| VMS Announces Shareholder Approval for Plan of Arrangement | |
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VANCOUVER, April 25, 2016 - VMS Ventures Inc. (TSX.V: VMS) (the 'Company' or 'VMS') is pleased to announce that its shareholders approved a previously announced plan of arrangement (the 'Plan of Arrangement') with Royal Nickel Corporation (TSX: RNX) ('RNC') at a special meeting of shareholders of VMS held today in Vancouver, BC. Of a total of 80,146,410 shares represented at the meeting (being 54.71% of the total issued and outstanding share capital), 93% were voted in favour of the Plan of Arrangement.
The Company also announces that, due to the large number of shareholders electing the RNC Share Option (as defined under the Plan of Arrangement), those shareholders will receive RNC shares at a rate of 0.392 of an RNC share per VMS share for 62.9% of their VMS shares and cash at a rate of $0.064 per VMS share for the remaining 37.1% of their VMS shares. There is no adjustment to the exchange consideration to be provided to those shareholders who elected the Cash Option or the Full Proration Option (as those terms are defined under the Plan of Arrangement).
Additionally, on April 15, 2016, the board of directors of VMS declared a dividend in kind, pursuant to which shareholders of VMS as of April 26, 2016 will receive, on a pro rata basis, 29,978,393 common shares of North American Nickel Inc. currently held by the Company.
ON BEHALF OF THE BOARD OF DIRECTORS
John Roozendaal, B.Sc., President
VMS Ventures Inc.
Contact Information:
VMS Ventures Inc.
Shaun Heinrichs, CFO
(604) 986-2020 or Toll Free: 1-866-816-0118
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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VMS Ventures Inc.
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EXPLORATEUR |
CODE : VMS.V |
ISIN : CA91828R1091 |
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VMS Ventures est une société d’exploration minière de zinc et d'or basée au Canada. VMS Ventures détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont REED LAKE, LYNN LAKE GABBROS, PUELLA BAY et COVER au Canada. VMS Ventures est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 19,0 millions CA$ (13,9 millions US$, 13,0 millions €). La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 1,76 CA$, et son plus bas niveau récent le 22 janvier 2016 à 0,05 CA$. VMS Ventures possède 146 480 000 actions en circulation. |