Spin Off | CANALASKA URANIUM LTD | 10th November 2023
On September 5, 2023, CANALASKA URANIUM LTD announced the spin-off of its Nickel Properties (CORE NICKEL CORP). Under the Arrangement, CANALASKA URANIUM LTD shareholders will receive CORE NICKEL CORP common shares by way of a share exchange, pursuant to which each existing common share of the Company will be exchanged for one new CanAlaska common share and 0.19987 of a CORE NICKEL CORP share. On October 25, 2023, CANALASKA URANIUM LTD shareholders approved the arrangement. On October 31, 2023, the Supreme Court of British Columbia granted its approval. On November 10, 2023, CANALASKA URANIUM LTD announced the plan of arrangement spin-off transaction has closed effective November 10, 2023. CORE NICKEL CORP has received conditional approval to list on the Canadian Securities Exchange under the ticker CNCO. Final listing approval will be subject to CORE NICKEL CORP satisfying all the listing conditions of the CSE. CORE NICKEL CORP will announce by way of a further press release the date on which trading will commence, which is expected to be in the next couple of weeks. The existing common shares of CANALASKA URANIUM LTD are expected to be delisted from the TSXV as of the close of business on November 13, 2023. The New CANALASKA URANIUM LTD Shares are expected to commence trading on the TSXV at the market opening on November 14, 2023, under the existing ticker.
- The spin-off company CORE NICKEL CORP will be added to the Index according to the transaction terms.
- Effective Date (open): 10/11/2023
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