Skeena Resources acquisition of Mount Rainey Silver
The TSX Venture Exchange has accepted for filing documentation in connection with an arrangement agreement between Skeena Resources Ltd. and Mount Rainey Silver Inc. dated Aug. 9, 2016, pursuant to which the Skeena has agreed to acquire all of the issued and outstanding common shares of Mount Rainey by way of a plan of arrangement under the Business Corporations Act (British Columbia). Under the agreement, Skeena agreed to issue 5.65 common shares in the capital of the company in exchange for each Mount Rainey common share held by a Mount Rainey shareholder. A total of 25,089,576 shares were issued pursuant to the transaction, and a further 1.45 million shares were issued in connection with the transfer of properties to Mount Rainey and extinguishment of certain liabilities of Mount Rainey.
The exchange has been advised that approval of the transaction was received from the Supreme Court of British Columbia on Sept. 12, 2016.
The arrangement became effective on Sept. 23, 2016.
https://www.skeenaresources.com/news/2016
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