CORRECTION - Lancaster Resources to Spin-Off Nelson Lake through Plan of Arrangement
Full details of the Spin-Off, Nelson Lake, and the Nelson Lake Copper Project will be included in an information circular which will be distributed to Lancaster shareholders in advance of the Meeting.
- Full details of the Spin-Off, Nelson Lake, and the Nelson Lake Copper Project will be included in an information circular which will be distributed to Lancaster shareholders in advance of the Meeting.
- Pursuant to the Arrangement Agreement, the parties have agreed to a Plan of Arrangement whereby Lancaster will issue 550,000 Lancaster common shares with a deemed value of $0.06 each to Nelson Lake in exchange for 1,650,000 Nelson Lake shares at a deemed value of $0.02 each.
- Approximately 1,000,000 common shares of Nelson Lake (the “Dividend Shares”) will be distributed to Lancaster shareholders at the Transaction's closing.
- Lancaster Shareholders holding shares as of the Record Date will receive shares in Nelson Lake Copper Corp. in addition to shares held in Lancaster.