Court Approval Received and Record Date Determined for the Chlore Property Spinoff Pursuant to Arrangement
Zeus North America Mining Corp (CSE:ZEUS)(OTCQB:ZUUZF) has received approval from the Supreme Court of British Columbia for its plan to spin off the Chlore Property to its wholly-owned subsidiary Kelso Mining. The arrangement, dated August 26, 2024, establishes January 29, 2025, as the share distribution record date.
Under the terms, Zeus shareholders will receive one Kelso share for every 150 Zeus shares owned on the record date. The company plans to complete the arrangement and distribute Kelso shares by February 5, 2025. Zeus option and warrant holders who exercise before the record date will be eligible for the same distribution ratio.
Following the spinoff, shareholders will own shares in two public companies: Zeus, focusing on Idaho properties (Cuddy Mountain, Selway, and Great Western), and Kelso, concentrating on the Chlore Property in North-Central British Columbia.
Zeus North America Mining Corp (CSE:ZEUS)(OTCQB:ZUUZF) ha ricevuto l'approvazione dalla Corte Suprema della Columbia Britannica per il suo piano di scorporare il Chlore Property nella sua controllata Kelso Mining. L'accordo, datato 26 agosto 2024, stabilisce il 29 gennaio 2025 come data di registrazione per la distribuzione delle azioni.
Secondo i termini, gli azionisti di Zeus riceveranno un'azione di Kelso per ogni 150 azioni di Zeus possedute alla data di registrazione. L'azienda prevede di completare l'accordo e distribuire le azioni di Kelso entro il 5 febbraio 2025. I detentori di opzioni e warrant di Zeus che esercitano prima della data di registrazione saranno idonei per lo stesso rapporto di distribuzione.
Dopo lo scorporo, gli azionisti possiederanno azioni in due società pubbliche: Zeus, che si concentra su proprietà in Idaho (Cuddy Mountain, Selway e Great Western), e Kelso, che si concentra sul Chlore Property nel centro-nord della Columbia Britannica.
Zeus North America Mining Corp (CSE:ZEUS)(OTCQB:ZUUZF) ha recibido la aprobación de la Corte Suprema de Columbia Británica para su plan de escindir la Chlore Property a su subsidiaria de propiedad total Kelso Mining. El acuerdo, fechado el 26 de agosto de 2024, establece el 29 de enero de 2025 como la fecha de registro para la distribución de acciones.
Bajo los términos, los accionistas de Zeus recibirán una acción de Kelso por cada 150 acciones de Zeus que posean en la fecha de registro. La compañía planea completar el acuerdo y distribuir las acciones de Kelso para el 5 de febrero de 2025. Los titulares de opciones y warrants de Zeus que ejercen antes de la fecha de registro serán elegibles para la misma proporción de distribución.
Tras la escisión, los accionistas poseerán acciones en dos compañías públicas: Zeus, que se enfocará en propiedades en Idaho (Cuddy Mountain, Selway y Great Western), y Kelso, que se concentrará en la Chlore Property en el centro-norte de Columbia Británica.
제우스 북미 광업 주식회사 (CSE:ZEUS)(OTCQB:ZUUZF)는 클로르 자산을 전액 출자 자회사인 켈소 마이닝으로 분할하기 위한 계획을 브리티시컬럼비아주 대법원으로부터 승인을 받았습니다. 이 협정은 2024년 8월 26일자로 작성되었으며, 2025년 1월 29일을 주식 배당 기준일로 정하고 있습니다.
조건에 따라 제우스 주주들은 기준일에 보유한 제우스 주식 150주당 1주의 켈소 주식을 받게 됩니다. 회사는 2025년 2월 5일까지 이 협정을 완료하고 켈소 주식을 배포할 계획입니다. 기준일 이전에 행사하는 제우스 옵션 및 워런트 보유자는 동일한 배당 비율에 대한 자격을 갖게 됩니다.
분할 후 주주들은 두 개의 상장 회사의 주식을 보유하게 되며, 제우스는 아이다호 지역의 자산 (커디 마운틴, 셀웨이, 그레이트 웨스턴)에 중점을 두고, 켈소는 브리티시컬럼비아 북부의 클로르 자산에 집중하게 됩니다.
Zeus North America Mining Corp (CSE:ZEUS)(OTCQB:ZUUZF) a reçu l'approbation de la Cour suprême de la Colombie-Britannique pour son plan de scission de la Chlore Property vers sa filiale à part entière Kelso Mining. L'accord, daté du 26 août 2024, fixe le 29 janvier 2025 comme date d'enregistrement pour la distribution des actions.
Selon les termes de l'accord, les actionnaires de Zeus recevront une action de Kelso pour chaque 150 actions de Zeus détenues à la date d'enregistrement. La société prévoit de finaliser l'accord et de distribuer les actions de Kelso d'ici le 5 février 2025. Les détenteurs d'options et de bons de souscription de Zeus qui exercent avant la date d'enregistrement seront également éligibles au même ratio de distribution.
Après la scission, les actionnaires détiendront des actions dans deux sociétés publiques : Zeus, qui se concentre sur les propriétés de l'Idaho (Cuddy Mountain, Selway et Great Western), et Kelso, qui se concentre sur la Chlore Property dans le centre-nord de la Colombie-Britannique.
