Marvel Discovery Corp. - Shareholders Approve Spinout Transaction
Marvel Discovery Corp. (TSXV:MARV)(Frankfurt:O4T1)(OTC PINK:IMTFF); (
Marvel or the
Company ). Further to the Company s news release of March 17, 2021, the Company provides the following update on its previously announced, proposed plan of arrangement (the
Spin-Out ).
At the Company s special shareholders meeting held today, shareholders approved the Spin-Out and the Company s Arrangement Agreement with its wholly owned subsidiary, Power One Resources Corp. (
Power One ). Pursuant to the Arrangement Agreement, the Company will transfer its interest in the Serpent River/Pecors and Wicheeda North properties (the
Properties ) to Power One in exchange for (i) Power One issuing to the shareholders of the Company, one common share in the capital of Power One (each, a