PLATEAU ENERGY METALS INC. ("PLU")
BULLETIN TYPE: Plan of Arrangement-, Delist
BULLETIN DATE: May 17, 2021
TSX Venture Tier 2 Company
TSX Venture Exchange Inc. (the "Exchange") has accepted for filing documentation in connection with a statutory plan of arrangement under the provisions of the Business Corporations Act (Ontario) (the "Arrangement") pursuant to which American Lithium Corp. (TSXV:LI) ("American Lithium") acquired all of the issued and outstanding shares of Plateau Energy Metals Inc. (the "Company"). The Arrangement was carried out pursuant to the terms of an arrangement agreement dated February 9, 2021.
The Exchange has been advised that the requisite approval of the Arrangement by the Company's shareholders was received at a special meeting of shareholders held on May 3, 2021, and that the Ontario Superior Court of Justice granted a final order with respect to the Arrangement on May 4, 2021. The Arrangement was completed on May 11, 2021. Under the Arrangement, each shareholder of the Company is entitled to receive 0.29 of a common share of American Lithium and 0.145 of a common share purchase warrant of American Lithium per each common share of the Company. Each whole common share purchase warrant will entitle the holder to acquire one American Lithium Share at a price of $3.00 until May 11, 2024.
In connection with the Arrangement, the Company issued a finder's fee equal to 2,666,666 common shares and $600,625 to an arm's length finder - Bedrock Capital Corporation.
Delisting:
Effective at the close of business on Tuesday, May 18, 2021, the shares of the Company will be delisted from the TSX Venture Exchange.
For further details, please refer to the Company's management information circular dated March 31, 2021, and news releases dated February 9, 2021, March 10, 2021, April 9, 2021, May 3, 2021, May 11, 2021.
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