Business
Rio2 Limited and Atacama Pacific Gold Corporation Announce Shareholder Approval of Arrangement
TORONTO, July 16, 2018 (GLOBE NEWSWIRE) -- Rio2 Limited (“Rio2”) (TSXV:RIO) and Atacama Pacific Gold Corporation (“Atacama Pacific”) (TSXV:ATM) are pleased to a
About this update from Rio2 Limited
[{"type":"text","content":" TORONTO, July 16, 2018 (GLOBE NEWSWIRE) -- Rio2 Limited (“Rio2”) (TSXV:RIO) and Atacama Pacific Gold Corporation (“Atacama Pacific”) (TSXV:ATM) are pleased to announce that the shareholders of Rio2 and the shareholders of Atacama Pacific have voted to approve the proposed business combination of Rio2 and Atacama Pacific by way of a Plan of Arrangement (the “Arrangement”) announced on May 14, 2018. Rio2 and Atacama Pacific will make application to the Ontario Superior Court of Justice for a final order approving the Arrangement on July 23, 2018. The combined company resulting from the Arrangement will continue to operate under the name \"Rio2 Limited\" and will be managed by Rio2's existing executive team led by Alex Black as President and Chief Executive Officer. Rio2 held a Special Meeting of Shareholders at which 100% of the common shares of Rio2 represented at the meeting were voted in favour of the Arrangement. Rio2 shareholders also approved at the meeting the adoption of a new stock option plan and a new share incentive plan for the issuer resulting from the Arrangement, with effect from completion of the Arrangement (the “Incentive Plans”). Atacama Pacific also held a Special Meeting of Shareholders at which in excess of 99% of the common shares of Atacama Pacific represented at the meeting were voted in favour of the Arrangement after excluding votes for the purposes of calculating majority of minority approval as required under Multilateral Instrument 61-101. At the meeting, Atacama Pacific shareholders also approved the Incentive Plans as well as the continuance of Atacama Pacific under the Business Corporation Act (Ontario), the continuance being required in order to complete the Arrangement, and the Incentive Plans. Atacama Pacific intends to complete the continuance later today. It is expected that the Arrangement will be completed on or about July 24, 2018, subject to receipt of a final order approving the Arrangement from the Ontario Superior Court of Justice and the satisfaction or waiver of all other conditions to the Arrangement and that the shares of the combined company resulting from the Arrangement will commence trading on the TSX Venture Exchange on or about July 30, 2018 under the symbol “RIO”. For more information about the Arrangement, please see the Joint Management Information Circular of Rio2 and At...