Explor Resources Inc. (fka EXSFF)

[douginil]

Pure Nickel Announces the Entering into of an Investment Agreement with Eric Sprott for a Three Million Dollar Investment in Support of a Proposed Merger with Explor Resources

Thanks to pmforme at Stockhouse

{{ An excerpt }}

The Company also announces that today it has signed an Amalgamation Agreement (the "Agreement") with Explor Resources Inc. ("Explor") to merge the companies on a 46/54 (Pure Nickel/Explor) basis (the "Transaction"). In connection with the Transaction, Pure Nickel will issue approximately 95,198,612 common shares of Pure Nickel in exchange for all of the issued and outstanding common shares of Explor. As a result, upon completion of the Transaction, the combined company will have approximately 177,891,951 shares outstanding. Upon completion of the transaction and prior to any conversion of the Debenture by Mr. Sprott, current Explor shareholders will have voting control of the merged Company. If Mr. Sprott converts the entire Debenture, he will have a 30% interest in the new company and Pure Nickel shareholders and Explor shareholders will have a 30% and a 40% interest respectively. The completion of the Transaction is subject to all necessary shareholder and regulatory approvals.



Read a lot more at:
https://finance.yahoo.com/news/pure-nickel-announces-entering-investment-184500767.html