Copperbank and Full Metal Announce Completion of Arrangement
It is expected that the common shares of Copperbank (the "Copperbank Shares") and warrants issuable in connection with the Arrangement (the "Arrangement Warrants") will commence trading on the CSE within the next 7-10 days. The symbol for the the Copperbank Shares will be "CBK" and is anticipated that the symbol for the Arrangement Warrants will be "CBK.WT". Copperbank will provide a further update once the commencement of trading date is formally set.
The common shares of Full Metal, which were halted at market open today, are expected to re-commence trading at market open tomorrow. Any shares of Full Metal acquired after trading resumes will have no entitlement to receive Copperbank Shares or Arrangement Warrants. The common shares of Choice were halted at market open today in preparation for closing and pending listing of the Copperbank Shares and Arrangements Warrants on the CSE.
Computershare Investor Services Inc. (the "Depositary") is acting as the depositary in connection with the Arrangement. At the time of mailing of the joint information circular (the "Circular") dated September 12, 2014 to shareholders of Choice, Full Metal and IEC Spinco (collectively the "Shareholders"), each of Choice, Full Metal and IEC Spinco sent a letter of transmittal (each a "Letter of Transmittal" and collectively, the "Letters of Transmittal") for use by their respective registered Shareholders. Non-registered Shareholders should contact their broker or other intermediary for instructions and assistance in receiving the Copperbank Shares and Arrangement Warrants, as applicable.
The Letters of Transmittal contain complete instructions with respect to the deposit of certificates representing shares of Choice, Full Metal and IEC Spinco, as applicable, with the Depositary at its offices in Toronto, Ontario and Vancouver, British Columbia in order to receive certificates representing Copperbank Shares and, as applicable, post-Arrangement class A common shares of Full Metal ("FMM Class A Shares") and Arrangement Warrants to which they are entitled under the Arrangement. Registered Shareholders should read and follow these instructions. Copies of the Full Metal Letter of Transmittal, IEC Spinco Letter of Transmittal and Choice Letter of Transmittal are available on SEDAR at www.sedar.com under the respective profiles of Full Metal, IEC Spinco and Choice.
Following the Effective Date, the Letters of Transmittal, when properly completed and delivered together with certificates representing the applicable shares of Choice, Full Metal or IEC Spinco, as applicable and such other documents as the Depositary may require, will enable former registered Shareholders to obtain the certificates for Copperbank Shares and, as applicable, FMM Class A Shares and Arrangement Warrants to which they are entitled pursuant to the Arrangement. Certificates will be mailed to registered Shareholders as soon as is practicable following receipt by the Depositary of a completed Letter of Transmittal and other required documents at the address specified in such Letter of Transmittal. If requested, certificates may be picked up by the holder at the office of the Depositary.
Holders of warrants of Choice issuable on the conversion of subscription receipts (see press release dated October 16, 2014) and certain warrants of IEC Spinco are not required to take any steps or complete any letter of transmittal in order to receive their Arrangement Warrants, which will be automatically distributed by the Depositary following the Effective Date.
For additional information, please review the section of the Circular entitled "The Arrangement – Procedure for Exchange of Securities" a copy of which is available on SEDAR at www.sedar.com under the profiles of each of IEC Spinco, Choice, and Full Metal.
On behalf of Copperbank Resources Corp..
"Gianni Kovacevic"
Chairman
On behalf of Full Metal Minerals Ltd.
"Rob McLeod"
Chief Executive Officer and Director
Certain information in this release, including regarding the listing of the Copperbank Shares and Arrangement Warrants on the CSE and commencement or re-commencement of trading of securities of Copperbank and Full Metal, as applicable, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although Choice, Full Metal and IEC Spinco believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. For more information on each of Choice, Full Metal and IEC Spinco and the risks and challenges of their businesses, investors should review the Circular and their annual filings that are available at www.sedar.com.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
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