The transaction should go into effect following court approval.
Shareholders of URZ Energy Corp. (URZ:TSX.V; URZZF:OTC) and Azarga Uranium Corp. (AZZ:TSE) agreed, “by an overwhelming majority,” to all of the proposed resolutions described in the May 31, 2018, information circular, according to a news release.
It was agreed, according to the plan of arrangement, that URZ Energy shareholders will receive two shares of Azarga Uranium per each URZ Energy share held. Additionally, when outstanding options and warrants of URZ Energy are exercised in the future, they will be done so using this 2:1 ratio.
By way of voting, Azarga and URZ shareholders also agreed to, among others:
The Toronto Stock Exchange and TSX Venture Exchange conditionally approved the plan of arrangement for both entities. On July 4, 2018, the Supreme Court of British Columbia is expected to issue a final order of approval of the plan for URZ, and URZ’s shares will be delisted at trading’s close.
The Azarga-URZ merger should go into effect on or around July 5, 2018, assuming the court approves it and the conditions are met or waived.
Want to read more Energy Report articles like this? Sign up for our free e-newsletter, and you’ll learn when new articles have been published. To see a list of recent articles and interviews with industry analysts and commentators, visit our Streetwise Interviews page.
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: URZ Energy. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of URZ Energy, a company mentioned in this article.