Dr. Jaap Verbaas of Cavu reports
CAVU OBTAINS FINAL ORDER FOR PLAN OF ARRANGEMENT AND PROVIDES TRANSACTION UPDATE
On Dec. 15, 2022, Cavu Energy Metals Corp. obtained a final order from the Supreme Court of British Columbia approving the previously announced acquisition of Cavu by Alpha Copper Corp. by way of a plan of arrangement. Under the terms of the arrangement, Cavu shareholders will receive 0.7 common share in the capital of Alpha Copper for each Cavu share held.
The arrangement remains subject to the satisfaction or waiver of customary closing conditions and is expected to close on Dec. 19, 2022. Following completion of the arrangement, the common shares of Cavu are expected to be delisted from the Canadian Securities Exchange. An application is also expected to be made for the company to cease to be a reporting issuer in the applicable jurisdictions upon closing of the arrangement.
Information regarding the procedure for the exchange of Cavu shares for the consideration is provided in the company's management information circular dated Nov. 14, 2022. The circular and an accompanying letter of transmittal are available on SEDAR under the company's profile on SEDAR and on the company's website.
About Cavu Energy Metals Corp.
Cavu Energy Metals is a mining company engaged in the acquisition, exploration and development of mineral projects containing metals used in green technologies and the renewable energy sector. The company is currently focused on the exploration of its Hopper copper-gold project in Yukon and recently acquired Star copper-gold porphyry project in British Columbia.
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