The
TSX Venture Exchange has approved a plan of arrangement between Bonterra Resources Inc. and Gatling Exploration Inc. The plan of arrangement was approved by a special resolution of shareholders and optionholders at a meeting held on Sept. 18, 2018, and was approved by final order of the Supreme Court of British Columbia on Sept. 20, 2018. The plan of arrangement was completed on Sept. 24, 2018.
Pursuant to the plan of arrangement, Bonterra's Larder Lake property and $7-million were spun out to the company's shareholders through Gatling as described in the company's information circular dated Aug. 15, 2018. Under the terms of the plan of arrangement, the company's shareholders of record as of the close of business on Friday, Sept. 21, 2018, will receive common shares of Gatling on the basis of one Gatling share for every seven common shares of the company held. Optionholders of the company will have the exercise price of their options adjusted to take into account the distribution of Gatling shares. Gatling has applied for listing on the TSX-V.
Metanor transaction
Pursuant to a director's resolution of the company dated July 20, 2018, and a final court order dated Sept. 21, 2018, issued by the Superior Court of Quebec, Metanor Resources Inc. and Bonterra have completed a plan of arrangement under the Canada Business Corporations Act. The Metanor plan of arrangement was completed on Sept. 24, 2018, immediately following completion of the Gatling arrangement, and has resulted in the company acquiring all of the issued and outstanding shares of Metanor in exchange for the company issuing to Metanor shareholders 1.6039 common shares of Bonterra for each Metanor share held. Optionholders of Metanor received replacement options of Bonterra adjusted to take into account the Metanor plan of arrangement but otherwise having substantially the same terms as the options held by them in Metanor. Metanor shares are expected to be delisted from the TSX-V at close of market on Sept. 25, 2018.
Posttransactions
Capitalization: unlimited common shares with no par value of which
397,498,708 common shares are issued and outstanding
Transfer agent: Computershare Investor Services Inc.
Symbol: BTR (unchanged)
Cusip No.: 09852X305 (unchanged)
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