Kria Resources Announces Shareholder Approval of Proposed Arrangement with Trevali Resources Corp.admin
Kria Resources Ltd. is pleased to announce that Kria shareholders have approved the proposed arrangement whereby Trevali Resources Corp. will acquire all of the issued and outstanding common shares of Kria and Kria will become a wholly owned subsidiary of Trevali (the “Arrangement”). At the special meeting called to consider, among other things, the Arrangement, Kria disinterested shareholders holding approximately 49% of the issued and outstanding common shares of Kria and voted with more than 99% of the votes cast being voted FOR the Arrangement.
Pursuant to the terms of the Arrangement, each Kria common share will be exchanged for 0.2 of a Trevali common share (the “Exchange Ratio”). Each outstanding Kria convertible security will be exercisable for Trevali common shares based on the Exchange Ratio.
Subject to receipt of final court and regulatory approvals, the Arrangement is expected to close on April 6, 2011.