Business
Thesis Gold and Benchmark Metals Merger Approved by Court
Edmonton, Alberta--(Newsfile Corp. - August 21, 2023) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) (the "Company") and Thesis Gold (Holding
About this update from Thesis Gold & Silver Inc.
[{"type":"text","content":" Edmonton, Alberta--(Newsfile Corp. - August 21, 2023) - Benchmark Metals Inc. (TSXV: BNCH) (OTCQX: BNCHF) (WKN: A2JM2X) (the \"Company\") and Thesis Gold (Holdings) Inc. (TSXV: TAU) (WKN: A2QQ0Y) (OTCQX: THSGF) (\"Thesis\") are pleased to report that the Supreme Court of British Columbia has approved the previously announced plan of arrangement (\"Arrangement\"), which was approved by the securityholders of Thesis on August 9, 2023 as described in Thesis' news release dated August 9, 2023 and the joint news release of the Company and Thesis dated June 5, 2023 as to the business combination of Benchmark and Thesis pursuant to the Arrangement. Assuming all other remaining conditions to the Arrangement are either satisfied or waived, the Company expects that the closing date of the Arrangement (the \"Effective Date\") will occur on or about Wednesday, August 23, 2023. Under the terms of the Arrangement, Thesis shareholders on the Effective Date will receive 2.5584 Company common shares for every Thesis share held, and then the Company will consolidate its shares on a 2.6:1 share basis and change its name to \"Thesis Gold Inc.\" For complete details of the Plan of Arrangement, interested persons are directed to Thesis' Information Circular filed on SEDAR+ (www.sedarplus.ca) on July 13, 2023 by Thesis under its company profile. As previously announced, Thesis requested a trading halt of its common shares on the TSX Venture Exchange (the \"Exchange\") after the close of trading on August 16, 2023, pending completion of the Arrangement. Consequently, Thesis' common shares are not expected to return to trading, assuming the Arrangement is completed. The common shares of Thesis will be delisted from the Exchange, because Thesis will become a wholly-owned subsidiary of the Company on the Effective Date. About the Company Benchmark Metals Inc. is a Canadian based gold and silver company advancing its 100% owned Lawyer's Gold-Silver Project located in the prolific Golden Horseshoe of northern British Columbia, Canada. The Project consists of three mineralized deposits that remain open for expansion, in addition to +20 new target areas along the 20-kilometer trend. Benchmark trades on the TSX Venture Exchange in Canada, the OTCQX Best Market in the United States, and the Tradegate Exchange in Europe. Benchmark is managed by proven...