VANCOUVER, Jan. 28, 2020 /CNW/ - Crystal Lake Mining
Corporation (TSXV: CLM / OTC: SIOCF / FSE: SOG-FF)
("Crystal Lake" or the
"Company") further to its news release dated January 13, 2020 is pleased to
announce the particulars of the "Due Bills" trading with respect to
the plan of arrangement (the "Arrangement") among the
Company, Sassy Resources Corporation ("Spinco") and the
shareholders of the Company.
The Payable Date, Record Date, Due Bill Trading Date,
Ex-Distribution Date and Due Bill Redemption Date will be as set
forth below.
Distribution per
Share:
|
The number of Spinco
shares that is equal to 10,000,000 (ten million) divided
by
the total number of
issued and outstanding Company shares as of the close of
business on Record
Date
|
|
|
Payable
Date:
|
February 18,
2020
|
|
|
Record
Date:
|
February 10,
2020
|
|
|
Due Bill Trading
Date:
|
February 7,
2020
|
|
|
Ex-Distribution
Date:
|
February 19,
2020
|
|
|
Due Bill Redemption
Date:
|
February 20,
2020
|
The final number of Spinco shares that will be distributed per
one Company share pursuant to the Arrangement will be published in
a subsequent news release following the close of business on
February 10, 2020 (Record Date) and
prior to February 19, 2020
(Ex-Distribution Date).
No fractional shares of Spinco will be distributed to
shareholders and, as a result, all fractional amounts arising under
the Arrangement will be rounded down to the nearest whole number
without any compensation therefor.
DUE BILL TRADING:
The Company has declared a distribution, per one common share
held in the Company, of the number of Spinco shares that is equal
to 10,000,000 (ten million) divided by the total number of issued
and outstanding Company shares as of the close of business on
February 10, 2020, which is payable
on February 18, 2020 to shareholders
of record as of the close of business on February 10, 2020. The common shares of the
Company will commence trading on a "due bill" basis effective from
the opening on February 7, 2020 until
February 18, 2020 inclusively.
Sellers of the shares from February 7,
2020 to and including February 18,
2020 will not be entitled to the distribution. The shares
will commence trading on an ex-distribution basis effective at the
opening on February 19, 2020.
Additional information regarding the terms of the Arrangement
are set out in Crystal Lake's
management information circular dated August
23, 2019, and the news releases dated June 25, 2019, July 26,
2019, October 1, 2019,
October 4, 2019 and January 13, 2020, all of which are available for
viewing on Crystal Lake's SEDAR
profile at www.sedar.com.
About Crystal Lake
Crystal Lake Mining is a Canadian-based junior exploration
company focused on building shareholder value through high-grade
discovery opportunities in British
Columbia and Ontario. The
Company has an option to earn a 100% interest in the Newmont Lake
Project, one of the largest land packages among juniors in the
broader Eskay region in the heart of Northwest B.C.'s Golden
Triangle.
On Behalf of the Board of Directors,
CRYSTAL LAKE MINING
CORP.
"Maurizio Napoli"
President, Director
Email: info@crystallakemining.com
www.crystallakemining.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release
SOURCE Crystal Lake Mining Corporation