Canuc Resources Corp. and Macdonald Mines Exploration Inc. Announce Revised Closing Date Regarding Proposed Acquisition Transaction
Canuc Resources Corporation (CNUCF) and Macdonald Mines Exploration Inc. (BMK) have announced a revised timeline for their previously announced acquisition transaction. The expected trading halt of Macdonald Mines shares on May 5, 2025, did not occur as planned. Following TSXV's request, Macdonald Mines will be delisted from TSXV at market close on May 6th. The definitive record date for Macdonald Mines shareholders to receive Canuc shares is set for May 7th, with the transaction expected to close post-market on or around the same date.
Canuc Resources Corporation (CNUCF) e Macdonald Mines Exploration Inc. (BMK) hanno annunciato una nuova tempistica per la loro precedente operazione di acquisizione. La sospensione delle negoziazioni delle azioni Macdonald Mines prevista per il 5 maggio 2025 non si è verificata come previsto. Su richiesta della TSXV, Macdonald Mines sarà delistata dalla TSXV alla chiusura del mercato del 6 maggio. La data definitiva per il registro degli azionisti di Macdonald Mines, ai fini dell’assegnazione delle azioni Canuc, è fissata per il 7 maggio, con la chiusura dell’operazione prevista dopo la chiusura del mercato nello stesso giorno o intorno a quella data.
Canuc Resources Corporation (CNUCF) y Macdonald Mines Exploration Inc. (BMK) han anunciado un cronograma revisado para la transacción de adquisición previamente anunciada. La suspensión esperada de la negociación de las acciones de Macdonald Mines el 5 de mayo de 2025 no ocurrió como se planeó. A solicitud de TSXV, Macdonald Mines será eliminada de la lista de TSXV al cierre del mercado el 6 de mayo. La fecha definitiva para el registro de accionistas de Macdonald Mines para recibir acciones de Canuc está establecida para el 7 de mayo, y se espera que la transacción se cierre después del mercado en esa fecha o alrededor de ella.
Canuc Resources Corporation (CNUCF)와 Macdonald Mines Exploration Inc. (BMK)가 이전에 발표한 인수 거래에 대한 수정된 일정을 발표했습니다. 2025년 5월 5일에 예정되었던 Macdonald Mines 주식 거래 중단은 계획대로 이루어지지 않았습니다. TSXV의 요청에 따라 Macdonald Mines는 5월 6일 시장 마감 시 TSXV에서 상장 폐지될 예정입니다. Canuc 주식을 받기 위한 Macdonald Mines 주주들의 최종 기록일은 5월 7일로 정해졌으며, 거래는 같은 날 또는 그 즈음 시장 마감 후에 완료될 예정입니다.
Canuc Resources Corporation (CNUCF) et Macdonald Mines Exploration Inc. (BMK) ont annoncé un calendrier révisé pour leur transaction d'acquisition précédemment annoncée. La suspension de la négociation des actions de Macdonald Mines prévue le 5 mai 2025 n'a pas eu lieu comme prévu. À la demande de la TSXV, Macdonald Mines sera radiée de la TSXV à la clôture du marché le 6 mai. La date définitive d'enregistrement pour les actionnaires de Macdonald Mines afin de recevoir des actions Canuc est fixée au 7 mai, la clôture de la transaction étant prévue après la fermeture du marché à cette date ou aux alentours.
Canuc Resources Corporation (CNUCF) und Macdonald Mines Exploration Inc. (BMK) haben einen überarbeiteten Zeitplan für ihre zuvor angekündigte Übernahme bekannt gegeben. Die erwartete Handelsaussetzung der Macdonald Mines-Aktien am 5. Mai 2025 erfolgte nicht wie geplant. Auf Bitte der TSXV wird Macdonald Mines am 6. Mai zum Marktschluss von der TSXV delistet. Das endgültige Stichtdatum für Macdonald Mines-Aktionäre, um Canuc-Aktien zu erhalten, ist auf den 7. Mai festgelegt, wobei der Abschluss der Transaktion nach Marktschluss an diesem oder um diesen Tag herum erwartet wird.
