Proposed name of the new company is Silverside Resources Inc. Share conversion would be on the basis of one old Silverside common share for one new company share; three Proteus common shares for one new company share; and three preference shares of Proteus for one preference share of the new company.
After amalgamation, the issued capital would consist of about 10.7 million common shares, 320,000 shares reserved for issuance pursuant to outstanding warrants, 201,000 shares reserved for issuance pursuant to director and employee stock options, and 392,307 preference shares.
The amalgamation is subject to regulatory approval and the approval of both Silverside and Proteus shareholders.
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