Pasofino Gold Limited (TSXV: VEIN) (OTCQB: EFRGF) announced the termination of its shareholder rights plan agreement with Computershare Investor Services Inc. The termination occurred on May 1, 2025, as the company failed to obtain the required shareholder approval within the six-month deadline from the plan's effective date. According to TSX Venture Exchange Policy 3.1, the Rights Plan needed majority approval from voting shareholders. As a result, all outstanding rights under the plan have ceased to represent any entitlements, including the right to acquire company common shares. All certificates, statements, or instruments previously evidencing these rights are now void and unenforceable.
Pasofino Gold Limited (TSXV: VEIN) (OTCQB: EFRGF) ha annunciato la cessazione del suo accordo sul piano dei diritti degli azionisti con Computershare Investor Services Inc. La cessazione è avvenuta il 1° maggio 2025, poiché la società non ha ottenuto l'approvazione richiesta dagli azionisti entro il termine di sei mesi dalla data di entrata in vigore del piano. Secondo la Politica 3.1 della TSX Venture Exchange, il Piano dei Diritti necessitava dell'approvazione della maggioranza degli azionisti con diritto di voto. Di conseguenza, tutti i diritti in essere ai sensi del piano hanno cessato di rappresentare qualsiasi titolo, incluso il diritto di acquisire azioni ordinarie della società. Tutti i certificati, estratti conto o strumenti che attestavano tali diritti sono ora nulli e non più applicabili.
Pasofino Gold Limited (TSXV: VEIN) (OTCQB: EFRGF) anunció la terminación de su acuerdo del plan de derechos para accionistas con Computershare Investor Services Inc. La terminación tuvo lugar el 1 de mayo de 2025, ya que la compañía no obtuvo la aprobación requerida de los accionistas dentro del plazo de seis meses desde la fecha de vigencia del plan. Según la Política 3.1 de TSX Venture Exchange, el Plan de Derechos necesitaba la aprobación mayoritaria de los accionistas con derecho a voto. Como resultado, todos los derechos pendientes bajo el plan han dejado de representar cualquier derecho, incluido el derecho a adquirir acciones comunes de la compañía. Todos los certificados, estados o instrumentos que evidenciaban estos derechos ahora son nulos e inaplicables.
Pasofino Gold Limited (TSXV: VEIN) (OTCQB: EFRGF)는 Computershare Investor Services Inc.와 체결한 주주 권리 계획 계약을 종료했다고 발표했습니다. 이 종료는 2025년 5월 1일에 이루어졌으며, 회사가 계획 발효일로부터 6개월 이내에 필요한 주주 승인을 받지 못했기 때문입니다. TSX 벤처 거래소 정책 3.1에 따르면 권리 계획은 투표권 있는 주주의 과반수 승인이 필요했습니다. 그 결과, 계획에 따른 모든 미결 권리는 회사 보통주를 취득할 권리를 포함하여 어떠한 권리도 더 이상 대표하지 않습니다. 이전에 이러한 권리를 증명하던 모든 증서, 명세서 또는 문서는 이제 무효이며 집행 불가능합니다.
Pasofino Gold Limited (TSXV : VEIN) (OTCQB : EFRGF) a annoncé la résiliation de son accord relatif au plan de droits des actionnaires avec Computershare Investor Services Inc. La résiliation a eu lieu le 1er mai 2025, la société n'ayant pas obtenu l'approbation requise des actionnaires dans le délai de six mois à compter de la date d'entrée en vigueur du plan. Conformément à la politique 3.1 de la TSX Venture Exchange, le plan de droits nécessitait l'approbation majoritaire des actionnaires ayant droit de vote. Par conséquent, tous les droits en cours dans le cadre du plan ne confèrent plus aucun droit, y compris le droit d'acquérir des actions ordinaires de la société. Tous les certificats, relevés ou instruments attestant de ces droits sont désormais nuls et non exécutoires.
