Kincora Copper (CVE:KCC) investor Ivanhoe Industries LLC has said that two of its affiliates, HPX Mongolia (Singapore) Pte. Ltd. and GCR Holdings Ltd. (Singapore), have completed the sale of certain assets in Mongolia to subsidiaries of Kincora by way of a merger under the share exchange agreement dated May 24.
In exchange, HPX receives 3,275,000 common shares of Kincora (KCC) and 1,637,500 common share purchase warrants of Kincora, while GCR, receives 2.62mln Kincora shares and 1.31mln warrants.
Each warrant is exercisable into a common share of KCC at a price of 54 cents per KCC share until Nov. 7, 2018, subject to certain acceleration provisions. All of the securities considered herein will be held in escrow until the reregistration of certain mineral exploration licences belonging to HPX and GCR is complete. Such reregistration is expected to occur by the end of 2016. All of the securities considered herein are registered to an affiliate of HPX and GCR.
Upon issuance of the KCC shares, Ivanhoe Industries, through HPX and GCR, will have beneficial ownership of approximately 12.12% of the then issued and outstanding KCC shares. Assuming the exercise in full of the warrants, Ivanhoe Industries, through HPX and GCR, will be deemed to beneficially own approximately 17.15% of KCC’s then issued and outstanding on a partially diluted basis.
Depending on economic or market conditions, or matters relating to KCC, HPX, GCR or Ivanhoe Industries, Ivanhoe Industries may choose to either acquire additional securities of KCC or dispose of securities of KCC, including dispositions to the shareholders of HPX and GCR, in accordance with applicable laws.
Story by ProactiveInvestors
Trump Feel Good Financial Narrative Crumbling - Greg Hunter, Craig Hemke Video
Trump Gives Mexico Extraordinary Refugee Surprise
X22Report Central Bankers Tricks Are Now Being Used Against Them to Bring the Economy Down - Episode 1263a
The End of YouTube: The Apocalypse With "We Are Change" _Tim Pool
Three Events Collide On April 26th—Two Drills and An Emergency Trump Meeting—What’s Up?
Ryan, McConnell to Trump: "You f***ed Up, You Trusted Us"
103,000 Entitled Muslims in Michigan Just Woke up to Nasty Surprise From Pissed Off Citizens
U.S. Air Force to Launch Unarmed ICBM Off California Coast Tonight in Preparation for Striking North Korea
FBI Reopens Hillary Clinton Investigation
This Could Save Your Job, House and Children - Emergency Call to Action
This Doctor Delivers the Best Explanation and Treatment for Alzheimer’s
Next One Out? Sean Hannity Under Attack as Fox News Continues its War Against Conservatives
Why Earth’s Winds are Changing with Tornadoes, Waterspouts & Plasma Lightning Intensifying
Elite Rituals You Need To Know, Child Drag Queen Hour & Giraffe Baby Live
BART Takeover Robbery: 40 to 60 Teens Swarm Train, Rob Weekend Riders
Iran's Nuclear Weapons Program: On Course, Underground, Uninspected
An Angry Canada Responds To Trump’s Lumber Tariff… And What It Means For The Economy
“Mother Earth will swallow you, lay your body down”
North Korea stages massive artillery drill. US nuclear sub docks in South
UFO - Corpuscular Ship..24.April.2017 (Video)
Chilling Ghost Apparition Caught on Tape
Curcumin outperforms anti-inflammatory drug for rheumatoid arthritis relief
The 3 Best Major OOC Sports Moments of last 5 years for Florida State, Boston College, and Notre Dame
It’s Trump That Has the Real “PizzaGate” Problem
Tuesday Night Acoustic Guitar Excellence: Trevor Gordon Hall, "Midnight and Raining"
French Mayor Fined for ‘Too Many Muslim Children’ Comment
What Angels Need
Group of Gorillas Approach Man in Ugandan Forest
Trump Comparisons to Ronald Reagan Aren’t Always a Good Thing