Mr. David Wolfin of Coral reports
CORAL FILES MEETING MATERIALS FOR ANNUAL GENERAL AND SPECIAL MEETING TO APPROVE PLAN OF ARRANGEMENT WITH NOMAD ROYALTY COMPANY LTD
Coral Gold Resources Ltd. obtained an interim order from the B.C. Supreme Court on Oct. 8, 2020, in connection with its previously announced statutory plan of arrangement under the Business Corporations Act (British Columbia) pursuant to which Nomad Royalty Company Ltd. will acquire all of the outstanding common shares of the company.
The interim order authorizes, among other things, Coral to call, hold and conduct an annual general and special meeting of holders of its common shares to consider, and if thought advisable, approve the proposed arrangement. In accordance with the interim order, the meeting will be held on Nov. 12, 2020, at 11 a.m. local time at 3200, 650 West Georgia St., Vancouver, B.C., V6B 4P7. The record date for determining the Coral shareholders entitled to receive notice of, and to vote at, the meeting is the close of business on Sept. 22, 2020.
Coral is also pleased to report that it has filed the notice of meeting and information circular and related voting materials on SEDAR in connection with the meeting.
In addition to Coral shareholder and court approvals, the closing of the arrangement is subject to regulatory approvals and closing conditions customary in transactions of this nature, including approval of the arrangement by the TSX Venture Exchange and approval of the Toronto Stock Exchange for the listing of the Nomad common shares and common share purchase warrants to be issued in connection with the arrangement. Assuming these conditions are satisfied or waived, the arrangement is expected to close on or about Nov. 19, 2020.
The final hearing for the court's approval of the arrangement will be held on Nov. 16, 2020.
Further information regarding the arrangement, including copies of the meeting materials, are available under Coral's profile on SEDAR.
Coral's financial adviser in respect of the arrangement is Cantor Fitzgerald Canada Corp. The independent fairness opinion for Coral was prepared by PI Financial Corp.
No offer or solicitation
This announcement is for informational purposes only and does not constitute an offer to purchase or a solicitation of an offer to sell common shares of Coral or an offer to sell or a solicitation of an offer to buy common shares of Nomad.
About Coral Gold Resources Ltd.
Coral Gold Resources is a precious metals exploration company, where it has explored one of the world's richest gold districts in Nevada for over 30 years. The company's primary asset is a sliding scale net smelter returns production royalty on Barrick's Robertson property in Nevada. The company also holds a portfolio of strategically located exploration projects near Barrick's Pipeline/Cortez mine complex on Nevada's Battle Mountain/Cortez trend.
We seek Safe Harbor.
© 2021 Canjex Publishing Ltd. All rights reserved.