Silbak, Pioneer merger

The effective date for the amalgamation of Silbak Premier Mines (VSE) and Pioneer Metals Corp. (TSE) was set for May 11, with the amalgamated company trading as Pioneer Metals Corp. on both the Vancouver and Toronto stock exchanges.

Following the amalgamation, outstanding class A common Silbak shares are to be converted to the amalgamated shares on the basis of 3 1/2 for each one share of the amalgamated company. Common shares of Pioneer became common shares of the amalgamated company without any further action by the holders.