Crystal Lake Mining Corporation Announces the Particulars of the "Due Bills" Trading with Respect to the Plan of Arrangement
Crystal Lake Mining Corporation Announces
the Particulars of the "Due Bills" Trading with
Respect to the Plan of Arrangement
VANCOUVER
,
Jan. 28, 2020
/CNW/ -
Crystal Lake Mining Corporation (TSXV: CLM / OTC:
SIOCF / FSE: SOG-FF)
("
Crystal Lake
" or the "
Company
") further to its news release dated
January 13, 2020
is pleased to announce the particulars of the "Due Bills" trading with respect to
the plan of arrangement (the "
Arrangement
") among the Company, Sassy Resources Corporation
(
"Spinco"
) and the shareholders of the Company.
The Payable Date, Record Date, Due Bill Trading Date, Ex-Distribution Date and Due Bill
Redemption Date will be as set forth below.
Distribution per Share:
The number of Spinco shares that is equal to 10,000,000 (ten million) divided by
the total number of issued and outstanding Company shares as of the close of
business on Record Date
Payable Date:
February 18, 2020
Record Date:
February 10, 2020
Due Bill Trading Date:
February 7, 2020
Ex-Distribution Date:
February 19, 2020
Due Bill Redemption Date:
February 20, 2020
The final number of Spinco shares that will be distributed per one Company share pursuant to the
Arrangement will be published in a subsequent news release following the close of business on
February 10, 2020
(Record Date) and prior to
February 19, 2020
(Ex-Distribution Date).
No fractional shares of Spinco will be distributed to shareholders and, as a result, all fractional
amounts arising under the Arrangement will be rounded down to the nearest whole number without
any compensation therefor.
DUE BILL TRADING:
The Company has declared a distribution, per one common share held in the Company, of the
number of Spinco shares that is equal to 10,000,000 (ten million) divided by the total number of
issued and outstanding Company shares as of the close of business on
February 10, 2020
, which is
payable on
February 18, 2020
to shareholders of record as of the close of business on
February 10,
2020
. The common shares of the Company will commence trading on a "due bill" basis effective
from the opening on
February 7, 2020
until
February 18, 2020
inclusively. Sellers of the shares from
February 7, 2020
to and including
February 18, 2020
will not be entitled to the distribution. The
shares will commence trading on an ex-distribution basis effective at the opening on
February 19,
2020
.
Additional information regarding the terms of the Arrangement are set out in
Crystal Lake's
management information circular dated
August 23, 2019
, and the news releases dated
June 25,
2019
,
July 26, 2019
,
October 1, 2019
,
October 4, 2019
and
January 13, 2020
, all of which are
available for viewing on
Crystal Lake's
SEDAR profile at
www.sedar.com
.
About
Crystal Lake
Crystal Lake Mining is a Canadian-based junior exploration company focused on building shareholder
value through high-grade discovery opportunities in
British Columbia
and
Ontario
. The Company has
an option to earn a 100% interest in the Newmont Lake Project, one of the largest land packages
among juniors in the broader Eskay region in the heart of Northwest B.C.'s Golden Triangle.
On Behalf of the Board of Directors,
CRYSTAL LAKE
MINING CORP.
"Maurizio Napoli"
President, Director
Email:
www.crystallakemining.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release
SOURCE
Crystal Lake Mining Corporation
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/January2020/28/c0800.html
%SEDAR: 00029065E
For further information:
MarketSmart Communications, Tel: +1 (604) 261-4466, Toll Free: +1
(877) 261-4466, Email: [email protected]; Momentum Public Relations, Tel: +1 (514) 815-7473,
Email: [email protected]
CO: Crystal Lake Mining Corporation
CNW 09:00e 28-JAN-20