Business
Western Alaska Minerals Corp. Announces Completion of Business Combination
Vancouver, British Columbia--(Newsfile Corp. - November 10, 2021) - Western Alaska Minerals Corp. (formerly 1246779 B.C. Ltd., "Western Alaska" or the "Resultin
About this update from Alaska Silver Corp
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - November 10, 2021) - Western Alaska Minerals Corp. (formerly 1246779 B.C. Ltd., \"Western Alaska\" or the \"Resulting Issuer\") is pleased to announce the completion of the previously announced business combination transaction (the \"Business Combination\") whereby WACG Acquisition Co. (\"Subco\"), a wholly owned subsidiary of the Resulting Issuer, and Western Alaska Copper & Gold Company (\"WAC&G\") completed a plan of merger under Alaskan law that resulted in the reverse takeover of the Resulting Issuer by WAC&G. In addition, the Resulting Issuer has received conditional approval to list the common shares of the Resulting Issuer (the \"Resulting Issuer Shares\") on the TSX Venture Exchange (the \"Exchange\"). A listing statement in respect of the Resulting Issuer has been prepared in accordance with the requirements of the Exchange and has been filed under the Resulting Issuer's issuer profile on SEDAR at www.sedar.com. It is anticipated that the Resulting Issuer Shares will commence trading on the Exchange under the symbol \"WAM\" on or about November 15, 2021, subject to the Exchange providing final approval of the listing of the Resulting Issuer Shares. Summary of the Business Combination Pursuant to the Business Combination: (a) Subco merged into WAC&G in accordance with the plan of merger (and WAC&G, the surviving corporation, became a wholly owned subsidiary of the Resulting Issuer; and (b) each share of class A common stock of WAC&G held by the shareholders of WAC&G was converted by reason of the plan of merger and without any action of the shareholders of WAC&G into either Resulting Issuer Shares or Proportional Voting Shares of the Resulting Issuer, as applicable in accordance with the terms of the Business Combination, resulting in the WAC&G shareholders receiving an aggregate of 4,470,000 Resulting Issuer Shares and 260,700 Proportional Voting Shares of the Resulting Issuer. The prior shareholders of WAC&G now collectively exercise control over the Resulting Issuer. Pursuant to the Business Combination, the Resulting Issuer assumed any WAC&G stock options under the terms of the Resulting Issuer stock option plan and each WAC&G option was exchanged for a Resulting Issuer option. Prior to the completion of the Business ...