Canadian Arrow Obtains Interim Order for Plan of Arrangement
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Toronto, Ontario (FSCwire) - Tartisan Resources Corp. (CSE: TTC) ("Tartisan") and Canadian Arrow Mines Limited (TSX-V: CRO) ("Canadian Arrow") are pleased to announce, further to their news release on October 20, 2017, that Canadian Arrow has obtained an interim order of the Ontario Superior Court of Justice in connection with the proposed plan of arrangement (the "Arrangement"). The interim order provides for, among other things, the holding of an annual and special meeting (the "Meeting") of the holders of common shares of Canadian Arrow (the "Shareholders") to approve, among other things, the Arrangement under the Business Corporations Act (Ontario). The Meeting is scheduled to be held at the offices of Fogler, Rubinoff LLP, 77 King Street West, Suite 3000, Toronto, Ontario on Friday, January 19, 2018 at 10:00 a.m. (Toronto time). The record date for determining Shareholders entitled to receive notice of and vote at the Meeting was fixed at the close of business on December 15, 2017.
As previously disclosed, Canadian Arrow entered into an arrangement agreement with Tartisan pursuant to which Tartisan will acquire all of the issued and outstanding common shares of Canadian Arrow and, upon closing, Canadian Arrow will become a wholly owned subsidiary of Tartisan. The Board of Directors of Canadian Arrow has previously approved the Arrangement and has unanimously recommended that Shareholders approve the Arrangement.
The completion of the Arrangement is subject to certain conditions, including the receipt of the requisite approval from the Shareholders, the final approval (the "Final Order") of the Ontario Superior Court of Justice at an application which is scheduled for January 25, 2018, final acceptance by the respective stock exchanges on which Canadian Arrow and Tartisan trade, and other closing conditions customary in transactions of this nature. If all necessary approvals are obtained and the conditions to the completion of the Arrangement are satisfied or waived, it is currently anticipated that the Arrangement will be completed on or about January 31, 2018.
The terms of the Arrangement will be summarized in an information circular of Canadian Arrow (the "Circular") that will be mailed to Shareholders later this month. A copy of the Arrangement Agreement, the Circular and related documents have or will be filed with the Canadian regulatory authorities and will be available for review under Canadian Arrow’s SEDAR profile at www.sedar.com.
About Tartisan Resources Corp.
Tartisan Resources Corp. is a Canadian mineral exploration and development company focused on project generation of precious and base metal properties. Tartisan owns a 100% stake in the Don Pancho Zinc-Lead-Silver Project just 9 km from Trevali’s Santander Mine and owns a 100% stake in the Ichuna Copper-Silver Project contiguous to Buenaventura’s San Gabriel Property. Tartisan Resources portfolio also includes an equity stake (6 million shares and 3 million warrants @ 40 cents) in Eloro Resources Ltd. (TSX.V:ELO). Tartisan Resources Corp. common shares are listed on the Canadian Securities Exchange and is a Member of the CSE Composite Index (CSE:TTC). There are currently 78,292,443 shares outstanding (93,105,827 fully diluted).
About Canadian Arrow Mines Limited
Canadian Arrow is an experienced exploration and mine operating team that is focussed on acquiring and developing economically viable nickel sulphide deposits near existing infrastructure. Canadian Arrow operates in north-western Ontario, near the towns of Kenora and Dryden. The company's main asset is the Kenbridge Nickel Project, a nickel-copper sulphide deposit containing over 98 million lbs of nickel in Measured & Indicated Resources. The deposit is equipped with a 620m shaft and has never been mined.
For further information, please contact Mr. Dean MacEachern, CEO and a Director of the company, at (705) 673-8259 (email@example.com). Additional information about Canadian Arrow can be found at the company’s website at www.canadianarrowmines.com or on SEDAR at www.sedar.com.
Forward Looking Information
Certain information contained in this news release constitutes forward looking information. All information other than information of historical fact is forward looking information. The use of any of the words "intend", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "should", "would", "believe", "predict" and "potential" and similar expressions are intended to identify forward looking information. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward looking information. No assurance can be given that this information will prove to be correct and such forward looking information included in this news release should not be unduly relied upon.
The forward looking information provided in this news release is based upon a number of material factors and assumptions including, without limitation: (a) that the Arrangement will be completed in the timelines and on the terms currently anticipated; (b) that all necessary CSE, TSXV, court and regulatory approvals will be obtained on the timelines and in the manner currently anticipated; (c) that all necessary Shareholder approvals will be obtained; and (d) general assumptions respecting the business and operations of both Canadian Arrow and Tartisan, including that each business will continue to operate in a manner consistent with past practice and pursuant to certain industry and market conditions.
Readers are cautioned that the foregoing list of risks, uncertainties and assumptions are not exhaustive.
The forward looking information included in this news release is expressly qualified by this cautionary statement and is made as of the date of this news release. Neither Canadian Arrow nor Tartisan undertake any obligation to publicly update or revise any forward looking information except as required by applicable securities laws.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
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Source: Tartisan Resources Corp. (CSE:TTC)
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