Brief: Fieldex Exploration Announces Entry Into Definitive Agreement With Copeland Biosciences Corp

Fokus Mining

28/05/2019 03:17

May 27 (Reuters) - Fieldex Exploration Inc  FLX.V :
    * FIELDEX EXPLORATION ANNOUNCES ENTRY INTO DEFINITIVE
AGREEMENT
WITH COPELAND BIOSCIENCES CORP. IN CONNECTION WITH A REVERSE
TAKE-OVER TRANSACTION
    * FIELDEX EXPLORATION- ENTERED BUSINESS COMBINATION
AGREEMENT WITH
COPELAND BIOSCIENCES CORP AND AN AMALGAMATION AGREEMENT WITH
COPELAND BIOSCIENCES AND 1209908 B.C. LTD
    * UPON CLOSING OF PROPOSED TRANSACTION, IT IS PROPOSED THAT
FIELDEX WILL BE LISTED ON CANADIAN SECURITIES EXCHANGE
    * FIELDEX EXPLORATION- UPON CLOSING OF PROPOSED TRANSACTION
FIELDEX WILL CONCURRENTLY DE-LIST FROM TSX VENTURE EXCHANGE AND
BE RENAMED COPELAND BIOSCIENCES CORP
    * FIELDEX EXPLORATION- PRIOR TO COMPLETION OF PROPOSED
TRANSACTION, 15.7 MILLION OF FIELDEX SHARES CURRENTLY ISSUED AND
OUTSTANDING WILL BE CONSOLIDATED ON A 6.715 FOR ONE BASIS
    * FIELDEX EXPLORATION- CONSOLIDATION RATIO MAY BE ADJUSTED
TO
HIGHER RATIO IN EVENT WORKING CAPITAL DEFICIENCY OF FIELDEX
EXCEEDS $200,000 AT TIME OF CLOSING OF PROPOSED DEAL
    * FIELDEX EXPLORATION- FORMER COPELAND BIOSCIENCES
SHAREHOLDERS
WILL RECEIVE ONE POST-CONSOLIDATION COMMON SHARE IN CAPITAL OF
RESULTING ISSUER IN EXCHANGE FOR EACH CBC SHARE
    * FIELDEX EXPLORATION- COPELAND BIOSCIENCES WILL ALSO
UNDERTAKE A
PLACEMENT OF SUBSCRIPTION RECEIPTS AT A PRICE OF $0.30 PER
SUBSCRIPTION RECEIPT

Source text for Eikon:  ID:nCNWJSYdqa 
Further company coverage:  FLX.V 

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