Sokoman Minerals Corp. Reschedules Meeting, Files Amended Meeting Materials
Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) has rescheduled its annual and special meeting to March 21, 2025, in Vancouver, following a Canada Post strike. The key agenda item is a special resolution for shareholders to approve a spin-out of approximately 2 million shares of Vinland Lithium Inc., representing half of Sokoman's 4 million shares holding.
Vinland Lithium, which owns the Killick Lithium Project, is currently owned by Sokoman (40%), Benton Resources (40%), and Piedmont Lithium Newfoundland Holdings (20%). The TSX Venture Exchange has conditionally agreed to list approximately 10 million Vinland shares. The expected distribution ratio is approximately 50 Vinland shares per 8,000 Sokoman shares, with accounts holding less than 8,000 shares not eligible due to administrative costs.
Notably, Piedmont has invested CAD$2.0M in Vinland at CAD$1.00 per share and has the option to earn up to 62.5% direct interest in Killick Lithium by spending CAD$12.0M in exploration and development.
Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) ha riprogrammato la sua riunione annuale e straordinaria per il 21 marzo 2025 a Vancouver, a seguito di uno sciopero di Canada Post. Il punto chiave dell'ordine del giorno è una risoluzione speciale per gli azionisti per approvare un'uscita di circa 2 milioni di azioni di Vinland Lithium Inc., che rappresenta la metà delle 4 milioni di azioni detenute da Sokoman.
Vinland Lithium, che possiede il Killick Lithium Project, è attualmente posseduta da Sokoman (40%), Benton Resources (40%) e Piedmont Lithium Newfoundland Holdings (20%). La Borsa di Toronto Venture ha condizionalmente accettato di quotare circa 10 milioni di azioni Vinland. Il rapporto di distribuzione previsto è di circa 50 azioni Vinland per ogni 8.000 azioni Sokoman, con i conti che detengono meno di 8.000 azioni non idonei a causa dei costi amministrativi.
È importante notare che Piedmont ha investito CAD$2,0M in Vinland a CAD$1,00 per azione e ha l'opzione di guadagnare fino al 62,5% di interesse diretto nel Killick Lithium spendendo CAD$12,0M in esplorazione e sviluppo.
Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) ha reprogramado su reunión anual y especial para el 21 de marzo de 2025 en Vancouver, tras una huelga de Canada Post. El punto clave de la agenda es una resolución especial para que los accionistas aprueben la escisión de aproximadamente 2 millones de acciones de Vinland Lithium Inc., lo que representa la mitad de las 4 millones de acciones que posee Sokoman.
Vinland Lithium, que posee el Proyecto de Litio Killick, es actualmente propiedad de Sokoman (40%), Benton Resources (40%) y Piedmont Lithium Newfoundland Holdings (20%). La Bolsa de Valores de Toronto Venture ha aceptado condicionalmente listar aproximadamente 10 millones de acciones de Vinland. La relación de distribución esperada es de aproximadamente 50 acciones de Vinland por cada 8,000 acciones de Sokoman, siendo ineligibles las cuentas que posean menos de 8,000 acciones debido a los costos administrativos.
Es notable que Piedmont ha invertido CAD$2.0M en Vinland a CAD$1.00 por acción y tiene la opción de ganar hasta el 62.5% de interés directo en Killick Lithium gastando CAD$12.0M en exploración y desarrollo.
소코맨 미네랄스 Corp. (TSXV: SIC) (OTCQB: SICNF)는 캐나다 우편 파업에 따라 2025년 3월 21일 밴쿠버에서 연례 및 특별 회의를 재조정했습니다. 주요 안건은 주주들이 빈랜드 리튬 Inc.의 약 200만 주 분할을 승인하는 특별 결의안입니다. 이는 소코맨이 보유한 400만 주의 절반에 해당합니다.
빈랜드 리튬은 킬릭 리튬 프로젝트를 소유하고 있으며, 현재 소코맨(40%), 벤턴 리소스(40%), 피드먼트 리튬 뉴펀들랜드 홀딩스(20%)가 소유하고 있습니다. TSX 벤처 거래소는 약 1000만 빈랜드 주식을 상장하는 것에 조건부로 동의했습니다. 예상 배분 비율은 약 8,000 소코맨 주식당 50 빈랜드 주식이며, 8,000 주식 미만을 보유한 계좌는 관리 비용으로 인해 자격이 없습니다.
