Business
Sama Resources Obtains Final Order Approving Plan of Arrangement
(TheNewswire) Montreal, Quebec – TheNewswire - July 2 1 , 2023 S...
About this update from Sama Resources Inc.
[{"type":"text","content":"Sama Resources Obtains Final Order Approving Plan of Arrangement \n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Montreal, Quebec –\n \n \n TheNewswire -\n \n \n July 2\n \n \n 1\n \n \n , 2023\n \n \n Sama Resources Inc. (“\n \n \n Sama\n \n \n ” or the “\n \n \n Company\n \n \n ”)\n(TSXV:SME\n \n \n )\n \n \n ;\n \n \n (\n \n \n OTC:SAMMF)\n \n \n \n \n is pleased to announce that the\nQuébec Superior Court of Justice (Commercial Division) has issued a\nfinal order approving the previously announced arrangement (the\n“\n \n \n Arrangemen\n \n \n t”), pursuant to which the common shares of its\nwholly-owned subsidiary SRQ Resources Inc. (“\n \n \n SRQ\n \n \n ”) will be\nspun-out.\n \n \n \n \n The Arrangement remains subject to certain closing\nconditions, including its approval by the TSX-V.\n \n \n \n \n If the conditions to closing are satisfied or waived,\nit is anticipated that the Arrangement will be completed before August\n31\n \n \n st\n \n \n , 2023\n \n \n .\n \n \n Following\ncompletion of the Arrangement, application will be made for the common\nshares of SRQ to be listed on the TSX-V.\n \n \n \n \n Pursuant to the terms of the Arrangement, holders of\ncommon shares in the capital of Sama (the “\n \n \n Sama Shares\n \n \n ”) at\nthe effective date of the Arrangement (the “\n \n \n Effective Date\n \n \n ”)\nwill receive: (i)\n \n one new common share of Sama for each Sama\nShare held and (ii) one common share of SRQ for each 10 Sama Shares\nheld (together, the “\n \n Consideration\n \n ”). The exact Effective Date will be announced\nin due course.\n \n \n \n To receive the Consideration under the Arrangement,\neach registered shareholder of the Company must complete, sign, date\nand return the Letter of Transmittal, which was referenced in the\nCompany’s Management Information Circular dated May 29, 2023 and\nmade available on a stand-alone basis on the Company’s SEDAR profile\non June 28, 2023.\n \n \n \n \n For greater clarity, the Letter of Transmittal is for\nuse only by registered shareholders of Sama. Shareholders whose Sama\nShares are registered in the name of a broker, investment dealer,\nbank, trust company, trustee or other nominee should contact that\nnom...