement Common Shares as of the Distribution Record Date received 0.5 of a Highland Red Lake Share and 0.5 of a Highland Red Lake Warrant for each Pre-Arrangement Common Share held;","length":204,"tagName":"p","attribs":{}}]}],"tagName":"ol","bulletedList":false,"length":204},{"type":"list","items":[{"val":[{"type":"text","content":"Each holder of restricted share units ("RSU") in the capital of Highland ("Highland RSUs") outstanding as of the Distribution Record Date received a RSU in the capital of Highland Red Lake, each entitling the holder thereof to acquire 0.5 o...