World News: 12:45 GMT Friday 10th August 2018. [Goldstrike Resources Ltd. via Globe Newswire via SPi World News]
VANCOUVER, British Columbia, Aug. 10, 2018 (GLOBE NEWSWIRE) -- ("" or the "") (TSX-V:GSR) (OTC:APRAF) (Frankfurt:KCG1) is pleased to announce the completion of its previously announced plan of arrangement (the ""), which became effective at 12:01 a.m. (Vancouver time) on August 10, 2018 (the "").
As part of the Arrangement, among other things:
The Luckystrike Shares are expected to commence trading on the TSX Venture Exchange on August 14, 2018 under the symbol "LUKY".
Share certificates representing Old Goldstrike Shares will continue to represent New Goldstrike Shares and share certificates representing Luckystrike Shares will be delivered to Goldstrike shareholders as soon as reasonably practicable. Goldstrike shareholders are not required to submit letters of transmittal or surrender their share certificates.
Concurrent with the completion of the Arrangement, Luckystrike completed a non-brokered private placement of 8,333,334 units ("") at a subscription price of $0.30 per Unit. Each Unit is comprised of one Luckystrike Share and one share purchase warrant (a ""), with each Warrant entitling the holder thereof to acquire one Luckystrike Share at a price of $0.60 for a period of 36 months from the Effective Date, subject to acceleration. Goldstrike was the sole subscriber under the private placement. As a result of the private placement, Goldstrike now owns or controls an aggregate of 8,333,335 Luckystrike Shares and 8,333,334 Warrants, representing approximately 22.17% of the issued and outstanding Luckystrike Shares on an undiluted basis and approximately 36.30% on a partially diluted basis (assuming only the exercise of the Warrants held by Goldstrike).
Luckystrike also completed an additional non-brokered private placement of 2,054,002 subscription receipts ("") at a subscription price of $0.30 per Subscription Receipt. On the Effective Date, each Subscription Receipt automatically converted into one Luckystrike Share and one Warrant without any further action by the subscriber or additional consideration. Pursuant to the private placement of Units and the private placement of Subscription Receipts, Luckystrike raised aggregate gross proceeds of $3,116,200.
Additional details regarding the Arrangement and the additional transactions completed thereunder are set forth in the Company's management information circular dated June 25, 2018, a copy of which is available under the Company's profile on SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD
Terrence E. KingChairman, President andChief Executive Officer
For new information from the Company's programs, please visit Goldstrike's website at GoldstrikeResources.com or contact Jeff Stuart of King James Capital Corporation, handling Investor Relations for the Goldstrike, by telephone at (604) 210-2150 or by email at email@example.com.
Globe Newswire: 12:45 GMT Friday 10th August 2018
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