특히, 피드먼트는 빈랜드에 CAD$2.0M를 CAD$1.00 주당으로 투자했으며, 탐사 및 개발에 CAD$12.0M를 지출하여 킬릭 리튬에 대해 최대 62.5%의 직접 지분을 얻을 수 있는 옵션을 가지고 있습니다.
Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) a reprogrammé sa réunion annuelle et spéciale pour le 21 mars 2025 à Vancouver, suite à une grève de Canada Post. Le point clé de l'ordre du jour est une résolution spéciale pour que les actionnaires approuvent une scission d'environ 2 millions d'actions de Vinland Lithium Inc., représentant la moitié des 4 millions d'actions détenues par Sokoman.
Vinland Lithium, qui possède le Projet de Lithium Killick, est actuellement détenue par Sokoman (40 %), Benton Resources (40 %) et Piedmont Lithium Newfoundland Holdings (20 %). La Bourse de Toronto Venture a conditionnellement accepté de lister environ 10 millions d'actions Vinland. Le ratio de distribution attendu est d'environ 50 actions Vinland pour 8 000 actions Sokoman, les comptes détenant moins de 8 000 actions n'étant pas éligibles en raison des coûts administratifs.
Il est à noter que Piedmont a investi 2,0 millions CAD dans Vinland à 1,00 CAD par action et a la possibilité de gagner jusqu'à 62,5 % d'intérêt direct dans Killick Lithium en dépensant 12,0 millions CAD en exploration et développement.
Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) hat seine jährliche und außerordentliche Hauptversammlung auf den 21. März 2025 in Vancouver verschoben, nachdem es zu einem Streik bei Canada Post kam. Der wichtigste Punkt auf der Tagesordnung ist ein Sonderbeschluss, damit die Aktionäre eine Abspaltung von etwa 2 Millionen Aktien von Vinland Lithium Inc. genehmigen, was die Hälfte der 4 Millionen Aktien von Sokoman darstellt.
Vinland Lithium, das das Killick Lithium Projekt besitzt, gehört derzeit zu Sokoman (40%), Benton Resources (40%) und Piedmont Lithium Newfoundland Holdings (20%). Die TSX Venture Exchange hat bedingt zugestimmt, etwa 10 Millionen Vinland-Aktien zu listen. Das erwartete Verteilungsverhältnis beträgt etwa 50 Vinland-Aktien pro 8.000 Sokoman-Aktien, wobei Konten mit weniger als 8.000 Aktien aufgrund von Verwaltungskosten nicht berechtigt sind.
Bemerkenswert ist, dass Piedmont CAD$2,0M in Vinland zu CAD$1,00 pro Aktie investiert hat und die Option hat, bis zu 62,5 % direktes Interesse an Killick Lithium zu erwerben, indem es CAD$12,0M in Exploration und Entwicklung investiert.
- Piedmont's significant investment of CAD$2.0M at CAD$1.00 per share validates project value
- Potential future payment of CAD$10.0M in Piedmont shares upon earn-in completion
- Sokoman to retain 2% NSR on Killick Lithium Project
- Conditional approval from TSX Venture Exchange for Vinland share listing
- Shareholders with less than 8,000 shares (CAD$320 value) will be excluded from spin-out benefits
- Potential significant dilution of Sokoman's interest if Piedmont exercises 62.5% earn-in option
St. John's, Newfoundland and Labrador--(Newsfile Corp. - February 12, 2025) - Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) ("Sokoman" or the "Company") announces that, further to its November 25, 2024 news release, and as a result of the Canada Post strike, it has filed AMENDED Management Proxy Materials under its profile on sedarplus.ca for its annual and special meeting of shareholders (the "Meeting"). The Meeting is set to be held March 21, 2025 in Vancouver, BC. At the Meeting Sokoman shareholders will be asked to approve a special resolution (two-thirds of votes cast) to reorganize Sokoman's share capital to facilitate a spin-out to shareholders of approximately 2 million of Sokoman's 4 million shares of Vinland Lithium Inc. ("Vinland"). Vinland holds the Killick Lithium Project and is currently owned by Sokoman (
The record date for voting at the meeting is January 20, 2025; however, the record date for participation in the spin-out will be determined only after shareholders approve the special spin-out resolution. The record date for participating in the spin-out will be reflected in a notice bulletin issued by the TSX Venture Exchange when it sets the spin-out ex-participation trading date for Sokoman shares.
