With the completion of a successful takeover offer for all the shares of Suntac Minerals (VSE) not already owned, Canarc Resources (VSE) will hold a total of 13,070,581 shares, or about 91% of Suntac’s outstanding shares.
Holders of 4,297,914 shares of Suntac accepted Canarc’s offer to exchange 3.5 Suntac shares for one Canarc share and as a result, Canarc expects to issue 1,227,975 shares.
In addition, Canarc has extended its offer to acquire the remaining shares of Suntac not yet tendered until midnight, Jan. 26, 1993.
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