Zeus North America Mining Corp. Announces Spin Out of the Chlore Property to Subsidiary by Plan of Arrangement
Zeus North America Mining Corp. (CSE:ZEUS)(OTCQB:ZUUZF)(FRA:O92) has announced a Plan of Arrangement to spin out its Chlore Property in British Columbia to its subsidiary, Kelso Mining Inc. Under the arrangement, Zeus shareholders will receive one Kelso share for every 150 Zeus shares owned on the yet-to-be-determined Share Distribution Record Date. This will result in shareholders owning shares in two public companies: Zeus, focusing on properties in Idaho, and Kelso, concentrating on the Chlore Property.
The completion of this arrangement is subject to shareholder approval, Supreme Court of British Columbia approval, and acceptance by the Canadian Securities Exchange. More details will be provided in an upcoming information circular mailed to shareholders before a special meeting.
Zeus North America Mining Corp. (CSE:ZEUS)(OTCQB:ZUUZF)(FRA:O92) ha annunciato un Piano di Riorganizzazione per scorporare il suo Chlore Property nella Columbia Britannica alla sua sussidiaria, Kelso Mining Inc. Sotto l'accordo, gli azionisti di Zeus riceveranno un'azione di Kelso per ogni 150 azioni di Zeus possedute nella Data di Registrazione della Distribuzione delle Azioni che deve ancora essere determinata. Ciò comporterà che gli azionisti possiederanno azioni in due aziende pubbliche: Zeus, focalizzata su proprietà in Idaho, e Kelso, concentrata sul Chlore Property.
Il completamento di questo accordo è soggetto all'approvazione degli azionisti, all'approvazione della Corte Suprema della Columbia Britannica e all'accettazione da parte della Borsa valori canadese. Maggiori dettagli verranno forniti in un prossimo circolare informativa inviata agli azionisti prima di una riunione straordinaria.
Zeus North America Mining Corp. (CSE:ZEUS)(OTCQB:ZUUZF)(FRA:O92) ha anunciado un Plan de Arreglos para escindir su Chlore Property en Columbia Británica a su filial, Kelso Mining Inc. Bajo el acuerdo, los accionistas de Zeus recibirán una acción de Kelso por cada 150 acciones de Zeus que posean en la Fecha de Registro de Distribución de Acciones, que aún debe determinarse. Esto resultará en que los accionistas posean acciones en dos empresas públicas: Zeus, enfocándose en propiedades en Idaho, y Kelso, concentrándose en el Chlore Property.
La finalización de este acuerdo está sujeta a la aprobación de los accionistas, la aprobación de la Corte Suprema de Columbia Británica, y la aceptación por parte de la Bolsa de Valores de Canadá. Se proporcionarán más detalles en un próximo circular informativa enviada a los accionistas antes de una reunión especial.
제우스 북미 광업 회사 (CSE:ZEUS)(OTCQB:ZUUZF)(FRA:O92)는 조정 계획을 발표하여 브리티시 컬럼비아의 클로어 자산을 자회사인 켈소 광업 주식회사로 분리한다고 밝혔습니다. 이 조정에 따라 제우스 주주들은 보유한 제우스 주식 150주당 켈소 주식 1주를 받게 됩니다. 이는 주주들이 아이오와의 자산에 집중하는 제우스와 클로어 자산에 집중하는 켈소라는 두 개의 상장 회사의 주식을 보유하게 되는 결과를 낳습니다.
이 조정의 완료는 주주 승인, 브리티시 컬럼비아 대법원 승인, 캐나다 증권 거래소의 수락을 조건으로 합니다. 더 많은 세부 사항은 특별 회의 전에 주주에게 발송되는 정보 순환서에 포함될 예정입니다.
Zeus North America Mining Corp. (CSE:ZEUS)(OTCQB:ZUUZF)(FRA:O92) a annoncé un Plan de Réorganisation pour scinder son Chlore Property en Colombie-Britannique à sa filiale Kelso Mining Inc. Dans le cadre de cette opération, les actionnaires de Zeus recevront une action de Kelso pour chaque 150 actions de Zeus possédées à la Date d'Enregistrement de Distribution des Actions qui reste à déterminer. Cela permettra aux actionnaires de détenir des actions dans deux entreprises publiques : Zeus, axée sur les propriétés dans l'Idaho, et Kelso, concentrée sur le Chlore Property.
L'achèvement de cet arrangement est soumis à l'approbation des actionnaires, à l'approbation de la Cour Suprême de Colombie-Britannique et à l'acceptation par la Bourse canadienne des valeurs mobilières. D'autres détails seront fournis dans un prochain document d'information qui sera envoyé aux actionnaires avant une réunion extraordinaire.
Die Zeus North America Mining Corp. (CSE:ZEUS)(OTCQB:ZUUZF)(FRA:O92) hat einen Umstrukturierungsplan angekündigt, um ihr Chlore-Eigentum in British Columbia an ihre Tochtergesellschaft Kelso Mining Inc auszugliedern. Im Rahmen des Plans erhalten Zeus-Aktionäre eine Kelso-Aktie für je 150 gehaltene Zeus-Aktien an dem noch festzulegenden Stichtag für die Aktienverteilung. Dies wird dazu führen, dass die Aktionäre Aktien in zwei öffentlichen Unternehmen besitzen: Zeus, das sich auf Immobilien in Idaho konzentriert, und Kelso, das sich auf das Chlore-Eigentum konzentriert.
Der Abschluss dieser Regelung unterliegt der Genehmigung der Aktionäre, der Genehmigung durch den Obersten Gerichtshof von British Columbia und der Akzeptanz durch die Canadian Securities Exchange. Weitere Einzelheiten werden in einem bevorstehenden Informationsrundschreiben an die Aktionäre vor einer außerordentlichen Hauptversammlung bereitgestellt.
- Diversification of assets through creation of two separate public companies
- Shareholders to receive shares in both Zeus and Kelso Mining Inc.
- Potential for increased focus on specific properties in each company
- Completion of the arrangement subject to multiple approvals and conditions
- Potential dilution of shareholder value in Zeus due to asset spin-off
- Uncertainty regarding the timeline for completion of the arrangement
VANCOUVER, BC / ACCESSWIRE / August 27, 2024 / Zeus North America Mining Corp. (formerly Umdoni Exploration Inc.) (CSE:ZEUS)(OTCQB:ZUUZF)(FRA:O92) (the "Company" or "Zeus") announces the Plan of Arrangement dated for reference August 26, 2024 (the "Arrangement") to spin out its Chlore Property located in the Omineca Mining Division of North-Central British Columbia to Zeus' subsidiary Kelso Mining Inc. ("Kelso").
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 a number of conditions, including the following:
the approval by the shareholders of Zeus by a special resolution at a special meeting (the "Meeting");
the approval of the Supreme Court of British Columbia; and
the acceptance of the Arrangement by the Canadian Securities Exchange.
The Arrangement cannot be completed until all the above conditions are met. A copy of the Arrangement will be posted on www.sedarplus.ca under the profile of the Company.
Additional details regarding the Arrangement will be included in the information circular of the Company, which will be mailed to the shareholders of Zeus prior to the Meeting.
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.
The Company is in the business of mineral exploration. The Company is focused on its exploration properties in the state of Idaho known as the: Cuddy Mountain; Selway; and Great Western properties, respectively. The Idaho properties consist of 82 (Cuddy Mountain), 57 (Selway) and 38 (Great Western) lode mining claims respectively and cover a cumulative area of approximately 3822.1 acres. The Company's flagship Cuddy Mountain Property is adjacent to Hercules Metal Corp's Leviathan Copper Porphyry discovery.
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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