QUESTEX GOLD & COPPER LTD. ("QEX")
BULLETIN TYPE: -Plan of Arrangement, Delist, Remain Halted
BULLETIN DATE: June 1, 2022
TSX Venture Tier 1 Company
Further to QuestEx Gold & Copper Ltd.'s ("QuestEx" or the "Company") news releases dated March 30, 2022, May 6, 2022, May 26, 2022 and June 1, 2022, the Company has completed a plan of arrangement (the "Arrangement") with Skeena Resources Limited ("Skeena") (TSX: SKE). Pursuant to the Arrangement, Skeena acquired all of the Company's common shares not already held by Skeena in exchange for common shares of Skeena based on an exchange ratio equal to 0.0367 of a Skeena share plus C$0.65 cash for each share of QuestEx outstanding (other than QuestEx shares already held by Skeena or an affiliate of Newmont Corporation (the "Newmont Affiliate")), representing a total of 1,058,597 common shares of Skeena and C$18,749,215.55 in cash. The Newmont Affiliate received a promissory note from Skeena representing the consideration otherwise payable to the Newmont Affiliate in respect of its QuestEx shares.
The Arrangement was approved by the Company's shareholders at a special shareholders' meeting held on May 25, 2022. The TSX Venture Exchange (the "Exchange") has been advised that the Supreme Court of British Columbia provided its final order approving the plan of arrangement on May 30, 2022. The closing of the arrangement occurred on June 1, 2022.
As a result of the completion of the Arrangement, the common shares of the Company will be delisted from TSX Venture Exchange effective at the close of business on Thursday June 2, 2022. Further to the Exchange Bulletin dated June 1, 2022, trading in the shares of the Company will remain halted while the Company remains listed on the Exchange.
For more information, please consult the Company's Management Information Circular dated April 22, 2022, which is available on SEDAR.
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