VANCOUVER,March 30, 2016 - VMS Ventures Inc. (TSX.V: VMS) (the 'Company' or 'VMS') announces, further to its news release of February 1, 2016, that it has filed its management information circular (the 'Circular') and related proxy materials under its profile on SEDAR at www.sedar.com in connection with the special meeting of its shareholders ('Shareholders') scheduled to be held on April 25, 2016 (the 'Meeting').
At the Meeting, Shareholders will be asked to approve VMS's previously announced transaction with Royal Nickel Corporation ('RNC') (TSX: RNX), whereby RNC proposes to acquire all of the issued and outstanding common shares of VMS by way of a plan of arrangement under the Business Corporations Act (British Columbia) (the 'Arrangement'). The Arrangement is being proposed under, and is subject to the terms and conditions of, an arrangement agreement dated January 30, 2016 between VMS and RNC. Assuming the Arrangement becomes effective, holders of common shares of VMS (the 'VMS Shares') will receive, at the election of such holder, 0.392032 of a common share of RNC (each whole common share, a 'RNC Share'), $0.064170 in cash, or $0.023942 in cash and 0.245765 of an RNC Share, for each VMS Share held, in each case subject to adjustment as detailed in the Circular.
Additionally, if the Arrangement becomes effective, holders of VMS Shares will receive a dividend in kind, on a pro rata basis, of 29,978,393 common shares of North American Nickel Inc. currently held by the Company.
On March 22, 2016, VMS was granted an interim order from the Supreme Court of British Columbia authorizing various matters, including the holding of the Meeting and the mailing of the Circular. Shareholders of record as of the close of business on March 9, 2016 will receive notice of and be entitled to vote at the Meeting. The Circular, which provides information about each of VMS and RNC, and the Arrangement, is now being mailed to Shareholders. A copy of the Circular is also available under the Company's SEDAR profile at www.sedar.com.
Your vote is important regardless of the number of VMS Shares you own. The Board of Directors of VMS recommends that the shareholders vote IN FAVOUR of the Arrangement.
ON BEHALF OF THE BOARD OF DIRECTORS
John Roozendaal, B.Sc., President
VMS Ventures Inc.
Contact Information:
VMS Ventures Inc.
Shaun Heinrichs, CFO
(604) 986-2020 or Toll Free: 1-866-816-0118
Forward Looking Statements
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding future plans and objectives of the Company are forward-looking statements that involve various risks. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Factors that may cause a difference include, but are not limited to, fluctuations in capital markets, changes in the price of mineral commodities and the uncertainty of access to additional capital. VMS Ventures Inc. undertakes no obligation to update or revise such forward-looking statements if circumstances or management's or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements
Neither the 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.