Strategic Metals Ltd. Announces Share Distribution Record Date in connection with Plan of Arrangement with Trifecta Gold Ltd.
TSX VENTURE: SMD
VANCOUVER, BC--(Marketwired - May 19, 2017) - Strategic Metals Ltd. (TSX VENTURE: SMD) ("Strategic" or the "Company") announces, further to its April 26, 2017 and April 27, 2017 news releases, that the TSX Venture Exchange (the "Exchange") has granted conditional approval for the listing of the common shares of Trifecta Gold Ltd. ("Trifecta") thereon pursuant to its Plan of Arrangement (the "Arrangement") with Strategic, subject to Trifecta satisfying all of the balance of the Exchange's conditions for listing.
As previously disclosed, under the Arrangement Strategic will distribute to its own shareholders most of the Trifecta shares it has acquired on the basis of one Trifecta common share for each four and one-half (4 ½) shares of Strategic held. The Trifecta common shares will be distributed to persons who are shareholders of Strategic at the close of business (Vancouver time) on May 31, 2017 (the "Share Distribution Record Date"), with the distribution to be made shortly thereafter.
Strategic shareholders will not be required to do anything to obtain their Trifecta shares, as they will be distributed pursuant to the shareholders' list maintained by Strategic's registrar and transfer agent, Computershare Investor Services Inc., as of the Share Distribution Record Date.
Trifecta After Completion Of The Arrangement
Upon completion of the Arrangement, Trifecta will hold interests in four mineral properties, all located within the White Gold District of the Dawson Range Gold Belt in southwestern Yukon. The Eureka, Triple Crown (formerly known as the OOO) and Treble (formerly known as the LLL) properties are all 100% owned by Trifecta. The fourth property (the Trident property) consists of three claim blocks optioned from arm's-length optionors and a number of claims wholly-owned by Trifecta which it acquired by staking. Of the claims blocks under option, Trifecta has the optional rights to acquire a 100% interest in the CH claims and up to a 75% interest in the Squid East and Squid West claims. Full particulars of Trifecta's mineral property interests will be disclosed in Trifecta's Listing Application upon receipt of final acceptance from the Exchange therefor, with the Listing Application then to be filed on SEDAR.
Following the completion of the Arrangement, Trifecta will be a reporting issuer in British Columbia and Alberta, the common shares of which will be listed on the Exchange. As of the listing of Trifecta's shares on the Exchange, Strategic shareholders will hold approximately 86% of the issued and outstanding Trifecta shares, with approximately 9.2% of those shares to be held by Strategic and approximately 4.8% of those shares to be held by the property optionors referred to above. Completion of the Arrangement is subject to a number of conditions, including, but not limited to, Exchange acceptance for both the Arrangement and the listing of Trifecta's common shares thereon. The Arrangement and the listing of Trifecta's common shares on the Exchange will not be effected until all such conditions have been satisfied.
Strategic Metals After Completion Of The Arrangement
Following the completion of the Arrangement, Strategic will remain a project generator and the largest claimholder in the Yukon. Strategic's portfolio of more than 100 projects is the result of 50 years of focused exploration and research by a team with a track record of major discoveries. Current projects available for option, joint venture or sale include drill-confirmed prospects and drill-ready targets with high-grade surface showings, geochemical anomalies and geophysical features similar to those at nearby deposits.
Strategic has a current cash position of over $16 million and significant shareholdings in a number of active mineral exploration companies including 45.2% of Rockhaven Resources Ltd., 8.3% of ATAC Resources Ltd., 31.1% of Precipitate Gold Corp. and 14.3% of Silver Range Resources Ltd.