VANCOUVER, British Columbia , Dec. 05, 2017 (GLOBE NEWSWIRE) -- Remo Resources Inc. (TSX-V:RER) (the “Company” or “Remo”), is pleased to announce that its Filing Statement dated as of November 29, 2017 has been filed on SEDAR and may be viewed under the Company’s profile at www.sedar.com. The Filing Statement describes the Company’s proposed reverse takeover (the “Transaction”) with Chakana Copper Corp. (“Chakana”).
The Company has received conditional approval of the TSX Venture Exchange (the “Exchange”) to complete the Transaction, subject to closing of the Transaction by not later than February 28, 2018 and completion of certain other filings. The Transaction will constitute a Reverse Takeover of Remo pursuant to Policy 5.2 – Changes of Business and Reverse Takeovers of the Exchange.
Completion of the Transaction remains subject to a number of conditions, including final approval of the Exchange and the approval of the shareholders of the Company and Chakana. The Company will be seeking shareholder approval of the Transaction by written consent. Chakana shareholders will consider the Transaction at a special meeting to be held on December 8, 2017.
The shares of the Company were halted effective October 5, 2017 and will remain halted until the completion of the Transaction. On closing of the Transaction, the Company will change its name to “Chakana Copper Corp.” and is expected to resume trading on the Exchange under the symbol “PERU”.
Additional information concerning the Transaction, Remo and Chakana is provided in the Company’s Filing Statement.
