The demerger of Global Cobalt's (CVE:GCO/Global-Cobalt-Corp/">CVE:GCO) Global Energy Metals division continues to proceed smoothly, having received court approval for part of the process.
The Supreme Court of British Columbia has granted a final order approving the previously announced plan of arrangement concerning Global Cobalt Corp., major shareholder Imperial Mining Holding (IMHL), and Global Energy Metals.
The granting of the final order was a condition to the completion of the arrangement. The arrangement was approved by Global Cobalt security holders at a special meeting of Global Cobalt held on August 31.
Global Cobalt said it looks forward to satisfying the remaining closing conditions and successfully completing the arrangement.
When the arrangement finally closes, Global Cobalt shareholders, other than IMHL, will receive one share in the new company for every share they currently own in Global Cobalt.
Global Energy Metals, which will apply for a stock exchange listing, is to acquire the Werner Lake cobalt project and will assume certain outstanding debts of Global Cobalt.
Global Cobalt shares will continue to be listed on the TSX Venture Exchange. Reported by Proactive Investors 1 day ago.
The Supreme Court of British Columbia has granted a final order approving the previously announced plan of arrangement concerning Global Cobalt Corp., major shareholder Imperial Mining Holding (IMHL), and Global Energy Metals.
The granting of the final order was a condition to the completion of the arrangement. The arrangement was approved by Global Cobalt security holders at a special meeting of Global Cobalt held on August 31.
Global Cobalt said it looks forward to satisfying the remaining closing conditions and successfully completing the arrangement.
When the arrangement finally closes, Global Cobalt shareholders, other than IMHL, will receive one share in the new company for every share they currently own in Global Cobalt.
Global Energy Metals, which will apply for a stock exchange listing, is to acquire the Werner Lake cobalt project and will assume certain outstanding debts of Global Cobalt.
Global Cobalt shares will continue to be listed on the TSX Venture Exchange. Reported by Proactive Investors 1 day ago.