Business
Canadian Arrow Mines Limited Receives Final Court Approval for Plan of Arrangement with Tartisan Resources Corp.
Toronto, Ontario (FSCwire) - Tartisan Resources Corp. (CSE: TTC, FSE:8TA) - ("Tartisan") announces that Canadian Arrow Mines Limited has received final approval
About this update from Tartisan Nickel Corp.
[{"type":"text","content":"Toronto, Ontario (FSCwire) - Tartisan Resources Corp. (CSE: TTC, FSE:8TA) - (\"Tartisan\") announces that Canadian Arrow Mines Limited has received final approval from the Ontario Superior Court of Justice (Commercial List) (the \"Court\") to complete the Plan of Arrangement (the \"Arrangement\") in accordance with the Business Corporations Act (Ontario) with Tartisan Resources Corp (CSE: TTC, FSE:8TA) - (\"Tartisan\"). As announced on October 20, 2017 Tartisan has entered into an agreement with Canadian Arrow to acquire all of the issued and outstanding common shares of Canadian Arrow conditional on the receipt of the requisite approval of not less than 66 2/3% of Canadian Arrow shareholders and 50% of Canadian Arrow disinterested shareholders. Such approvals were obtained at the annual and special meeting of shareholders of Canadian Arrow (“Meeting”) on January 19, 2018. All other conditions of the Arrangement have been satisfied or waived and the Arrangement is to become effective on January 25, 2018, following which time the common shares of Canadian Arrow will be delisted from the TSX Venture Exchange and the common shares exchanged on or about January 30, 2018. Pursuant to the terms of the Agreement, Tartisan will issue to Canadian Arrow shareholders one common share of Tartisan for every 17.5 common shares of Canadian Arrow, resulting in the issuance of approximately 8,000,000 common shares of Tartisan. Additionally, Tartisan has set aside 4,056,707 common shares of Tartisan to settle Canadian Arrow debt pursuant to debt conversion agreements with various Canadian Arrow creditors. None of the securities to be issued pursuant to the Arrangement Agreement have been or will be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\"), or any state securities laws, and any securities issued in the Arrangement are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to Section 3(a)(10) of the U.S. Securities Act and applicable exemptions under state securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities. For more information on the matters voted on at the Meeting and for details of the Arrangement, please see Canadian Arrow's management information circula...