Shareholders of Zeus North America Mining Corp. Approved the Plan of Arrangement at the Special Meeting
Zeus North America Mining Corp. (ZUUZF) announced that shareholders have approved the plan of arrangement with its subsidiary Kelso Mining Inc. at the special meeting held on December 19, 2024. The arrangement involves spinning out the Chlore Property in British Columbia to Kelso. 32.25% of common shares (19,093,499) were voted, all in favor.
Under the arrangement, shareholders will receive one Kelso share for every 150 Zeus shares owned on the share distribution record date. Upon completion, shareholders will own shares in both Zeus, focusing on Idaho properties (Cuddy Mountain, Selway, and Great Western), and Kelso, focusing on the Chlore Property. The arrangement requires British Columbia Supreme Court approval, with a hearing scheduled for January 7, 2025.
Zeus North America Mining Corp. (ZUUZF) ha annunciato che gli azionisti hanno approvato il piano di accordo con la sua filiale Kelso Mining Inc. durante l'incontro straordinario tenutosi il 19 dicembre 2024. L'accordo prevede la scissione della Chlore Property nella Columbia Britannica a favore di Kelso. Il 32,25% delle azioni ordinarie (19.093.499) sono state votate, tutte a favore.
Secondo l'accordo, gli azionisti riceveranno un'azione Kelso per ogni 150 azioni Zeus possedute alla data di registrazione della distribuzione delle azioni. Una volta completato, gli azionisti possederanno azioni sia di Zeus, concentrandosi sulle proprietà dell'Idaho (Cuddy Mountain, Selway e Great Western), sia di Kelso, focalizzandosi sulla Chlore Property. L'accordo richiede l'approvazione della Corte Suprema della Columbia Britannica, con un'udienza programmata per il 7 gennaio 2025.
Zeus North America Mining Corp. (ZUUZF) anunció que los accionistas han aprobado el plan de acuerdo con su filial Kelso Mining Inc. en la reunión especial celebrada el 19 de diciembre de 2024. El acuerdo implica la escisión de la Chlore Property en Columbia Británica para Kelso. El 32,25% de las acciones comunes (19,093,499) fueron votadas, todas a favor.
Según el acuerdo, los accionistas recibirán una acción de Kelso por cada 150 acciones de Zeus que posean en la fecha de registro de distribución de acciones. Al finalizar, los accionistas poseerán acciones tanto de Zeus, enfocado en propiedades de Idaho (Cuddy Mountain, Selway y Great Western), como de Kelso, enfocado en la Chlore Property. El acuerdo requiere la aprobación de la Corte Suprema de Columbia Británica, con una audiencia programada para el 7 de enero de 2025.
제우스 북미 광업 주식회사 (ZUUZF)는 주주들이 2024년 12월 19일에 열린 특별 회의에서 자회사 켈소 광업 주식회사와의 합의 계획을 승인했다고 발표했습니다. 이 합의는 브리티시컬럼비아에 있는 클로르 자산을 켈소로 분할하는 내용을 포함하고 있습니다. 32.25%의 보통주 (19,093,499주)가 투표되었으며, 모두 찬성했습니다.
이 합의에 따라, 주주들은 보유한 제우스 주식 150주당 켈소 주식 1주를 받게 됩니다. 완료되면, 주주들은 아이오다주 내 재산(쿠디 마운틴, 셀웨이 및 그레이트 웬스터)에 집중하는 제우스와 클로르 자산에 집중하는 켈소의 주식을 소유하게 됩니다. 이 합의는 브리티시컬럼비아 대법원의 승인을 요하며, 청문회는 2025년 1월 7일로 예정되어 있습니다.
Zeus North America Mining Corp. (ZUUZF) a annoncé que les actionnaires ont approuvé le plan d'arrangement avec sa filiale Kelso Mining Inc. lors de la réunion spéciale tenue le 19 décembre 2024. L'arrangement prévoit la cession de la Chlore Property en Colombie-Britannique à Kelso. 32,25% des actions ordinaires (19,093,499) ont été votées, toutes en faveur.
Selon l'arrangement, les actionnaires recevront une action Kelso pour chaque 150 actions Zeus détenues à la date d'enregistrement de la distribution des actions. Une fois finalisé, les actionnaires posséderont des actions à la fois de Zeus, axé sur les propriétés de l'Idaho (Cuddy Mountain, Selway et Great Western), et de Kelso, axé sur la Chlore Property. L'arrangement nécessite l'approbation de la Cour suprême de Colombie-Britannique, une audience étant prévue pour le 7 janvier 2025.
Zeus North America Mining Corp. (ZUUZF) hat bekannt gegeben, dass die Aktionäre den Plan zur Regelung mit ihrer Tochtergesellschaft Kelso Mining Inc. auf der außerordentlichen Sitzung am 19. Dezember 2024 genehmigt haben. Die Regelung sieht die Abspaltung der Chlore Property in British Columbia zu Gunsten von Kelso vor. 32,25% der Stammaktien (19.093.499) wurden abgestimmt, alle dafür.
Im Rahmen der Regelung erhalten die Aktionäre eine Kelso-Aktie für jeweils 150 gehaltene Zeus-Aktien am Stichtag für die Aktienverteilung. Nach Abschluss werden die Aktionäre Anteile sowohl an Zeus, das sich auf die Immobilien in Idaho konzentriert (Cuddy Mountain, Selway und Great Western), als auch an Kelso, das sich auf die Chlore Property konzentriert, besitzen. Die Regelung bedarf der Genehmigung des Obersten Gerichtshofs von British Columbia, mit einer Anhörung, die für den 7. Januar 2025 anberaumt ist.
- Unanimous shareholder approval for the spinoff arrangement
- Diversification of assets through creation of two distinct public companies
- Shareholders maintain exposure to all assets through share distribution
- Low shareholder participation rate (32.25%) in the special meeting
- 150:1 share distribution ratio may result in fractional holdings for smaller investors
VANCOUVER, BC / ACCESSWIRE / December 20, 2024 / Zeus North America Mining Corp. (CSE:ZEUS)(OTCQB:ZUUZF)(FRANKFURT:O92) (the "Company" or "Zeus") reports that on December 19, 2024 at the special meeting (the "Meeting") its shareholders 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.
A total of 19,093,499 (
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 "Share Distribution Record Date"), which will be determined by Zeus's Board of Directors and announced by a news release in advance.
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.
Completion of the Arrangement is subject to the approval of the Supreme Court of British Columbia and the final acceptance by the Canadian Securities Exchange. The Court hearing to approve the Arrangement will take place on January 7, 2025.
The disclosure regarding the Arrangement is provided in the Company's information circular dated November 5, 2024 and the news release dated August 26, 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
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