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Estrella Gold Corporation (TSXV:EST) announced positive results from the special shareholders meeting to approve the arrangement between Estrella and Tarsis Resources Ltd. (TSXV:TCC). The proposed arrangement, which was announced on February 11, will see Tarsis acquire all of Estrella’s outstanding shares.
As quoted in the press release:
As quoted in the press release:
99.36 percent of the shares represented at the special shareholder meeting held on April 8, 2015 were voted in favor of the Arrangement. Under this Arrangement shareholders will receive one common share of Tarsis for each Estrella share held. Immediately upon completion of the Arrangement, a share consolidation (one new for ten old) will take place and the combined company will change its name to Alianza Minerals Ltd. Alianza will have 10.8 million shares outstanding.
Shareholders also approved (99.75 percent in favor) a special resolution to authorize the Company, originally incorporated in Ontario, to become a British Columbia registered company.
The Arrangement is expected to close by April 30, 2015, along with a financing of up to 2 million dollars. Under the terms of the Offering, up to 8 million units will be sold at a price of $0.25 per unit. Each unit includes one share and one share purchase warrant valid for three years at a price of $0.40. Trading under the new name of Alianza Minerals Ltd. (TSXV:ANZ) will commence shortly after the close of the Arrangement.
Click here to read the Estrella Gold Corporation (TSXV:EST) press release
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