GENESIS METALS CORP. ("GIS")
BULLETIN TYPE: Plan of Arrangement-, Delist
BULLETIN DATE: July 14, 2022
TSX Venture Tier 2 Company
Plan of Arrangement
TSX Venture Exchange has accepted for filing an arrangement agreement dated April 27, 2022 (the "Agreement") between Genesis Metals Corp. (the "Company") and Northern Superior Resources Inc. ("Northern Superior"). On July 13, 2022, pursuant to the terms of the Agreement and a court-approved plan of arrangement under Section 288 of the Business Corporations Act (British Columbia), Northern Superior completed the acquisition of all of the issued and outstanding securities of the Company (the "Arrangement").
Pursuant to the Arrangement, former shareholders of the Company received 0.2304 (the "Exchange Ratio") Northern Superior common shares (each whole common share, a "Northern Superior Share") for each common share of the Company held.
The Arrangement was approved by the Company's securityholders at a special meeting held on July 7, 2022. The Arrangement was approved by the Supreme Court of British Columbia on July 11, 2022 and the Arrangement closed on July 13, 2022.
For further details, please refer to the Company's information circular dated June 6, 2022 and the Company's news releases dated April 27, 2022, June 29, 2022, July 11, 2022 and July 13, 2022, each of which is available on SEDAR.
Delist
Further to the closing of the Arrangement, effective at the close of business on Friday July 15, 2022, the common shares of the Company will be delisted from TSX Venture Exchange at the request of the Company.
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