GoviEx Uranium Inc (TSX-V:GXU, OTCQB:GVXXF) reported that it has completed its previously announced plan of arrangement with Tombador Iron, making GoviEx a wholly owned subsidiary of Tombador.
Under the transaction, the combined entity will operate as a uranium exploration and development company to be re-listed by November 20 on the Australian Securities Exchange under the name Atomic Eagle, with the ticker symbol ‘AEU.’
According to the company, the arrangement received strong support from GoviEx securityholders at a special meeting held in October. Approximately 98.7% of votes cast by shareholders and 99.2% of votes cast by all securityholders supported the deal, surpassing the required two-thirds majority.
The Supreme Court of British Columbia granted final approval on November 5.
Under the terms of the agreement, each GoviEx common share will be exchanged for 0.2534 fully paid ordinary shares of Tombador. GoviEx optionholders and warrantholders will receive equivalent replacement options in Tombador.
GoviEx’s shares are expected to be delisted from the TSX Venture Exchange and the OTCQB Venture Market at the close of business on November 14.
The company will also apply to cease being a reporting issuer in Canada.
Registered shareholders are advised to submit their share certificates or direct registration system advices, along with a letter of transmittal, to Computershare Investor Services to receive their new Tombador shares.
Non-registered shareholders are instructed to contact their brokers or custodians for assistance. Holding statements for new shares and replacement options will be issued following completion of the exchange.