(Energy Analytics Institute, 5.Dec.2024) — The shareholders of Power Nickel Inc. approved a previously announced plan of arrangement whereby the company’s interest in the Golden Ivan property, along with certain Chilean exploration assets and liabilities, will be spun out.
In the deal, Power Nickel shareholders will receive common shares in Chilean Metals Inc., a wholly owned subsidiary of the Power Nickel.
At Power Nickel’s annual general and special meeting on 22 Nov. 2024, the special resolution approving the arrangement was approved by 96.81% of the votes cast by shareholders, the mining company announced 5 Dec. 2024 in an official statement. Also, all the other matters raised at the meeting, including the stock option plan for the spin-out, were also approved in accordance with management’s recommendations.
Importantly, on 27 Nov. 2024, Power Nickel obtained a final order from the Supreme Court of British Columbia in respect to the arrangement, which was a condition to enable closing, Power Nickel said in the statement.
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