Buckingham Copper Corp. Shareholders Overwhelmingly Approve of Arrangement with Colorado Resources Ltd.
TSX VENTURE: CXO
VANCOUVER, B.C., August 8, 2019 – Buckingham Copper Corp. ("Buckingham" or the "Company") is pleased to announce the voting results for its special meeting of the shareholders of Buckingham (the "Buckingham Shareholders") held on August 7, 2019 in Vancouver, British Columbia (the "Special Meeting").
The sole matter considered at the Special Meeting was the special resolution (the "Arrangement Resolution") approving the statutory plan of arrangement (the "Arrangement") with Colorado Resources Ltd. ("Colorado") whereby Colorado will acquire all of the issued and outstanding common shares of Buckingham ("Buckingham Shares") and, in exchange, the Buckingham Shareholders will receive 0.50 of a common share of Colorado ("Colorado Shares") for each Buckingham Share held.
Buckingham Shareholders, representing a total of 81.47% of the outstanding Buckingham Shares eligible to be voted at the Special Meeting, voted on the Arrangement Resolution. 99.992% of the total votes cast by Buckingham Shareholders at the Special Meeting voted FOR the Arrangement Resolution.
Closing of the Arrangement remains subject to court approval as well as other customary closing conditions. Assuming the timely completion of these conditions, Buckingham expects the Arrangement to close on or about August 14, 2019.
Buckingham Copper Corp. is an unlisted public reporting Canadian Exploration Company focused on exploring and developing its Sofia and Moat Properties. The Properties are located in the Toodogone and Golden Triangle districts respectively, in British Columbia. For additional information please visit www.sedar.com.
Colorado Resources Ltd. is currently engaged in the business of mineral exploration for the purpose of acquiring and advancing mineral properties located in the "Golden Triangle" British Columbia. The Company's main exploration projects within British Columbia include KSP, North ROK, Kingpin and Kinaskan-Castle.
ON BEHALF OF THE BOARD OF BUCKINGHAM COPPER CORP.
CEO and Director
Certain information set forth in this news release contains "forward-looking statement", and "forwardlooking information" under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Some of the forward-looking statements may be identified by words such as "will", "expects", "anticipates", "believes", "projects", "plans", and similar expressions.
Forward-looking statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which, may cause the Company’s actual performance and financial results in future periods to differ materially from any projects of future performance or results expressed or implied by such forward-looking statement. Such forward-looking statements are based on certain assumptions made by the Company, including but not limited to assumptions that: the Arrangement will complete under the terms, structure, and timeline currently contemplated; the requisite court approval in connection with the Arrangement will be obtained in a timely manner and on satisfactory terms; the parties will be able to satisfy the other conditions to the closing of the Arrangement and on the timeline currently contemplated; no significant events will occur outside of the Company’s normal course of business; and the continuation of the business and operations of the Company, and the integration thereof with Colorado, following completion of the Arrangement will occur as currently contemplated.
Material risks and uncertainties applicable to the forward-looking statements set out herein include, but are not limited to: the Arrangement is not completed in a timely fashion or at all; the requisite court approval is not obtained in a timely fashion (or at all) or on satisfactory terms; and other unforeseen events, developments, or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant.
There can be no assurance that forward-looking statement will prove to be accurate, and actual results and future events could differ materially from those anticipate in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
For further information contact:
Joseph Mullin, CEO and Director
Tel: +1 (604) 558-7685