Prophecy and Pacific Coast Nickel Announce Respective Shareholder Meeting to Approve Spin Off Transaction

Prophecy Resource (TSXV:PCY,OTC:PRPCF,FRA:1P2) and Pacific Coast Nickel (TSXV:NKL) the sale of two of Prophecy’s projects to PCNC.

The press release is quoted as saying,

The sale of the Projects will be implemented by way of a plan of arrangement under the Business Corporations Act (British Columbia) (the “Arrangement”). In connection with the Arrangement, Prophecy has obtained an interim court order from the British Columbia Supreme Court on April 29, 2011. A joint management information circular containing detailed disclosure n respect of the Arrangement has been prepared by the Companies and will be mailed to shareholders of the Companies in early May.

For the complete press release, click here.