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Bonterra Resources receives court approval for spin-off

Last updated: 14:53 21 Sep 2018 BST, First published: 09:53 21 Sep 2018 BST

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The firm has received a final order of the Supreme Court of British Columbia

Bonterra Resources Inc (CVE:BTR) has received the final court approval for its so-called Bonterra arrangement.

The agreement involves the spinning out of certain assets of Bonterra to Gatling Exploration Inc, and was approved at a special meeting earlier this week.

Meanwhile, shareholder of Metanor Resources Inc also approved a plan of arrangement at a special meeting of the Metanor securityholders held earlier this week, it said.

Both arrangements remain subject to final approval by the TSX Venture Exchange and are expected to close on September 24 this year.

The Bonterra arrangement will be completed first, followed immediately by the Metanor arrangement.

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