Abcourt Completes Acquisition of Pershimex by Merger
VAL D’OR, Quebec, May 11, 2023 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (TSX-V: ABI) (“Abcourt” or the “Corporation”) and Pershimex Resources Corporation (TSX-V: PRO) (“Pershimex”) are pleased to announce that Abcourt has completed the previously announced acquisition of all of the issued and outstanding common shares of Pershimex (the “Pershimex Shares”) by way of a three-cornered amalgamation (the “Amalgamation”) under the Canada Business Corporations Act.
- VAL D’OR, Quebec, May 11, 2023 (GLOBE NEWSWIRE) -- Abcourt Mines Inc. (TSX-V: ABI) (“Abcourt” or the “Corporation”) and Pershimex Resources Corporation (TSX-V: PRO) (“Pershimex”) are pleased to announce that Abcourt has completed the previously announced acquisition of all of the issued and outstanding common shares of Pershimex (the “Pershimex Shares”) by way of a three-cornered amalgamation (the “Amalgamation”) under the Canada Business Corporations Act.
- Pursuant to the Amalgamation, Abcourt acquired all of the issued and outstanding Pershimex Shares for a consideration (the “Exchange Ratio”) of 0.5712 of a common share of Abcourt (“Abcourt Shares”) for each outstanding Pershimex Share.
- Abcourt now owns 100% of the outstanding Pershimex Shares.
- On closing of the Amalgamation, Abcourt issued an aggregate of 79,294,373 Abcourt Shares to former Pershimex shareholders, who now hold approximately 18.5% of the 428,108,503 Abcourt Shares issued and outstanding, on an undiluted basis.