Canadian Zeolite Potential Distribution of Shares Pursuant to Plan of Arrangement
Vancouver, British Columbia (FSCwire) - Zeolite Corp. (the “Company”) (TSX.V: CNZ) (OTCQB: CNZCF) (FSE: ZEON), pursuant to the arrangement summarized in the news release dated February 17, 2017, the Company is expected to distribute the common shares it holds in Canadian Mining Corp. (the “CNG Shares”) to its shareholders. This is a special share exchange being conducted by way of plan of arrangement and was subject to various requirements as set out in the Company’s Management Information Circular dated March 14, 2017 and posted on the Company’s SEDAR profile on March 28, 2017. Canadian Zeolite Corp. received final court approval for the plan of arrangement on May 1, 2017 and Canadian Mining Corp. received conditional TSX-V approval for listing today, May 11, 2017.
The CNG Shares are to be distributed to common shareholders of the Company. The number of shares exchanged are to be one (1) Canadian Mining Corp. share for every five (5) shares held in the Company. The record date for this share exchange is to be May 23, 2017.
About Canadian Zeolite
Canadian Zeolite Corp. is an environmentally friendly Green Tech company involved in the exploration, development and production of the industrial mineral zeolite. It is a producer of natural zeolite from its zeolite deposits in British Columbia, Canada. The Company’s shares are listed on the TSX Venture Exchange under the symbol CNZ, on the OTCQB under the symbol “CNZCF” and on the Frankfurt Exchange under the symbol “ZEON”.
On behalf of the Board of Directors
“Ray Paquette”
President & CEO
604.684.3301
www.canadianzeolite.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. Canadian Zeolite does not assume the obligation to update any forward-looking statement.
Cautionary Note Regarding the United States
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or the solicitation of any offer to buy nor will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such province, state or jurisdiction.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/canadianzeolite05122017_0.pdf
Source: Canadian Zeolite Corp. (TSX Venture:CNZ, OTCQB:CNZCF, FWB:ZEON)
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