Mineral Exploration Arrangement
Search documents
Rugby Resources Ltd. Provides Update on Arrangement with Pampa Metals
Globenewswire· 2025-07-08 10:30
Core Viewpoint - Rugby Resources Ltd. is moving forward with a Special Meeting for shareholders to vote on a Statutory Plan of Arrangement involving the acquisition by Pampa Metals Corp. [1][2][6] Group 1: Arrangement Details - The Arrangement involves Rugby shareholders receiving one common share of Pampa Metals for every 6.4 Rugby Shares held, along with one Aegis Share for every 10 Rugby Shares held [2] - Aegis Resources Ltd. will hold a 20% free-carried interest in the Cobrasco project in Colombia, along with interests in other mineral projects in Chile and Australia [4] - The Arrangement requires at least two-thirds (66⅔%) approval from the votes cast by Rugby shareholders present at the Meeting [3] Group 2: Management and Recommendations - The board of directors of Rugby unanimously recommends that shareholders vote in favor of the Arrangement Resolution, deeming it fair and in the best interest of Rugby [6] - Yale Simpson, Rugby's Chairman, expressed confidence that the management of Pampa Metals will quickly evaluate the Cobrasco project post-Arrangement [8] Group 3: Regulatory and Legal Aspects - Rugby has received conditional acceptance from the TSX Venture Exchange for the Arrangement and an interim order from the Supreme Court of British Columbia [7] - A final court hearing for the Arrangement is scheduled for July 22, 2025 [7] Group 4: Financial Aspects - Pampa Metals announced a non-brokered private placement LIFE Offering for gross proceeds of $6 million through the issuance of 37.5 million common shares at a price of $0.16 [8]