Zeus North America Mining Corp (CSE:ZEUS)(OTCQB:ZUUZF) hat die Genehmigung des Obersten Gerichts von British Columbia für seinen Plan erhalten, das Chlore Property an seine hundertprozentige Tochtergesellschaft Kelso Mining auszugliedern. Die Vereinbarung, datiert auf den 26. August 2024, legt den 29. Januar 2025 als Stichtag für die Aktionärsverteilung fest.
Gemäß den Bedingungen erhalten die Aktionäre von Zeus eine Kelso-Aktie für jeweils 150 gehaltene Zeus-Aktien am Stichtag. Das Unternehmen plant, die Vereinbarung bis zum 5. Februar 2025 abzuschließen und die Kelso-Aktien zu verteilen. Inhaber von Optionen und Warrants von Zeus, die vor dem Stichtag ausüben, sind ebenfalls berechtigt, im gleichen Verteilungsverhältnis zu profitieren.
Nach der Abspaltung werden die Aktionäre Anteile an zwei börsennotierten Unternehmen halten: Zeus, das sich auf Immobilien in Idaho (Cuddy Mountain, Selway und Great Western) konzentriert, und Kelso, das sich auf das Chlore Property im nord-zentralen British Columbia fokussiert.
- Creation of two focused public companies through asset spinoff
- Shareholders receive additional shares in new company (Kelso) while maintaining Zeus ownership
- Dilutive ratio of 1:150 for new shares distribution
VANCOUVER, BC / ACCESSWIRE / January 9, 2025 / Zeus North America Mining Corp. (CSE:ZEUS)(OTCQB:ZUUZF)(FRANKFURT:O92) (the "Company" or "Zeus") reports that on January 7, 2025 the Supreme Court of British Columbia approved the plan of arrangement between the Company and its wholly owned subsidiary Kelso Mining Inc. ("Kelso") dated August 26, 2024 (the "Arrangement"), to spin out its Chlore Property located in the Omineca Mining Division of North-Central British Columbia to Kelso.
The Company announced the share distribution record date of January 29, 2025 (the "Share Distribution Record Date") pursuant to the Arrangement. Under the terms of the Arrangement, Zeus' shareholders will be issued one share of Kelso with respect to every 150 shares of Zeus owned on the Share Distribution Record Date.
The Company plans to complete the Arrangement and distribute Kelso shares to the Company's shareholders and transfer the Chlore Property to Kelso on February 5, 2025.
Holders of Zeus options and warrants, who exercise their options and/or warrants before the Share Distribution Record Date, will also be entitled to receive one share of Kelso with respect to every 150 shares of Zeus. The Chlore Property will be transferred to Kelso.
Upon completion of the Arrangement, Zeus shareholders will ultimately own shares in two public companies: Zeus, which will be focused on its properties in the State of Idaho known as the Cuddy Mountain, Selway and Great Western properties and Kelso, which will focus on the Chlore Property.
The disclosure regarding the Arrangement is provided in the Company's information circular dated November 5, 2024 and the news releases dated August 26, 2024 and December 20, 2024, which are available on www.sedarplus.com under the profile of Zeus North America Mining Corp.
On behalf of the board of directors.
"Dean Besserer"
President and CEO
For more information, please contact the Company at info@zeusminingcorp.com
FOR INVESTOR RELATIONS CONTACT:
Kin Communications Inc.
Ph: 604-684-6730
ZEUS@kincommunications.com
About Zeus North America Mining Corp.
Exploring in Idaho's newest Copper Belt. The Company is focused on its exploration properties in the state of Idaho, USA known as the: Cuddy Mountain; Selway; and Great Western properties, respectively. The Idaho properties consist of 102 (Cuddy Mountain), 57 (Selway) and 38 (Great Western) lode mining claims respectively and cover a cumulative area of approximately 4,200 acres. The Company's flagship Cuddy Mountain Property is adjacent to Hercules Metal Corp.'s Leviathan Copper Porphyry discovery. The Company is in the business of mineral exploration.
Forward-Looking Statements
When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Company believes, in light of the experience of their respective officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this news release are reasonable, undue reliance should not be placed on them because the parties can give no assurance that such statements will prove to be correct. The forward-looking statements and information in this news release include, amongst others, the Company's plans regarding the Arrangement and exploration plans. Such statements and information reflect the current view of the Company. There are risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements or implied by such forward-looking statements. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: currency fluctuations; limited business history of the parties; disruptions or changes in the credit or security markets; results of operation activities and development of projects; project cost overruns or unanticipated costs; shareholder, court and regulatory approvals; and general development, market and industry conditions.
The Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of its securities or its financial or operating results (as applicable). The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, are subject to change after such date. The Company does not undertake to update this information at any particular time except as required in accordance with applicable laws.
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE: Zeus North America Mining Corp.
View the original press release on accesswire.com
FAQ
What is the share distribution ratio for Zeus Mining's (ZUUZF) Chlore Property spinoff?
When will Zeus Mining (ZUUZF) complete the Chlore Property spinoff to Kelso Mining?
What properties will Zeus Mining (ZUUZF) retain after the Chlore Property spinoff?
Are Zeus Mining (ZUUZF) warrant holders eligible for Kelso shares in the spinoff?
