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Riverside Resources Inc. Provides Update on Spin-Out Transaction and Capitan Mining Inc. Listing
Vancouver, British Columbia--(Newsfile Corp. - August 6, 2020) -   Riverside Resources I...
About this update from Riverside Resources Inc
[{"type":"text","content":"Riverside Resources Inc. Provides Update on Spin-Out Transaction and Capitan Mining Inc. ListingVancouver, British Columbia--(Newsfile Corp. - August 6, 2020) -   Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: R99) (\"Riverside\" or the \"Company\") is pleased to announce that further to its press releases dated February 25, 2020 and April 1, 2020, the effective date for the spin-out of the Peñoles Project to its shareholders by way of a plan of arrangement (the “Arrangement”) with Capitan Mining Inc. (“Capitan”) is expected to occur at 12:01 a.m. on August 14, 2020 (the “Effective Date”). Pursuant to the arrangement, holders of common shares of Riverside on August 13, 2020 will receive one new common share of Riverside (each, a “Riverside Share”) and 0.2767 of a Capitan share (each, a “Capitan Share”). The existing common shares of Riverside are expected to be delisted on the TSX Venture Exchange (the “TSXV”) on August 13, 2020. Riverside Shares are expected to commence trading on the TSXV at the market opening on August 14, 2020. The CUSIP numbers for the new Riverside Shares and the Capitan Shares will be 76927D101 and 140703109, respectively. Computershare Investor Services Inc. (\"Computershare\") will forward replacement certificates to each Riverside shareholder that is entitled to receive certificates, representing their allotted number of new Riverside Shares and Capitan Shares in accordance with the Arrangement. Letters of transmittal have been mailed to registered holders of common shares of Riverside, which must be completed and returned to Computershare together with the share certificates of Riverside at the address specified in the letter of transmittal, in order for Riverside shareholders to receive new Riverside Shares and Capitan Shares following the Effective Date. A copy of the letter of transmittal is also available under the Company's profile on SEDAR at www.sedar.com. For more information, see the Company's management information circular dated February 25, 2020 filed under the Company's profile on SEDAR at www.sedar.com. Capitan has received conditional approval to list the Capitan Shares on the TSXV. Final listing approval will be subject to Capitan satisfying all of the listing conditions o...