February 11th, 2020, Vancouver, British Columbia – Enduro Metals Corporation (TSXV: EM / OTC: SIOCF / FSE: SOG-FF) (“Enduro Metals” or the “Company”) is pleased to announce that, further to its news releases dated January 13, 2020 and January 28, 2020, an aggregate of 10,000,000 common shares (the “Spinco Shares”) of Sassy Resources Corporation (“Spinco”) will be distributed to the shareholders of the Company (the “EM Shareholders”) in connection with the plan of arrangement (the “Plan of Arrangement”) among the Company, Spinco and the EM Shareholders.
The share conversion factor is 0.066708 (the “Conversion Factor”). In accordance with the Plan of Arrangement, the Conversion Factor was determined by dividing 10,000,000 (ten million) by 149,907,933, which is the number of common shares of the Company (the “EM Shares”) outstanding as at the close of business on February 10, 2020 (the “Record Date”).
The EM Shareholders who hold EM Shares as at the Record Date will receive for every one EM share held 0.066708 of a Spinco share (one Spinco Share with respect to every 14.9907 EM Shares).
The Payable Date, Record Date, Due Bill Trading Date, Ex-Distribution Date and Due Bill Redemption Date are as set forth below.
Distribution per Share: 0.066708 of a Spinco share for every one Company share
Payable Date: February 18, 2020
Record Date: February 10, 2020
Due Bill Trading Date: February 7, 2020
Ex-Distribution Date: February 19, 2020
Due Bill Redemption Date: February 20, 2020
No fractional Spinco Shares will be distributed to the EM Shareholders and, as a result, all fractional amounts arising under the Plan of Arrangement will be rounded down to the nearest whole number without any compensation therefor.
The number of EM Shares held by the EM Shareholders will not change.
Additional information regarding the terms of the Plan of Arrangement are set out in Enduro Metals’s management information circular dated August 23, 2019, and the news releases dated June 25, 2019, July 26, 2019, October 1, 2019, October 4, 2019, January 13, 2020 and January 28, 2020, all of which are available for viewing on Enduro Metals’s SEDAR profile at www.sedar.com.
About Enduro Metals
Enduro Metals is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The Company has an option to earn a 100% interest in the Newmont Lake Project, one of the largest land packages among juniors in the broader Eskay region in the heart of Northwest B.C.’s Golden Triangle.
On Behalf of the Board of Directors,
ENDURO METALS MINING CORP.
COO and Director
Email: firstname.lastname@example.org / www.endurometals.com
For further information please contact:
Tel: +1 (604) 261-4466
Toll Free: +1 (877) 261-4466
Momentum Public Relations
Tel: +1 (514) 815-7473
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