Summa Silver Receives Shareholder and Court Approval for Plan of Arrangement
Summa Silver Corp. (OTCQX: SSVRF) has secured both shareholder and court approval for its previously announced acquisition by Silver47 Exploration Corp. At the special shareholder meeting on July 24, 2025, an overwhelming 99.75% of votes (44,833,356 shares) were cast in favor of the transaction.
The Supreme Court of British Columbia granted final approval on July 25, 2025. The transaction is expected to close around August 1, 2025, with Summa's shares planned for delisting from TSX Venture Exchange near August 5, 2025. Following completion, Summa will seek to terminate its reporting issuer status under Canadian securities laws.
Summa Silver Corp. (OTCQX: SSVRF) ha ottenuto l'approvazione sia degli azionisti che del tribunale per l'acquisizione precedentemente annunciata da parte di Silver47 Exploration Corp. Durante l'assemblea speciale degli azionisti tenutasi il 24 luglio 2025, un netto 99,75% dei voti (44.833.356 azioni) è stato espresso a favore dell'operazione.
La Corte Suprema della British Columbia ha concesso l'approvazione finale il 25 luglio 2025. L'operazione dovrebbe concludersi intorno al 1° agosto 2025, con la prevista cancellazione delle azioni Summa dalla TSX Venture Exchange intorno al 5 agosto 2025. Al completamento, Summa cercherà di terminare il proprio status di emittente soggetto a obblighi di comunicazione secondo le leggi sui titoli canadesi.
Summa Silver Corp. (OTCQX: SSVRF) ha obtenido la aprobación tanto de los accionistas como del tribunal para su adquisición previamente anunciada por Silver47 Exploration Corp. En la reunión especial de accionistas del 24 de julio de 2025, un abrumador 99,75% de los votos (44,833,356 acciones) se emitieron a favor de la transacción.
La Corte Suprema de Columbia Británica otorgó la aprobación final el 25 de julio de 2025. Se espera que la transacción se cierre alrededor del 1 de agosto de 2025, con la intención de que las acciones de Summa sean retiradas de la TSX Venture Exchange cerca del 5 de agosto de 2025. Tras la finalización, Summa buscará cancelar su estatus de emisor registrado bajo las leyes de valores canadienses.
Summa Silver Corp. (OTCQX: SSVRF)는 이전에 발표된 Silver47 Exploration Corp.에 의한 인수에 대해 주주 및 법원의 승인을 모두 확보했습니다. 2025년 7월 24일 열린 특별 주주총회에서 압도적인 99.75%의 찬성표(44,833,356주)가 거래에 찬성했습니다.
브리티시컬럼비아 대법원은 2025년 7월 25일 최종 승인을 내렸습니다. 거래는 2025년 8월 1일경 완료될 예정이며, Summa의 주식은 2025년 8월 5일경 TSX 벤처 거래소에서 상장폐지될 계획입니다. 완료 후 Summa는 캐나다 증권법에 따른 보고 의무자 지위를 종료하려고 합니다.
Summa Silver Corp. (OTCQX : SSVRF) a obtenu l'approbation des actionnaires ainsi que celle du tribunal pour son acquisition précédemment annoncée par Silver47 Exploration Corp. Lors de l'assemblée générale extraordinaire des actionnaires tenue le 24 juillet 2025, une écrasante majorité de 99,75 % des voix (44 833 356 actions) s'est prononcée en faveur de la transaction.
La Cour suprême de la Colombie-Britannique a donné son approbation finale le 25 juillet 2025. La transaction devrait être finalisée aux alentours du 1er août 2025, avec la radiation prévue des actions Summa de la TSX Venture Exchange vers le 5 août 2025. Après la clôture, Summa cherchera à mettre fin à son statut d'émetteur assujetti aux lois canadiennes sur les valeurs mobilières.
Summa Silver Corp. (OTCQX: SSVRF) hat sowohl die Zustimmung der Aktionäre als auch des Gerichts für die zuvor angekündigte Übernahme durch Silver47 Exploration Corp. erhalten. Bei der außerordentlichen Hauptversammlung am 24. Juli 2025 wurden überwältigende 99,75 % der Stimmen (44.833.356 Aktien) für die Transaktion abgegeben.
Der Oberste Gerichtshof von British Columbia erteilte am 25. Juli 2025 die endgültige Genehmigung. Die Transaktion soll um den 1. August 2025 abgeschlossen werden, wobei geplant ist, die Summa-Aktien um den 5. August 2025 von der TSX Venture Exchange zu streichen. Nach Abschluss wird Summa versuchen, seinen Status als berichtspflichtiger Emittent nach kanadischem Wertpapierrecht aufzuheben.
- Overwhelming shareholder approval with 99.75% of votes in favor
- Court approval obtained from Supreme Court of British Columbia
- Clear timeline for transaction completion established
- Delisting from TSX Venture Exchange will reduce stock liquidity
- Company will cease to be a public reporting issuer in Canada
Vancouver, British Columbia--(Newsfile Corp. - July 28, 2025) - Summa Silver Corp. (TSXV: SSVR) (OTCQX: SSVRF) ("Summa" or the "Company") is pleased to announce that at the special meeting (the "Meeting") of shareholders of the Company (the "Shareholders") held on July 24, 2025, the Shareholders overwhelmingly voted to approve the previously announced plan of arrangement under the Business Corporations Act (British Columbia) pursuant to which Silver47 Exploration Corp. will acquire (the "Transaction") all of the issued and outstanding common shares of the Company (the "Shares").
The Transaction required approval by the affirmative vote of at least two thirds of the votes cast by Shareholders. Of the votes cast at the Meeting with respect to the Transaction, an aggregate of 44,833,356 Shares were voted in favour of the Transaction, representing approximately
The Company is also pleased to announce that the Supreme Court of British Columbia granted a final order approving the Transaction on July 25, 2025.
The Transaction remains subject to certain customary closing conditions and is expected to close on or about August 1, 2025. It is anticipated that Summa's Shares will be delisted from the TSX Venture Exchange on or about August 5, 2025. Following completion of the Transaction, Summa will apply to cease to be a reporting issuer under applicable Canadian securities laws.
About Summa
Summa Silver Corp. is a junior mineral exploration company. Summa owns a
Galen McNamara
Chief Executive Officer
info@summasilver.com
www.summasilver.com
Giordy Belfiore
Corporate Development and Investor Relations
604-288-8004
giordy@summasilver.com
www.summasilver.com
Follow Summa Silver on X: @summasilver
LinkedIn: https://www.linkedin.com/company/summa-silver-corp/
Website: https://www.summasilver.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward looking and other cautionary statements
Statements contained in this news release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as "anticipates", "expects", "understanding", "has agreed to" or variations of such words and phrases or statements that certain actions, events or results "would", "occur" or "be achieved". Although the Company has attempted to identify important factors and risks that could affect the Company and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended, including, without limitation: the ability of Summa and Silver47 to satisfy the conditions to complete of the Transaction. In making the forward-looking statements in this news release, Summa has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. 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 statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, the Company does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/260204
FAQ
When will Summa Silver (SSVRF) complete its acquisition by Silver47 Exploration?
What percentage of Summa Silver shareholders approved the Silver47 acquisition?
When will Summa Silver (SSVRF) be delisted from the TSX Venture Exchange?
What approvals has Summa Silver received for the Silver47 acquisition?
What happens to Summa Silver's reporting status after the Silver47 acquisition?
