Canasil Shareholders Approve Proposed Spin-off of B.C. Properties to Canmine Minerals Inc. At Special Meeting of Shareholders held on December 12, 2017

canasil_dec 14, 2017

Vancouver, December 14, 2017 – Canasil Resources Inc. (TSX-V: CLZ, DB Frankfurt: 3CC, “Canasil” or the “Company”) announces that the Company’s shareholders have approved the Plan of Arrangement to segregate its British Columbia properties into a separate company, Canmine Minerals Inc. (“Canmine”), at the Special Meeting of Shareholders held on December 12, 2017. The details of votes cast at the Special Meeting are summarized in the table below:

Resolution Votes Shares Voted % Voted % of O/S Shares
PLAN OF ARRANGEMENT For
Against
43,184,652
50,422
99.88
0.12
42.38
0.05
CANMINE STOCK OPTION PLAN For
Against
43,106,652
128,422
99.70
0.30
42.30
0.13

The Company will now apply for the Final Court Order to approve the arrangement, following which the Directors of Canasil and Canmine will proceed with the arrangements for meeting the initial listing requirements for the listing of Canmine on the TSX Venture Exchange (“the “Exchange”). Assuming that the Court Order is granted, the Directors of Canasil and Canmine will determine the timing for the remaining steps for the completion of the Arrangement.

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