TSX Venture Exchange Symbol: AAL
In addition to the approval of the Arrangement, all proposed director nominees were duly elected as directors of the Company for the ensuing year. The directors are
Holders of a total of 80,569,526 Advantage Shares were represented in person or by proxy at the Meeting, which constituted a quorum of Shareholders, and represented 49.49% of the 162,806,792 issued and outstanding Advantage Shares entitled to vote as of
The Arrangement Resolution required the approval of: (i) not less than two-thirds (66⅔%) of the votes cast by Shareholders present in person or represented by proxy at the Meeting; and (ii) a simple majority of the votes cast by Shareholders present in person or represented by proxy at the Meeting after excluding the votes cast by certain persons whose votes were required to be excluded pursuant to Multilateral Instrument 61- 101- Protection of Minority Security Holders in Special Transactions ("MI 61-101").
Of the votes cast at the Meeting, 99.80% of the votes cast by Shareholders were in favour of the Arrangement Resolution (99.27% after excluding the votes cast by those persons whose votes were required to be excluded in determining minority approval for the Arrangement pursuant to MI 61-101).
The Company will be seeking a final order (the "Final Order") of the
Completion of the Arrangement is subject to the satisfaction of certain other closing conditions customary for a transaction of this nature. Assuming that the conditions to closing are satisfied or waived, it is expected that the Arrangement will be completed before market open on
About Advantage
Further information about the Company can be found at www.advantagelithium.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF ADVANTAGE LITHIUM CORP. "Callum Grant"
|
Cautionary Statement:
Certain information in this news release is considered forward-looking within the meaning of certain securities laws and is subject to important risks, uncertainties and assumptions. This forward-looking information includes, among other things, information with respect to the Company's beliefs, plans, expectations, anticipations, estimates and intentions. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "assuming", "will", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes the Company's expectations as of the date of this news release. Forward-looking statements in this news release include, but are not limited to statements with respect to receipt of the final order, the closing of the Arrangement, the anticipated consideration to be received by Shareholders, the satisfaction of closing conditions, and the delisting of Advantage Shares from the
The results or events anticipated or predicted in such forward-looking information may differ materially from actual results or events. Material factors which could cause actual results or events to differ materially from such forward-looking information include, among others, risks arising from general economic conditions; adverse industry events; inability to realize anticipated synergies; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; income tax and regulatory matters; the COVID-19 pandemic; government and public responses to the COVID-19 pandemic; competition; currency and interest rate fluctuations and other risks.
The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME.
This announcement is for informational purposes only and does not constitute a solicitation or a proxy.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "
Neither
SOURCE
© Canada Newswire, source