Whitehaven Coal to cut 192 jobs at mines purchased from BHP
Whitehaven had announced plans in October to buy out BHP's Blackwater and Daunia mines in a $4.1 billion deal.
Vancouver, British Columbia--(Newsfile Corp. - August 16, 2024) - Oracle Commodity Holding Corp. (TSXV: ORCL) (OTCQB:ORLCF) ("Oracle") , a shareholder of Flying Nickel Mining Corp. (the "Company"), announces the filing of an early warning report pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103"). Oracle directly acquired an aggregate of 33,957,143 common shares in the capital of the Company (the "Shares") in connection with the Company's statutory plan of arrangement pursuant to Section 288 of the Business Corporations Act (British Columbia) with Nevada Vanadium Mining Corp. (the "Arrangement").
Oracle acquired the 33,957,143 Shares in exchange for the 33,957,143 commons shares it held in the capital of Nevada Vanadium Mining Corp. pursuant to the Arrangement. The price per Share the day before the Arrangement closed was $0.06, representing aggregate consideration of $2,037,429 paid to Oracle pursuant to the Arrangement.
Following the Arrangement, Oracle owns and controls 42,799,502 Shares and 1,737,587 warrants for purchasing Shares, representing approximately 28.93% of the Shares (calculated on a partially diluted basis after giving effect to the warrants held by Oracle). Prior to the Arrangement, Oracle owned 8,842,359 Shares which represented 10.04% of the Common Shares outstanding prior to completion of the Arrangement.
Oracle acquired the securities of the Issuer for investment purposes. In pursuing such purposes, Oracle takes a long-term view of its investment and reserves the right to formulate other plans or make other proposals, and take such actions with respect to its investment in the Issuer. Depending on market conditions and other factors, Oracle may acquire additional securities of the Issuer as Oracle may deem appropriate, whether in open market purchases, privately negotiated transactions or otherwise. Oracle may dispose of some or all of such securities. Oracle may also reconsider and change its plans or proposals relating to the foregoing.
Oracle is not relying on any exemptions from requirements in securities legislation applicable to formal bids. An early warning report pursuant to the requirements of applicable securities laws will be issued by the Oracle and will be posted to SEDAR+ at www.sedarplus.ca and available on request at the number below.
A copy of the early warning report has been filed on www.sedarplus.ca.
About Oracle Commodity Holding Corp.
Oracle Commodity Holding Corp. is a mining royalty company spun out from Silver Elephant Mining Corp. (TSX: ELEF) in 2022.
Further information on Oracle Commodity can be found at www.oracleholding.com.
ORACLE COMMODITY HOLDING CORP.
ON BEHALF OF THE BOARD
"Anthony Garson"CEO
For more information about Oracle Commodity, please contact:
Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220308
