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VANCOUVER, British Columbia, Feb. 09, 2024 (GLOBE NEWSWIRE) — Lancaster Assets Inc. (CSE:LCR | OTCQB:LANRF | FRA:6UF0) (“Lancaster” or the “Firm”) is happy to announce that on February 2, 2024, the Supreme Courtroom of British Columbia granted an interim order (the “Interim Order”) in reference to the proposed spin-off of Nelson Lake Copper Corp. (“Nelson Lake”) by Lancaster by the use of Plan of Association (the “Association”). For additional data on the Association and the association settlement (the “Association Settlement“), please check with Lancaster’s information launch dated January 30, 2024.
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The Interim Order, amongst different issues, directs Lancaster to name and maintain a particular assembly (the “Assembly“) of the holders of Lancaster frequent shares (the “Shareholders“) in accordance with the Enterprise Firms Act, BC, to go a particular decision to approve the Association. In accordance with the Interim Order, the Assembly will likely be held at 10:00 a.m. (Vancouver time), March 15, 2024, on the workplaces of the Firm.
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The document date for figuring out the Shareholders entitled to obtain discover and to vote on the Assembly was the shut of enterprise on February 5, 2024, as was described within the Firm’s press launch dated January 30, 2024.
In reference to the Assembly, the Firm will mail an data round (the “Round”), along with associated proxy supplies (collectively, the “Assembly Supplies“) to Shareholders in accordance with relevant securities legal guidelines. The Assembly Supplies may even be out there on SEDAR (www.sedar.com) beneath Lancaster’s profile.
To be efficient, the Association have to be accredited by a particular decision handed on the Assembly by a minimum of two-thirds (66 ⅔%) of the votes solid on the Assembly in individual or by proxy by the Shareholders.
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If all crucial approvals are obtained, the Firm expects that the Association will shut in March 2024.
About Lancaster Assets Inc.
Lancaster Assets (CSE:LCR | OTCQB:LANRF | FRA:6UF0) is engaged in exploring vital minerals. Its Alkali Flat Lithium Undertaking, in Lordsburg, New Mexico, USA, entails the exploration of a below-surface lithium brine goal. Lancaster’s purpose at Alkali Flat is to provide Internet-Zero Lithium by means of using direct lithium extraction (DLE) expertise and solar energy. Lancaster can also be collaborating to deploy superior satellite tv for pc hyperspectral acquisition, geospatial information aggregation, and AI-driven predictive modelling companies for the exploration of lithium, uranium, uncommon earth components (REE), and different vital minerals
Lancaster’s mission portfolio contains rights to accumulate the Trans-Taiga Lithium Property positioned throughout the James Bay lithium district of Quebec and the Nelson Lake Copper Undertaking in Saskatchewan, Canada, held by means of its subsidiary Nelson Lake Copper Corp. Lancaster is within the strategy of divesting a majority of its possession in Nelson Lake by means of a spin-off transaction. Guiding Lancaster’s journey is a talented administration and technical group with collective involvement in over 15 business mineral discoveries and endowed with intensive expertise within the creation of lithium brine targets and the exploration and growth of exploration initiatives throughout Canada, the American West, Mexico, and South America.
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Penny White, President & Chief Govt Officer
Lancaster Assets Inc.
E-mail: penny@lancasterlithium.com
Tel: 604 923 6100
Web site: www.lancaster-resources.com
Cautionary Assertion Concerning Ahead-Trying Statements
Sure statements contained on this press launch represent forward-looking data. These statements relate to future occasions or Lancaster’s future efficiency. Using any of the phrases “may,” “anticipate,” “consider,” “will,” “projected,” “estimated,” and related expressions and statements regarding issues that aren’t historic info are supposed to establish forward-looking data and are based mostly on Lancaster’s present perception or assumptions as to the result and timing of such future occasions. Precise future outcomes might differ materially. Particularly, the flexibility of Lancaster to enter into an Association Settlement and meet the opposite situations precedent of the Spin-Off Settlement, the flexibility of Lancaster to execute its exploration plans, get hold of exploration and drilling permits, increase capital, retain key personnel, establish, purchase, discover, and develop high-quality mineral-rich properties, and combine sustainable vitality sources and modern applied sciences for climate-positive useful resource manufacturing represent forward-looking data. Precise outcomes and developments might differ materially from these contemplated by forward-looking data.
Readers are cautioned to not place undue reliance on forward-looking data. The statements made on this press launch are made as of the date hereof. Lancaster disclaims any intention or obligation to publicly replace or revise any forward-looking data, whether or not because of new data, future occasions, or in any other case, besides as could also be expressly required by relevant securities legal guidelines.
The Canadian Securities Alternate has not reviewed, accredited or disapproved the contents of this information launch.
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