CopAur Mineral Inc. (OTCMKTS:COPAF) Stock Falls As New Placer Dome Gold Shareholders Approve Acquisition
CopAur Mineral Inc. (OTCMKTS:COPAF) dropped 12% after the company, and New Placer Dome Gold Corp announced that a significant number of New Place Dome shareholders have an authorized a special resolution.
Market Stats
On Friday, COPAF stock fell 12.41% to $0.7270 with more than 31.87K shares, compared to its average volume of 45.97K shares. The stock moved within a range of $0.7130 – 0.7893 after opening trading at $0.7711.
New Placer Dome Gold Shareholders Approve Acquisition by CopAur Minerals Inc.
Approving the previously disclosed plan of Arrangement under which CopAur will purchase all New Placer Dome’s outstanding common shares for $0.1182 per CopAur common shares for every common share held.
Common shareholders approved the Arrangement at a special shareholders meeting on May 6, 2022. Around 99.53% of the shareholders approved the Arrangement Resolution.
Additionally, as per the Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions, the Arrangement Resolution received 99.51% of the total votes cast minus the votes cast by some “interested parties” and “related parties.” During the meeting, 61.354 common shares, representing around 34.93%, were voted attached to outstanding common shares. New Placer Dome requires final approval from the British Columbia Supreme Court for the Arrangement. Therefore COPAF is worth watching.
