VANCOUVER, British Columbia, July 27, 2017 (GLOBE NEWSWIRE) -- Anacott Resources Corp. (“Anacott” or the “Company”) is pleased to announce the results of its Annual General and Special Meeting of shareholders held today in Vancouver (the “Meeting”). At the Meeting, shareholders voted 99.69% in favour of the spin out of Silverstone Resources Corp., Buckingham Copper Corp., Stowe One Investments Corp., Lillingstone Metals Inc., 2583262 Ontario Inc., Chackmore Unit Trust and Akeley Unit Trust (collectively, the “Spin-Cos”).
Under the terms of the proposed spin-out to be completed through a statutory plan of arrangement (“Plan of Arrangement”), the shareholders of Anacott will receive common shares or trust units, as applicable, of the Spin-Cos by way of a share exchange (the “Share Exchange”). Pursuant to the Share Exchange each Anacott shareholder will receive the following in exchange for each existing common share of Anacott: 1.00 new Anacott common share; 1.00 Silverstone Resources Corp. common share; 0.71 of a Buckingham Copper Corp. common share, 0.71 of a Stowe One Investments Corp. common share; 0.71 of a Lillingstone Metals Inc. common share; 0.71 of a 2583262 Ontario Inc. common share; 0.71 of a Chackmore Unit Trust trust unit; and 0.71 of a Akeley Unit Trust trust unit.
The spin-out transaction remains subject to final court approval and is expected to be completed on or about July 28, 2017.
In addition, the Company is pleased to announce the re-election of Dr. Fletcher Morgan, Candice Williams and Catalin Chiloflischi as directors at today’s Meeting. At the Meeting shareholders also re-appointed D&H Group LLP, Chartered Professional Accountants as auditors for the Company for the ensuing year, set the number of directors to be elected at the Meeting at three and approved an amendment to the Company’s articles.
This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the completion of the Plan of Arrangement and associated matters. Although the Company believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct or enduring. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks related to factors described in the Company’s most recently filed Management Information Circular. The statements in this press release represent the expectations of Anacott as of the date of this press release and, accordingly, are subject to change after such date. Readers are cautioned to not place undue reliance on forward-looking information. The Company does not undertake to update this information at any particular time except as required in accordance with applicable securities laws.
This press release is not an offer of the securities for sale in the United States. The securities have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
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