Mr. Robert Cameron of Commander reports
COMMANDER RESOURCES OBTAINS INTERIM ORDER FOR PLAN OF ARRANGEMENT AND PROVIDES DETAILS OF SHAREHOLDER MEETING
Enduro Metals Corp. and Commander Resources Ltd. have obtained an interim order of the Supreme Court of British Columbia in connection with the previously announced proposed transaction between the parties whereby Enduro will acquire all of the issued and outstanding securities of Commander, to be implemented under a statutory plan of arrangement pursuant to Section 288 of the Business Corporations Act (British Columbia). The interim order provides for the holding of an annual general and special meeting of Commander shareholders to, among other things, consider and vote on a special resolution approving the arrangement. The meeting is scheduled to be held at Commander's offices located at 11th floor -- 1111 Melville St., Vancouver, B.C., on May 15, 2025, at 10 a.m. (Vancouver time) and the record date for determining Commander shareholders entitled to receive notice of and vote at the meeting has been fixed as at the close of business on April 9, 2025.
Meeting materials
In connection with the meeting, Commander will be mailing a notice of meeting, a management information circular, letter of transmittal and related meeting materials to applicable Commander securityholders. Securityholders are urged to carefully review all meeting materials as they contain important information concerning the arrangement and the rights and entitlements of the securityholders in relation thereto. The meeting materials will also be available under Commander's profile on SEDAR+ once they have been mailed to securityholders in the coming days.
Final order and completion date
An application for the final order of the court approving the arrangement is currently expected to take place on or about May 26, 2025. Subject to obtaining the final order, the required approvals from Commander's securityholders at the meeting, required regulatory approvals and the satisfaction of all other conditions to implementing the arrangement as set out in the arrangement agreement entered into between Enduro and Commander on Feb. 25, 2025, the arrangement is anticipated to be completed in May of 2025.
Voting requirements
The arrangement resolution must be approved by not less than 66.67 per cent of the votes cast by the Commander shareholders present in person or represented by proxy at the meeting.
Investors are cautioned that, except as disclosed in the management information circular prepared in connection with the arrangement, any information released or received with respect to the arrangement may not be accurate or complete and should not be relied upon. Trading in the securities of Commander and Enduro should be considered highly speculative.
Commander has received several irrevocable support agreements in favour of the transaction from management and significant shareholders totalling 13,133,900 shares or 29.7 per cent of issued and outstanding.
About Enduro Metals Corp.
Enduro Metals is an exploration company focused on its Newmont Lake project; a total 688-square-kilometre property located between Eskay Creek, Snip and Galore Creek within the heart of British Columbia's Golden Triangle. Building on prior results, Enduro's geological team has outlined multiple deposit environments of interest across the Newmont Lake project including high-grade epithermal/skarn gold along the McLymont fault, copper-gold alkalic porphyry mineralization at Burgundy, newly discovered copper-gold porphyry mineralization at North Toe, and a large 10-kilometre-by-four-kilometre geochemical anomaly hosting various gold, silver, copper, zinc, nickel, cobalt and lead mineralization along the Chachi corridor.
About Commander Resources Ltd.
Commander is a Canadian-focused exploration company that has leveraged its success in exploration through a combination of partnerships and sole financed exploration. Commander has a portfolio of base and precious metal projects across Canada including its flagship Burn project, a newly discovered porphyry copper-gold project in the Babine copper belt of central British Columbia and its October Dome copper and gold porphyry target in central British Columbia and the company's Sabin VMS (volcanogenic massive sulphide) project in Ontario.
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