Dividendco Acquires Transition Metal Shares
Transition Metals Corp. (XTM.V) and 2306241 Ontario Inc. of 410 Falconbridge Road, Unit 5, Sudbury, Ontario, P2A 4S4 (Dividendco), report today that Dividendco has acquired ownership of 4,111,875 common shares in Transition.
Dividendco acquired the Transition Shares pursuant to a plan of arrangement involving HTX Minerals Corp, Dividendco and the shareholders of HTX.
The purpose of the Arrangement was to enable HTX to distribute a certain number of the common shares it held in Transition to its current shareholders by way of dividend. The Arrangement involved a reorganization of HTX, pursuant to which Dividendco acquired the Transition Shares and shareholders of HTX became shareholders of Dividendco. The shareholders of HTX received one common share in the capital of HTX and one non-voting, participating share in the capital of Dividendco. Dividendco has no future intention to acquire ownership of, or control over, additional securities of Transition.
As a result of the Arrangement, Dividendco owns the Transition Shares, representing 18.5% of the issued and outstanding common shares of Transition, and HTX owns 6.7% of the issued and outstanding common shares of Transition.
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