- Acquisition proceeding forward despite timeline adjustment
- Clear new timeline established for transaction completion
- Macdonald Mines shareholders have a definitive record date for share conversion
- Delay in original transaction timeline
- Unexpected delisting requirement from TSXV for Macdonald Mines
- Initial trading halt did not occur as planned, indicating potential procedural issues
Toronto, Ontario--(Newsfile Corp. - May 6, 2025) - Canuc Resources Corporation (TSXV: CDA) (OTCQB: CNUCF) ("Canuc") and Macdonald Mines Exploration Inc. (TSXV: BMK) (OTC Pink: MCDMF) ("Macdonald Mines") announce a delay in the previously announced transaction whereby Canuc will acquire all of the shares of Macdonald Mines (the "Transaction").
The anticipated trading halt in respect of the Macdonald Mines shares on May 5, 2025 has not occurred. As a result, the closing date of the Transaction has been adjusted. In order to accommodate the closing and procedures thereof, the TSXV has requested that Macdonald Mines delist from the TSXV prior to the closing of the Transaction. As a result, Macdonald Mines will be delisted from the TSXV as of market close on May 6th and the definitive record date to determine the shareholders of Macdonald Mines that will receive shares in Canuc will be May 7th. Transaction is expected to close post-market closing on or around May 7th.
About MacDonald Mines Exploration Ltd.
Founded in 1935, MacDonald Mines Exploration Ltd. is a mineral exploration company focused on the evaluation, acquisition, and development of precious and critical metals properties in Ontario. The company's flagship project, the
The SPJ Project encompasses several centers of critical and precious metal mineralization interpreted to be related to a mineral system that can form IOCG and affiliated critical and precious mineral deposits. Included within the Project is the historical Scadding Gold Mine and associated gold mineralized system and gold bearing tailings. Minerals of interest on SPJ include copper (Cu), gold (Au), cobalt (Co), nickel (Ni) and rare earth elements (REE). MacDonald Mines Exploration Ltd. is committed to responsible and sustainable operations, prioritizing environmental stewardship, safety, and community engagement.
About Canuc Resources Corporation
Founded in 1952, Canuc Resources Corporation is a junior resource company focusing on the San Javier Silver-Gold Project in Sonora State, Mexico. The San Javier Silver-Gold Project evidences silver, gold and copper mineralization interpreted to be related to a mineral system that can form silver dominant IOCG and affiliated deposits. The Company also generates cash flow from natural gas production at its MidTex Energy Project located in Central West Texas, USA where Canuc has an interest in eight (8) producing natural gas wells and has rights for further in field developments.
For further information please contact:
Canuc Resources Corporation
Chris Berlet: (416) 525 - 6869
cberlet@canucresources.ca
Forward-Looking Information
This news release contains forward-looking information. All information, other than information of historical fact, constitute "forward-looking statements" and includes any information that addresses activities, events or developments that each of Canuc and/or MacDonald Mines (collectively, the "Corporations") believes, expects or anticipates will or may occur in the future including the Corporations respective strategy, plans or future financial or operating performance, and including statements regarding the completion of or the benefits of the Transaction and the Arrangement.
When used in this news release, the words "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and other indications of future tense, are intended to identify forward-looking information. The forward-looking information is based on current expectations and applies only as of the date on which they were made. The factors that could cause actual results to differ materially from those indicated in such forward-looking information include. Factors such as uncertainties regarding government regulations could also affect the results. Other risks may be set out in the Corporations respective annual financial statements, MD&A and other publicly filed documents.
The Corporations caution that there can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. There is Accordingly, investors should not place undue reliance on forward-looking information. Except as required by law, the Corporations do not assume any obligation to release publicly any revisions to forward-looking information contained in this press release to reflect events or circumstances after the date hereof.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250977
FAQ
When will Canuc Resources (CNUCF) complete its acquisition of Macdonald Mines?
Why is Macdonald Mines being delisted from TSXV before the Canuc Resources acquisition?
What is the record date for Macdonald Mines shareholders in the Canuc Resources acquisition?
What caused the delay in the Canuc Resources (CNUCF) acquisition of Macdonald Mines?
