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Western Uranium Corp. (CSE:WUC) announced that it has completed the previously announced takeover bid of Black Range Mineral Ltd. The agreement saw Western acquire all of the issued shares of Black Range, with Black Range shareholders being issued shares of Western on a 1 for 750 basis.
Western Uranium Corp. (CSE:WUC) announced that it has completed the previously announced takeover bid of Black Range Mineral Ltd. The agreement saw Western acquire all of the issued shares of Black Range, with Black Range shareholders being issued shares of Western on a 1 for 750 basis.
As quoted in the press release:
As disclosed in a news release dated March 23, 2015, Western and Black Range entered into a definitive Merger Implementation Agreement, pursuant to which Western agreed to acquire all of the issued shares of Black Range by way of Scheme of Arrangement under the Australian Corporation Act 2001 (Cth) (the “Transaction”), with Black Range shareholders being issued shares of Western on a 1 for 750 basis. In addition, Western agreed to acquire all of the issued options to acquire Black Range shares by private treaty, with Black Range option holders being issued options to acquire Western shares (the “Options”) on the same 1 for 750 basis.
As consideration for all of the securities of Western held by Black Range, the Company issued a total of 4,173,299 Western shares and a total of 271,996 Options. The Options replace previously issued options for Black Range shares that were granted for services from directors and consultants of Black Range. The Options have the following exercise prices and expiration dates:
Click here to read the full Western Uranium Corp. (CSE:WUC) press release.