Cadillac Ventures Inc. and KFG Resources Ltd. Enter in Voting Support Agreements Respecting the Arrangement

Rhea-AI Summary

Cadillac Ventures and KFG Resources announced a proposed plan of arrangement involving voting support agreements with shareholders holding approximately 41.7% of KFG's common shares. The KFG Supporting Shareholders have agreed to vote in favor of the arrangement at an upcoming meeting. This collaboration aims to strengthen shareholder support for the planned arrangement between Cadillac and KFG, enhancing future growth prospects.

Positive

• KFG Supporting Shareholders represent approximately 41.7% of outstanding shares, indicating strong initial backing for the arrangement.
• The Voting Support Agreements suggest a unified approach to the proposed arrangement, enhancing the likelihood of its approval.

Negative

• None.

TORONTO, ON / ACCESSWIRE / March 1, 2021 / Cadillac Ventures Inc. ("Cadillac") (TSXV:CDC) and KFG Resources Ltd. ("KFG") (KFG) are pleased to announce that in connection with the previously announced proposed plan of arrangement (the "Arrangement") involving Cadillac, KFG and the shareholders of KFG (see the press releases of Cadillac and KFG, each dated February 9, 2021), all of the directors and executive officers of KFG and certain shareholders of KFG (collectively, the "KFG Supporting Shareholders"), collectively holding approximately 41.7% of the issued and outstanding common shares of KFG (the "KFG Shares"), have entered into voting support agreements with Cadillac (the "Voting Support Agreements").

Pursuant to the Voting Support Agreements, the KFG Supporting Shareholders have agreed, among other things, to vote all of their KFG Shares in favour of the Arrangement at a special meeting of holders of KFG Shares to be held to consider the Arrangement, and to otherwise support the Arrangement, subject to the provisions of such Voting Support Agreements.

Copies of the Voting Support Agreements will be filed under KFG's profile on SEDAR at www.sedar.com.

Cautionary statement regarding forward-looking information

This press release contains 'forward-looking statements' within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur, including, without limitation, statements relating to the Arrangement, including the process associated therewith and completion thereof; the meeting of holders of KFG Shares; and statements and expectations regarding the KFG Supporting Shareholders support of the Arrangement. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while based on KFG and Cadillac respective expectations and considered reasonable at the time they were made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including those described in Cadillac's and KFG's respective public disclosure documents on SEDAR at www.sedar.com. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this press release are made as of the date of this release. Unless required by law, neither Cadillac nor KFG intends to, or assumes any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

For further information regarding Cadillac, please visit Cadillac's website www.cadillacventures.com, or contact Norman Brewster, President and Chief Executive Officer, at 905-837-2000. For further information regarding KFG, please visit KFG's website www.kfgresources.com of contact Robert A. Kadane, President, at 940-500-0807 or robertkadane40@gmail.com.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.

SOURCE: Cadillac Ventures Inc.

View source version on accesswire.com:
https://www.accesswire.com/632830/Cadillac-Ventures-Inc-and-KFG-Resources-Ltd-Enter-in-Voting-Support-Agreements-Respecting-the-Arrangement

FAQ

What is the arrangement between Cadillac Ventures and KFG Resources?

The arrangement includes a proposed plan involving voting support agreements with KFG shareholders to facilitate a merger.

How much of KFG's shares are backed by the Voting Support Agreements?

Approximately 41.7% of KFG's issued and outstanding common shares are supported by the Voting Support Agreements.

When will the KFG shareholders vote on the proposed arrangement?

A special meeting of KFG shareholders will be held to consider the proposed arrangement, although the specific date is not mentioned in the press release.

Where can I find more information about the Voting Support Agreements?

Copies of the Voting Support Agreements will be filed under KFG's profile on SEDAR available at www.sedar.com.