Buccaneer and Strategic have obtained conditional approval of the
Transaction Update
The parties have made significant progress with respect to the Transaction and have obtained conditional approval of the
Buccaneer is also pleased to report that all matters submitted to shareholders in connection with the Transaction were approved at its special meeting of shareholders held on
Amendment Agreement
Buccaneer and Strategic have entered into an amendment agreement (the 'Amendment Agreement') to the share exchange agreement dated
Consideration for Buccaneer Shareholders
As consideration for Buccaneer for the Transaction and pursuant to the terms of the Agreement, on closing the resulting issuer will issue an aggregate of approximately 1,551,083 warrants to acquire resulting issuer common shares ('Buccaneer Payment Warrants') to the shareholders of Buccaneer of record on the day prior to closing (one (1) Buccaneer Payment Warrant for every four (4) post-consolidation common shares of Buccaneer held).
Each Resulting Issuer Warrant will be exercisable into one common share of the resulting issuer at an exercise price of
Trading Halt
Buccaneer's common shares are currently halted from trading on the CSE and are not expected to resume trading until the Transaction is completed and the common shares commence trading on the NEO. Completion of the Transaction is subject to a number of conditions that are customary for a transaction of this nature, more fully described in Buccaneer's press release of
About
Buccaneer is a mineral exploration company focused on the acquisition, exploration, and development of mineral properties. Pursuant to securities legislation, Buccaneer is a 'reporting issuer' in
About
Contact:
Tel: 416 628-2881
Email: buccaneergoldcorp@gmail.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This news release contains 'forward-looking information' and 'forward-looking statements' (collectively, 'forward-looking statements') within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as 'expects', or 'does not expect', 'is expected', 'anticipates' or 'does not anticipate', 'plans', 'budget', 'scheduled', 'forecasts', 'estimates', 'believes' or 'intends' or variations of such words and phrases or stating that certain actions, events or results 'may' or 'could', 'would', 'might' or 'will' be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, to: the terms and conditions of the proposed Transaction; the terms and conditions of the Non-Brokered Offering; receipt of all regulatory licenses required for mining exploration activities abroad; use of proceeds raised in the Non-Brokered Offering, the proposed officers and directors of the Resulting Issuer and the business and operations of the Resulting Issuer after the consummation of the proposed Transaction. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties and the delay or failure to receive board, shareholder or regulatory approvals. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release.
Strategic's and Buccaneer's operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.
(C) 2021 Electronic News Publishing, source