- Plateau Energy Metals will hold a special meeting of shareholders and option holders on May 3, 2021, to approve the acquisition of the company by American Lithium
- Materials for the meeting have been mailed out to eligible security holders
- Once the agreement is completed, Plateau will become a wholly-owned subsidiary of American Lithium
- Plateau Energy Metals is an exploration stage company
- American Lithium is an exploration-stage company engaged in the acquisition, exploration, and development of lithium deposits
- Plateau Energy Metals (PLU) is trading at C$0.70 per share
Plateau Energy Metals will hold a special meeting of shareholders and option holders to approve the acquisition of the company by American Lithium.
The acquisition, which was previously announced in February, is expected to close in early May 2021.
Plateau announced today that it has received an interim order from the Ontario Superior Court of Justice to hold the special meeting, which will take place virtually on May 3, 2021 at 10:00 am ET.
Materials for the meeting have been mailed out to eligible security holders.
Dr. Laurence Stefan, Plateau’s interim CEO, stated,
“We are pleased that the process required to implement this transaction is now well advanced and we look forward to the deal being consummated so we can focus on accelerating the development of two prime lithium assets.”
Simon Clarke, Director of American Lithium, also commented on the transaction.
“There are strong synergies between our respective assets and our respective teams which further underpins the rationale for this transaction and we fully believe that the combined company will be much stronger than the sum of its parts,” he stated.
The agreement will require the following approvals:
- at least 66 2/3 per cent of the votes cast by all Plateau shareholders;
- at least 66 2/3 per cent of the votes cast by all Plateau shareholders and all holders of Plateau stock options voting together as a single class; and
- a simple majority of the votes cast by all Plateau shareholders excluding certain interested or related parties.
Once the agreement is completed, American Lithium will acquire all outstanding shares of Plateau, and Plateau will become a wholly-owned subsidiary of American Lithium.
Plateau Energy Metals is an exploration stage company in the process of acquisition, and exploration, and evaluation of mineral properties in Peru.
American Lithium is a Canada-based exploration-stage company engaged in the acquisition, exploration, and development of lithium deposits.
Plateau Energy Metals (PLU) is steady, trading at C$0.70 per share as of 1:22 pm ET.
