Amalgamation Vote day

Highly prospective exploration company

Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.

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rocknroller

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Amalgamation Vote day

posted on Apr 12, 2021 08:45AM

A reminder that this is supposed to be the day Scozinc 'shareholders' vote on the amalgamation with Fancamp.

Scozinc’s press release about todays vote characterized this transaction as an amalgamation.

“ScoZinc Mining Ltd. (TSX-V: SZM) (“ScoZinc” or the “Company”) reminds holders of its common shares, options, warrants and RSUs (the “ScoZinc Securityholders”) of the extraordinary general meeting of ScoZinc Securityholders to be held on April 12, 2021 (the “EGM”), at which the ScoZinc Securityholders will be asked to consider and, if thought advisable, pass a special resolution approving a plan of arrangement under Section 288 of the BC Business Corporations Act (the “Arrangement”) which will result in ScoZinc becoming a wholly owned subsidiary of Fancamp Exploration Ltd. (“Fancamp”) by amalgamating with an existing wholly owned subsidiary of Fancamp (the “Transaction”). “

The BCSC business corporations act says in 288 that a business arrangement may be proposed in a number of ways. 288 1(c) is ‘an amalgamation of the company with one or more corporations.’

288 2 then says to adopt 288 1 you have to follow the procedures in 289 and 291. 289 requires a shareholder vote, and 291 requires certification from the court.