Larose Ventures Ltd.: Larose Ventures Announces Completion of Amalgamation with 1282454 B.C. Ltd.
Company" or "
Larose"), is pleased to announce that further to its news release dated January 22, 2021, the Company has completed its previously announced amalgamation with 1282454 B.C. Ltd. ("
1282454 BC") (the "
Amalgamation").
Pursuant to the terms of the Amalgamation, Larose and 1282454 BC have amalgamated and continued as one company ("
Amalco") pursuant to the provisions of Section 269 of the
Business Corporations Act (British Columbia) ("
BCBCA"). Upon completion of the Amalgamation, all Larose common shares outstanding immediately prior to the Amalgamation were exchanged for new Amalco Class A redeemable preferred shares on a one for one basis; all 2,000,000 common shares of 1282454 BC outstanding immediately prior to the Amalgamation were exchanged for new Amalco common shares on a one for one basis; and all Larose stock options currently outstanding were cancelled. Immediately following the Amalgamation, Amalco has redeemed the outstanding Class A redeemable preferred shares at a price of $0.0075 per share.