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Spruce Ridge Declares Dividend-in-kind of Shares of Canada Nickel Company
(TheNewswire) TheNewswire - October 22, 2021 - 1 Spruce Ridge Res...
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[{"type":"text","content":"Spruce Ridge Declares Dividend-in-kind of Shares of Canada Nickel Company\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n TheNewswire - October 22, 2021 -\n \n \n \n \n 1\n \n \n Spruce\nRidge Resources Ltd. (TSXV:SHL)\n \n \n (OTC:SRCGF)\n \n \n (“\n \n \n Spruce Ridge\n \n \n ” or\nthe “\n \n \n Company\n \n \n ”) is pleased to\n \n \n announce\n \n \n the declaration of a dividend\n \n \n -in-kind (the “\n \n \n Dividend\n \n \n ”) of 2,500,000 of the 8,100,000\ncommon shares of Canada Nickel Company Inc. (TSXV: CNC)\n(“\n \n \n CNC Shares\n \n \n ”) held by Spruce Ridge, previously announced on July 27,\n2021 and postponed on September 3, 2021.\n \n \n The\nDividend is payable on or before November 5, 2021 (the “\n \n \n Payment Date\n \n \n ”) to\nholders of record of Spruce Ridge shares at the close of business on\nOctober 29, 2021 (the “\n \n \n Record Date\n \n \n ”).  This Dividend will be the\nsecond payable as the first Dividend of 2,500,000 shares were\ndistributed In September 2020\n \n \n .\n \n \n \n \n The CNC Shares were acquired by Spruce Ridge in\nconnection with the previously announced sale of its interest in the\nCrawford Nickel-Cobalt Sulphide project, details of which are\ncontained in the Company’s previous news releases issued on October\n1, 2019 and February 19, 2020.\n \n \n \n \n Spruce Ridge has designated the Dividend to be an\n“eligible dividend” for the purposes of the\n \n \n Income Tax Act\n \n \n (Canada) and corresponding provincial legislation. The\ndividend will be taxable and non-residents of Canada will be subject\nto Canadian withholding taxes.\n \n \n Shareholders with questions regarding the tax treatment of dividends\nshould consult with their own tax advisors or contact their local\noffice of the Canada Revenue Agency and, where applicable, the\nprovincial taxation authorities.\n \n \n \n \n The Dividend will be distributed on a pro rata basis.\nNo fractional shares or cash in lieu thereof (or any other form of\npayment) will be payable under the Dividend. Any fractional interests\nin CNC Shares under the Dividend will be rounded up or down to the\nnearest whole number of shares. Based upon the number of common shares\nof Spruce Ridge (“\n \n \n Spruce\nRidge Shares\n ...