Mangazeya Mining Ltd. Announces De-Listing Date
June 20, 2022 – Road Town, Tortola, British Virgin Islands. Mangazeya Mining Ltd. (the “Company”) (NEX: MGZ.H) announces that, further to its announcement on June 3, 2022, following the redemption of shares held by minority shareholders of the Company in accordance with the provisions of section 176 of the BVI Business Companies Act, 2004 (as amended) (the “Act”) on May 25, 2022, the Company no longer meets the ongoing listing requirements of the NEX Board of the TSX Venture Exchange and will be de-listed effective at the close of trading on July 4, 2022.
Certain of the Minority Shareholders holding 59,862,680 shares have exercised dissent rights in respect of the redemption. The Company is engaging with such dissenting shareholders to determine the fair value of the Company’s shares in accordance with the Act. In the event the Company is not able to terms with dissenting shareholders the Act provides for an appraisal process which is binding on the parties.
About Mangazeya Mining Ltd.
Mangazeya Mining Ltd. is a NEX-listed mining and exploration company, focused on the development of mineral resources in the Russian Federation.
Mangazeya Mining Ltd.