Goldstrike Announces Court Approval of Plan of Arrangement
July 30 2018 - 3:45PM
Goldstrike Resources Ltd.
("
Goldstrike" or the "
Company")
(GSR.V) is pleased to announce that the Supreme Court of British
Columbia has granted a final order approving the previously
announced plan of arrangement (the "
Arrangement").
Completion of the Arrangement is subject to the
satisfaction of customary closing conditions, including approval by
the TSX Venture Exchange.
As part of the Arrangement, among other
things:
- Luckystrike Resources Ltd. ("Luckystrike"), a
wholly-owned subsidiary of the Company, will indirectly acquire the
Company's six 100% owned White Gold District properties, being the
Lucky Strike, Hotspot, Bull's Eye, BRC, Gold Source and King's
Ransom properties;
- Goldstrike shareholders will receive one common share of
Luckystrike (a "Luckystrike Share") for every
seven common shares of Goldstrike held; and
- Holders of Goldstrike options and warrants will exchange such
securities for new options and warrants of Goldstrike and
Luckystrike, which are exercisable into shares of such companies on
their existing terms, with necessary adjustments for the
Arrangement based on the proportionate value of the White Gold
District properties.
Additional details regarding the Arrangement and
the additional transactions completed thereunder are set forth in
the Company's management information circular dated June 25, 2018,
a copy of which is available under the Company's profile on SEDAR
at www.sedar.com.
ON BEHALF OF THE BOARD
Terrence E. KingChairman, President andChief
Executive Officer
For new information from the Company's programs,
please visit Goldstrike's website at GoldstrikeResources.com
or contact Jeff Stuart of King James Capital Corporation, handling
Investor Relations for the Goldstrike, by telephone at (604)
210-2150 or by email at jstuart@kingjamescapital.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements
Statements contained in this news release that
are not historical facts are “forward-looking information” or
“forward-looking statements” (collectively, “Forward-Looking
Information”) within the meaning of applicable Canadian securities
legislation. In certain cases, Forward-Looking Information can be
identified by the use of words and phrases such as “anticipates”,
“expects”, “understanding”, “has agreed to” or variations of such
words and phrases or statements that certain actions, events or
results “would”, “occur” or “be achieved”. Although Goldstrike has
attempted to identify important factors and risks that could affect
Goldstrike and may cause actual actions, events or results to
differ materially from those described in Forward-Looking
Information, there may be other factors and risks that cause
actions, events or results not to be as anticipated, estimated or
intended, including, without limitation: inherent risks involved in
the exploration and development of mineral properties; the
uncertainties involved in interpreting drill results and other
exploration data; the potential for delays in exploration or
development activities; the geology, grade and continuity of
mineral deposits; the possibility that future exploration,
development or mining results will not be consistent with
Goldstrike’s expectations; accidents, equipment breakdowns, title
and permitting matters; labour disputes or other unanticipated
difficulties with or interruptions in operations; fluctuating metal
prices; unanticipated costs and expenses; uncertainties relating to
the availability and costs of financing needed in the future,
including to fund any exploration programs on its projects; that
Goldstrike may not be able to confirm historical exploration
results and other risks set forth in Goldstrike's public filings at
www.sedar.com. In making the forward-looking statements in this
news release, Goldstrike has applied several material assumptions,
including the assumption that general business and economic
conditions will not change in a materially adverse manner. There
can be no assurance that Forward-Looking Information will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on Forward-Looking
Information. Except as required by law, Goldstrike does not assume
any obligation to release publicly any revisions to Forward-Looking
Information contained in this news release to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
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