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Austral Gold Ltd
Symbol AGLD
Shares Issued 566,070,265
Close 2021-02-05 C$ 0.20
Recent Sedar Documents

Revelo Resources acquisition by Austral Gold, delisting

2021-02-05 18:27 ET - Acquisition

See Shares Delisted from TSX-V (C-RVL) Revelo Resources Corp (2)

The TSX Venture Exchange has accepted for filing documentation in connection with an arrangement agreement between Austral Gold Ltd. and Revelo Resources Corp. dated Nov. 12, 2020. Pursuant to the agreement, Austral has agreed to acquire all of the issued and outstanding common shares of Revelo by way of a plan of arrangement under the provisions of the Business Corporations Act (British Columbia). Under the agreement, each Revelo shareholder will be entitled to receive: (i) 0.9184 ordinary share of Austral; and (ii) 3.045715 cents in cash for each common share of Revelo held.

The exchange has been advised that approval of the transaction by the Revelo shareholders was received at a special meeting of shareholders held on Jan. 28, 2021, and that approval of the transaction was received from the British Columbia Supreme Court on Feb. 2, 2021. The transaction completed on Feb. 4, 2021. The full particulars of the transaction are set forth in the management information circular of Revelo, dated as of Dec. 21, 2020, which is available under the Revelo profile on SEDAR.

In conjunction with the closing of the transaction, Revelo has requested that its common shares be delisted. Accordingly, effective at the close of business, Monday, Feb. 8, 2021, the common shares of Revelo will be delisted from the exchange.

Insider/pro group participation:  none

Prior to the closing of the transaction, Austral and Revelo were at arm's length.

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