NQ Exploration Announces Final Court Approval of Arrangement and Confirms Share Distribution Record Date for the Imperial Mining Group Spin-Out
19.12.2017 | Marketwired
MONTREAL, Dec. 19, 2017 - NQ Exploration Inc. ("NQ" or the "Corporation") (TSX VENTURE:NQE) is pleased to announce that it has obtained a final order from the Superior Court of Quebec dated December 19, 2017 to implement the Corporation's previously announced plan of arrangement (the "Arrangement") to reorganize its business, including the spin-off of its wholly-owned subsidiary, Imperial Mining Group Ltd. ("IMG").NQ also confirm that December 19, 2017 will be the securities distribution record date ("Securities Distribution Record Date"), which determines the date upon which NQ shareholders of record will be entitled to receive 0,19623876 common share and 0,09811938 common share purchase warrant of IMG for every (1) common share they own of NQ.
The principal outstanding conditions are the closing of the concurrent private placement anticipated for Friday December 22nd, which would also be the expected payment date.
Only shareholders of record as at the Securities Distribution Record Date will be entitled to receive securities of IMG in the spin-out. Shareholders who sell their shares prior to the Share Distribution Record Date will not be entitled to receive securities of IMG.
ABOUT NQ EXPLORATION INC.
NQ Exploration Inc. is a mining exploration company with a solid portfolio of mining properties in the James Bay and Abitibi regions of Quebec as well as an interest in a coal project in Colombia. NQ Exploration Inc. is betting on Quebec's excellent mineral potential and favourable investment climate to produce new world-class gold and base metal deposits but is also pursuing its Colombian venture.
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.
Contact
David Grondin, President and Chief Executive Officer
(514) 583-3490
www.explorationnq.com