The spin-outs will be substantially pro rata to Sokoman and Benton shareholders; however, the exact ratio of Vinland share per Sokoman share will be determined prior to completion in March 2025. The exchange ratio is dependent on the number of Sokoman shares issued at the time of completion. The ratio is expected to be approximately 50 Vinland shares per 8,000 Sokoman shares. Accounts holding less than 8,000 Sokoman shares (having an approximate CAD
Some of the key points for shareholders are as follows:
- The Killick Lithium Project holds excellent discovery potential in a newly discovered lithium belt
- Piedmont, a wholly-owned subsidiary of NASDAQ-listed Piedmont Lithium Inc., completed a 2023 financing in Vinland of CAD
$2.0M @ CAD$1.00 per share to hold19.9% - Piedmont Lithium Inc. is one of North America's leading lithium companies
- Newfoundland is ranked as one of the top jurisdictions to explore and develop mineral potential
- Piedmont Lithium Inc. has vast technical and geological knowledge in similar geology to that of the Kraken pegmatites
- Vinland holds indirectly, through its subsidiary Killick Lithium Inc., a
100% interest in the Killick Lithium Project - Piedmont will have the option to earn up to a
62.5% direct interest in Killick Lithium Inc. by spending CAD$12.0M in exploration and development during the period of the option - Upon Piedmont completing all earn-in options, Piedmont/Piedmont Lithium Inc. will have paid Sokoman and Benton a total of CAD
$10.0M in Piedmont Lithium Inc. shares in addition to having funded all the Vinland exploration and development costs - Sokoman and Benton to collectively retain a
2% NSR on the Killick Lithium Project
In addition to the spin-out resolution, Sokoman shareholders who attend the Meeting will attend to annual matters, including consideration of Sokoman's June 30, 2024, audited financial statements, the election of directors, appointment of auditors, and approval of Sokoman's stock option plan.
Full details of the spin-out and the other annual matters are contained in a management information circular dated February 4, 2025, and filed under the Company's profile on sedarplus.ca. This circular contains detailed information on Vinland as a stand-alone company. The completion of the spin-out remains uncertain at this time.
QP
Timothy Froude (P.Geo.), a qualified person under National Instrument 43-101, and president and chief executive officer of Sokoman, has approved the scientific and technical disclosure in this news release and prepared or supervised its preparation.
About Sokoman Minerals Corp.
Sokoman Minerals Corp. is a discovery-oriented company and one of the largest landholders in the province of Newfoundland and Labrador, Canada's emerging gold district. The Company's primary focus is its portfolio of gold projects; the
In October 2023, Sokoman and Benton completed an agreement with Piedmont Lithium Inc., a major developer of lithium projects and processing plants in the USA, and exactly the right partner to have to advance the lithium project. For full details of the agreement, please refer to the Company's press release dated October 11, 2023.
Projects optioned with optionee fully vested are:
- East Alder Project optioned to Canterra Minerals Inc. (SIC retains shares of CTM plus
1% NSR) - Startrek Project optioned to Thunder Gold (SIC retains shares of TGOL plus
1% NSR)
The Company would like to thank the Government of Newfoundland and Labrador for the financial support of the Moosehead and Fleur de Lys Projects through the Junior Exploration Assistance Program during the past few years.
For more information, please contact:
Timothy Froude, P.Geo., President & CEO
T: 709-765-1726
E: tim@sokomanmineralscorp.com
Cathy Hume, VP Corporate Development, Director
T: 416-868-1079 x 251
E: cathy@chfir.com
Website: www.sokomanmineralscorp.com
Twitter: @SokomanMinerals
Facebook: @SokomanMinerals
LinkedIn: @SokomanMineralsCorp
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. Except for historical information contained herein, this news release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Minerals Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Sokoman Minerals Corp.
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240566
FAQ
What is the distribution ratio for Sokoman's (SICNF) Vinland Lithium spin-out?
When is Sokoman's (SICNF) special shareholders meeting for the Vinland spin-out?
What is the minimum shareholding required for SICNF investors to participate in the Vinland spin-out?
How much can Piedmont earn in the Killick Lithium Project from Sokoman (SICNF)?
What is the current ownership structure of Vinland Lithium before the SICNF spin-out?
