(MENAFN - Newsfile Corp) Fancamp and ScoZinc Announce Business Combination to Advance the Scotia Zinc & Lead Mine to Commercial Production
Montreal, Quebec and Halifax, Nova Scotia (Newsfile Corp. - February 18, 2021) - Fancamp Exploration Ltd. (TSXV: FNC) ( Fancamp ) and ScoZinc Mining Ltd. (TSXV: SZM) ( ScoZinc ) are pleased to announce that they have entered into a definitive arrangement agreement (the Arrangement Agreement ) whereby Fancamp will indirectly acquire all of the issued and outstanding securities of ScoZinc by way of a plan of arrangement (the Arrangement ) under the Business Corporations Act (British Columbia) (the Combination or the Transaction ).
Pursuant to the terms of the Arrangement Agreement, shareholders of ScoZinc (the ScoZinc Shareholders ) will receive 6.0 common shares of Fancamp (each whole share a Fancamp Share ) for every ScoZinc Share held (the Exchange Ratio ). Upon the closing of the Transaction, former shareholders of ScoZinc will hold 3