Virginia Energy Resources Inc. (TSXV:VAE,OTCQX:VAERF) announced changes to its plan of arrangement have been approved by shareholders and the Supreme Court of British Columbia.
As quoted in the press release:
Pursuant to the Arrangement, the Company will change its name to “Anthem Resources Incorporated”. The new company that results from the merger of Holdco into VUL will own 100% of the Coles Hill uranium project and the Otish property and shall take over the name “Virginia Energy Resources Inc.”
Under the Arrangement, current shareholders of the Company as at the effective date of the Arrangement will be entitled to receive, for each common share of the Company held as at such date: (a) 1/3 of a post-Arrangement common share of Anthem Resources; and (b) 0.1 of a common share of Virginia Energy; and shareholders of Holdco (other than the Company and VUL) as at the Effective Date will be entitled to receive 0.1817 of a Virginia Energy Common Share for each non-voting common share of Holdco held.