VANCOUVER, British Columbia, Nov. 17, 2017 (GLOBE NEWSWIRE) -- WCB Resources (WCB.V) is pleased to announce that Kingston Resources Ltd. (ASX:KSN)(“KSN”) has completed its acquisition of WCB by acquiring all of the outstanding shares and warrants of WCB pursuant to a plan of arrangement under the Business Corporations Act (British Columbia) (the “Plan of Arrangement”).
On November 7, 2017, the WCB shareholders voted unanimously in favour of the Plan of Arrangement and on November 9, 2017, the Supreme Court of British Columbia issued a final order approving the Plan of Arrangement.
It is expected that the common shares of WCB will be delisted from the TSX Venture Exchange on or around the close of business November 20, 2017. Under the terms of the Plan of Arrangement, each WCB shareholder received 4.5 KSN shares for each WCB share held. WCB’s warrantholders will receive replacement KSN options.
Registered WCB shareholders are not required to take any action in order to receive their KSN shares. KSN will commence delivery of certificates or other evidence of the KSN shares to which a registered WCB shareholder as of November 17, 2017 is entitled immediately. Non-registered WCB shareholders should contact their broker or other intermediary for instructions or assistance.
KSN has issued an aggregate of 302,601,971 ordinary shares in connection with the Plan of Arrangement.
For Further information please contact:
Cameron Switzer
President and CEO
WCB Resources Limited
cswitzer@wcbresources.com
Tel: +61 7 3212 6212
+61 4 2777 2111
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.