The Toronto Stock Exchange reports that Silver Elephant Mining Corp. has completed a plan of arrangement to effect the consolidation of its shares and the distribution of certain common shares of Flying Nickel Mining Corp., Nevada Vanadium Mining Corp. and Battery Metals Royalties Corp. held by Silver Elephant to its shareholders. According to the TSX, Silver Elephant shareholders will receive, in respect of every 10 Silver Elephant shares held: (i) one postconsolidation share of Silver Elephant; (ii) one Flying Nickel share; (iii) one Nevada Vanadium share; and (iv) two Battery Metals shares.
The TSX notes that no fractional postconsolidation shares, Flying Nickel shares, Nevada Vanadium shares or Battery Metals shares will be issued pursuant to the arrangement. Any fractional entitlements to arrangement shares will be rounded down to the nearest whole number without payment of any additional consideration.
According to the TSX, the postconsolidation shares of Silver Elephant will be listed on the TSX at the open on Jan. 18, 2022, in substitution for the preconsolidation shares and will continue to trade under the symbol ELEF. The Flying Nickel, Nevada Vanadium and Battery Metals shares will not be concurrently listed on any stock exchange.
For more information, see Silver Elephant's management information circular dated Nov. 14, 2021.
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