TSRMF - Treasury Metals Announces Filing of Annual and Special Meeting Materials in Connection with Proposed Arrangement | Benzinga
Highlights:
- Treasury Metals is holding its Annual and Special Meeting of Shareholders on June 26, 2024 at 1:00 p.m. (Eastern Time)
- The Special Committee and Board of Directors of the Company Unanimously Recommend that Shareholders Vote FOR the matters relating to the Arrangement with Blackwolf Copper and Gold Ltd.
- Shareholders are encouraged to vote well in advance of the proxy voting deadline on June 24, 2024 at 1:00 p.m. (Eastern time)
TORONTO, June 05, 2024 (GLOBE NEWSWIRE) -- Treasury Metals Inc. (TSX:TML, OTCQX:TSRMF) ("Treasury Metals" or the "Company") announces that it has filed its notice of annual and special meeting of shareholders, management information circular (the "Circular") and related materials (together, the "Meeting Materials") with securities regulators. The Circular contains information regarding the annual and special meeting (the "Meeting") of the holders of common shares in the capital of the Company (the "Shareholders"), to be held on Wednesday June 26, 2024 at 1:00 p.m. (Eastern time) at the offices of Cassels Brock & Blackwell LLP, located at Suite 3200, Bay Adelaide Centre – North Tower, 40 Temperance Street, Toronto, Ontario, Canada.
On May 1, 2024, the Company entered into a definitive agreement with Blackwolf Copper and Gold Ltd. ("Blackwolf") pursuant to which the Company will acquire all of the common shares of Blackwolf ("Blackwolf Shares") pursuant to a statutory plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia). Each Blackwolf shareholder will be entitled to receive 0.607 of a common share (the "Arrangement Shares") in the capital of the Company for each Blackwolf Share held. The Arrangement will combine the two companies to advance the Company's Goliath Gold Complex Project in Ontario towards production with a strengthened leadership, balance sheet and capital markets team.
At the Meeting, Shareholders will be asked to consider and vote on, among other things: (1) the issuance of the Arrangement Shares, (2) the issuance of common shares pursuant to a concurrent non-brokered flow-through financing, (3) the continuance of the Company into British Columbia; (4) the election of non-Arrangement and post-Arrangement boards of directors; and (5) non-Arrangement and Arrangement omnibus equity incentive plans of the Company, all as set forth in greater detail in the Circular (collectively, the "Shareholder Resolutions").
Board Recommendation
The board of directors of the Company (the "Board"), based in part on the fairness opinion that ...