Pursuant to a resolution passed by shareholders on May 16, 2016, Otterburn Resources Corp. has consolidated its capital on a 1:3 basis. The name of the company has also been changed.
The TSX Venture Exchange has accepted for filing the company's reverse takeover, which includes a merger agreement dated April 15, 2016, among the company, Cada International Ltd., OBN Subco (a wholly subsidiary of Otterburn) and K92 Holdings International Ltd. K92 Holdings holds 100 per cent of K92 Mining Ltd. which holds (by agreement closed March 6, 2015) mineral rights to the Kainantu property located in the Eastern Highlands province of
Papua New Guinea.
The exchange has been advised that the above transaction, approved by shareholders on May 16, 2016, has been completed on May 20, 2016.
Effective at the opening on Wednesday, May 25, 2016, the common shares of K92 Mining Inc. will commence trading on the TSX Venture Exchange, and the common shares of Otterburn Resources will be delisted. The company is classified as a mining company.
Further information on the transaction can be found in the company's information circular dated April 15, 2016, and news releases from Aug. 25, 2014, to May 20, 2016.
Postconsolidation and post-RTO
capitalization: unlimited shares with no par value of which
75,572,752 shares are issued and outstanding
Escrow: 32,430,333 shares subject to Tier 1 value escrow
Transfer agent: TMX Equity Transfer Services
Old symbol: OBN
New symbol: KNT
New Cusip No.: 499113108
© 2024 Canjex Publishing Ltd. All rights reserved.