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BRIEF-First Bauxite Receives Final Court Order

Published 2018-12-21, 07:39 p/m
Updated 2018-12-21, 07:40 p/m
© Reuters.  BRIEF-First Bauxite Receives Final Court Order

Dec 21 (Reuters) - First Bauxite Corp FBX.V :

* FIRST BAUXITE RECEIVES FINAL COURT ORDER AND ARRANGEMENT HAS BECOME EFFECTIVE

* COURT DISMISSED SEPARATE OPPRESSION PROCEEDING COMMENCED BY A GROUP OF MINORITY SHAREHOLDERS WHO OPPOSED THE ARRANGEMENT

* RCF FUNDS NOW TOGETHER HOLD 100% OF COMMON SHARES

* FIRST BAUXITE- ALL CONDITIONS IN ITS ARRANGEMENT AGREEMENT BETWEEN CO,RESOURCE CAPITAL FUND V L.P.,RESOURCE CAPITAL FUND VI L.P HAVE BEEN SATISFIED

* CO'S COMMON SHARES HAVE BEEN CONSOLIDATED ON BASIS OF 100 MILLION COMMON SHARES OF CO TO ONE POST-CONSOLIDATION COMMON SHARE

* ARRANGEMENT HAS NOW BECOME EFFECTIVE

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