Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Last Hour:
Last 24 Hours:

Cancana Resources holders approve Meridian arrangement

Tuesday, November 15, 2016 11:41
% of readers think this story is Fact. Add your two cents.

Cancana Resources Corp (CVE:CNY) shares shot more than 14% higher on Tuesday after the company said shareholders approved a merger and reorganisation with Meridian Mining SE, at the company’s annual and special meeting held on Nov. 14.

A total of 62,138,974 common shares were voted at the meeting, representing 75.91% of the votes attached to all outstanding common shares.

Shareholders voted in favour of all items of business before the meeting, including the approval of the plan in which Meridian Mining SE and Cancana will complete a reorganization transaction whereby Meridian will acquire all of the issued and outstanding common shares of Cancana in exchange for shares of Meridian.

The deal was approved with more than 99% of all the votes cast by securityholders voting in favour. More than 99% of the shares voted by minority shareholders also voted in favour of the arrangement.

The arrangement will unify ownership of the Brazil manganese project joint venture into a single public company that will be listed on the TSX Venture Exchange. The company expects to complete the share exchange and for the Meridian Shares to commence trading on the TSXV under the symbol “MNO” before the end of November.

Cancana shares were up 14.3% at C$0.40 on Tuesday.

Story by ProactiveInvestors


We encourage you to Share our Reports, Analyses, Breaking News and Videos. Simply Click your Favorite Social Media Button and Share.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories



Top Global

Top Alternative



Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.