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FURA - Fura Gems Inc News Story

C$0.145 0.0  0.0%

Last Trade - 27/10/20

Sector
Basic Materials
Size
Micro Cap
Market Cap £n/a
Enterprise Value £n/a
Revenue £n/a
Position in Universe th / 2698

Fura Completes Amalgamation Transaction

Wed 28th October, 2020 12:30pm
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TORONTO, Oct. 28, 2020 (GLOBE NEWSWIRE) -- Fura Gems Inc. (“Fura” or the
“Company”) (TSXV: Fura, OTC: FUGMF and FRA: BJ43) is pleased to announce
the successful completion of its previously announced amalgamation (the
“Amalgamation”) with 2771063 Ontario Inc., a wholly owned subsidiary of
Lord of Seven Hills Holdings FZE (the “Purchaser”). The Amalgamation was
approved by the shareholders of the Company (the “Shareholders”) at the
Company’s annual and special meeting of Shareholders held on October 6,
2020. The Amalgamation was completed pursuant to the Business Corporations Act
(Ontario), on the terms set out in the acquisition agreement dated August 14,
2020. Pursuant to the Amalgamation, each outstanding common share of Fura (the
“Common Shares”), other than Common Shares already held by the Purchaser,
were cancelled and exchanged for a redeemable preferred share of the
amalgamated corporation on a one-for-one basis and each redeemable preferred
share is being redeemed for cash consideration of CAD$0.15 per share.

Shareholders who have questions or require assistance with submitting their
Common Shares in connection with the Amalgamation may direct their questions
to TSX Trust Company, which is acting as depository for the Amalgamation, toll
free at 1-866-600-8569 or by email at tmxeinvestorservices@tmx.com. Further
information regarding the Amalgamation is available in the management
information circular of the Company dated September 4, 2020, which is
available under Fura’s SEDAR profile at www.sedar.com.

Delisting and Reporting Issuer Status

It is anticipated that the Common Shares will be delisted from the TSX Venture
Exchange on or about October 30, 2020. The Company will apply to the Canadian
securities regulatory authorities to cease to be a “reporting issuer”
under applicable Canadian securities legislation. Once the Company ceases to
be a reporting issuer, the Company will no longer be subject to the ongoing
continuous disclosure and reporting obligations currently imposed upon the
Company as a reporting issuer under such legislation.

For Further Information Contact:

 Fura Gems Inc.                                                                                        
 Dev Shetty – President & Chief Executive Officer    Tel: +971 (0) 4 240 8760 dev.shetty@furagems.com  

 

(https://www.globenewswire.com/NewsRoom/AttachmentNg/bcafd04e-8af5-4afb-b4d6-ceda9d30d295)



GlobeNewswire, Inc. 2020
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