VANCOUVER, BC, June 1, 2022
/CNW/ - QuestEx Gold & Copper Ltd. (TSXV: QEX) (OTCQX:
QEXGF) ("QuestEx" or
the "Company") is pleased to announce that
QuestEx and Skeena Resources Limited ("Skeena") have
completed the previously announced acquisition by Skeena of QuestEx
by way of plan of arrangement under the Business Corporations
Act (British Columbia) (the
"Arrangement") effective at 12:01
a.m. (Vancouver time) on
June 1, 2022.
Pursuant to the Arrangement, the holders of common shares of
QuestEx (the "QuestEx Shares") (other than Skeena, any
subsidiary of Skeena and any subsidiary of Newmont Corporation),
received $0.65 in cash (less any
applicable withholding taxes) and 0.0367 of a common share of
Skeena (each whole common share, a "Skeena Share") for each
QuestEx Share held. A subsidiary of Newmont Corporation was issued
a promissory note by Skeena representing its entitlement to the
Skeena Shares and cash otherwise payable in respect of its QuestEx
Shares.
The QuestEx Shares are expected to be delisted from the TSX
Venture Exchange and the OTCQX at the close of trading on
June 2, 2022, and QuestEx intends to
submit an application to the applicable securities regulators to
cease to be a reporting issuer and to terminate its public
reporting obligations.
Further information about the Arrangement is set forth in the
materials prepared by QuestEx in respect of QuestEx's annual
general and special meeting of securityholders held on May 25, 2022, which were mailed to QuestEx
shareholders and filed under QuestEx's profile on the System for
Electronic Document Analysis and Retrieval (SEDAR) at
www.sedar.com.
ON BEHALF OF THE BOARD OF
DIRECTORS OF QUESTEX GOLD & COPPER LTD.
"Joseph Mullin"
Joseph
Mullin
Chief Executive Officer and Director
Neither the Exchange nor its regulation services provider (as
that term is defined in the policies of the Exchange) accepts
responsibility for the adequacy or accuracy of this news
release.
SOURCE QuestEx Gold & Copper Ltd.
