Queenston Mining Inc. (QMI.TO) announced that its shareholders have approved the previously announced plan of arrangement pursuant to which Osisko Mining will acquire all of the outstanding Queenston shares. Under the terms of the arrangement, each Queenston shareholder will receive 0.611 of an Osisko common share for each Queenston common share held.
Over 98% of Queenston common shares voted at today's special meeting of shareholders voted in favour of the special resolution approving the arrangement.
Queenston will apply for a final order of the Ontario Superior Court of Court of Justice for approval of the arrangement on December 21, 2012. Queenston expects that the arrangement will close on or about December 28, 2012.
QMI shares were down 10 cents at $4.52.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
