Source: Streetwise Reports 07/03/2018
The transaction should go into effect following court approval.
Shareholders of URZ Energy Corp. (URZ:TSX.V; URZZF:OTC) and Azarga Uranium Corp. (AZZ:TSE) agreed, “by an overwhelming majority,” to all of the proposed resolutions described in the May 31, 2018, information circular, according to a news release.
It was agreed, according to the plan of arrangement, that URZ Energy shareholders will receive two shares of Azarga Uranium per each URZ Energy share held. Additionally, when outstanding options and warrants of URZ Energy are exercised in the future, they will be done so using this 2:1 ratio.
By way of voting, Azarga and URZ shareholders also agreed to, among others:
The Toronto Stock Exchange and TSX Venture Exchange conditionally approved the plan of arrangement for both entities. On July 4, 2018, the Supreme Court of British Columbia is expected to issue a final order of approval of the plan for URZ, and URZ’s shares will be delisted at trading’s close.
The Azarga-URZ merger should go into effect on or around July 5, 2018, assuming the court approves it and the conditions are met or waived.
Read what other experts are saying about:
- URZ Energy Corp.
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( Companies Mentioned: AZZ:TSE,
URZ:TSX.V; URZZF:OTC,
)