Pasofino Gold Limited (TSXV: VEIN) (OTCQB: EFRGF) hat die Beendigung seiner Aktionärsrechtsvereinbarung mit Computershare Investor Services Inc. bekanntgegeben. Die Beendigung erfolgte am 1. Mai 2025, da das Unternehmen die erforderliche Zustimmung der Aktionäre nicht innerhalb der sechsmonatigen Frist ab dem Wirksamkeitsdatum des Plans erhalten hat. Gemäß der TSX Venture Exchange Richtlinie 3.1 benötigte der Rechteplan die Mehrheit der stimmberechtigten Aktionäre. Folglich haben alle ausstehenden Rechte aus dem Plan keine Gültigkeit mehr und beinhalten nicht mehr das Recht, Stammaktien des Unternehmens zu erwerben. Alle zuvor ausgestellten Zertifikate, Abrechnungen oder Urkunden, die diese Rechte belegten, sind nun ungültig und nicht durchsetzbar.
Positive
None.
Negative
Failed to obtain required shareholder approval for the Rights Plan within the mandatory 6-month period
Loss of potential shareholder protections that were intended under the Rights Plan
Toronto, Ontario--(Newsfile Corp. - May 1, 2025) - Pasofino Gold Limited (TSXV: VEIN) (OTCQB: EFRGF) (FSE: N07A) ("Pasofino" or the "Company") announces that its shareholder rights plan agreement between Pasofino and Computershare Investor Services Inc. (the "Rights Agent") dated November 1, 2024 (the "Rights Plan") and all of the outstanding rights issued under the Rights Plan (the "Rights") terminated today.
Pursuant to Policy 3.1 of the TSX Venture Exchange, and the terms of the Rights Plan, the Rights Plan must be approved by a majority of the votes cast by shareholders of the Company who vote in respect of such approval at a meeting of shareholders of the Company held within six (6) months of the effective date of the Rights Plan (being May 1, 2025) (the "Ratification Deadline"). Since such requisite shareholder approval was not obtained prior to the Ratification Deadline, the Rights Plan and all outstanding Rights terminated and are void and of no further force and effect as of the Ratification Deadline.
Accordingly, in accordance with the terms of the Rights Plan: (i) all Rights outstanding immediately prior to the Ratification Deadline have ceased to represent any right or entitlement under the Rights Plan including, without limitation, the right to acquire common shares of the Company; (ii) each holder of Rights immediately prior to the Ratification Deadline has ceased to be a holder of Rights and to have any rights or entitlements as a holder of Rights; (iii) any certificate, advice, statement, instrument, deposit or entry (whether physical, electronic or otherwise) which evidenced Rights immediately prior to the Ratification Deadline has ceased to represent a right or entitlement of any kind or nature under the Rights Plan or in relation to the Rights; and (iv) neither the Company nor the Rights Agent will register or otherwise give effect to any purported exercise, transfer or exchange of any Rights from or after the Ratification Deadline.
For further information concerning the Rights Plan, please refer to the Company's news release dated November 1, 2024.
ABOUT PASOFINO GOLD LTD.
Pasofino Gold Limited is a Canadian-based mineral exploration company listed on the TSXV (VEIN).
Pasofino, through its wholly owned subsidiary, owns 100% of the Dugbe Gold Project (prior to the issuance of the Government of Liberia's 10% carried interest).
Brett A. Richards, Chief Executive Officer and Director T: 905 449 1500 E: brett@brettrichards.org
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 release.
This news release contains "forward-looking statements" that are based on expectations, estimates, projections and interpretations as at the date of this news release. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "indicate", "may", "will", "should" and other similar words or statements that certain events or conditions "could" or "might" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors may include, but are not limited to the risks outlined in the Company's most recent management discussion and analysis as filed on SEDAR+. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
What happened to Pasofino Gold's (EFRGF) shareholder rights plan on May 1, 2025?
Pasofino Gold's shareholder rights plan was terminated on May 1, 2025, due to failure to obtain required shareholder approval within the six-month deadline.
Why did Pasofino Gold's (EFRGF) rights plan terminate?
The rights plan terminated because the company failed to secure majority shareholder approval by the May 1, 2025 deadline, as required by TSX Venture Exchange Policy 3.1.
What are the implications of Pasofino Gold's (EFRGF) rights plan termination?
All outstanding rights have ceased to represent any entitlements, including rights to acquire common shares. All certificates and instruments evidencing these rights are now void and unenforceable.
When was Pasofino Gold's (EFRGF) original rights plan established?
The original shareholder rights plan agreement was established on November 1, 2024, between Pasofino Gold and Computershare Investor Services Inc.
An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
