Comaplex Shareholder Requests OASC Hearing
Comaplex Minerals Corp. (TSX-CMF) has reported that Agnico-Eagle Mines Limited (“Agnico”), a shareholder of Comaplex, has submitted a request for a hearing and review by the Ontario Securities Commission (the “OSC”) of the decision of the Toronto Stock Exchange (the “TSX”) whereby the TSX approved the issuance of an aggregate of 12,750,000 common shares of Comaplex (the “Shares”) to Perfora Investments S.a.r.l. (“Perfora”) as consideration for all of the issued and outstanding shares of Meliadine Resources Ltd. (“MRL”), (the “Transaction”).
The Transaction resulted in Perfora being issued approximately 17.9% of the outstanding shares of Comaplex in exchange for 22% of the Meliadine West Property and 50% of the Meliadine East Property owned by MRL. MRL was subsequently amalgamated into Comaplex. Comaplex now owns 100% of both the Meliadine West and Meliadine East Properties.
Agnico has requested that the OSC issue an order: (i) setting aside the TSX Decision; (ii) requiring Comaplex to call and hold a meeting of its shareholders in order to obtain the approval of the independent shareholders (shareholders other than Perfora and its affiliates and Comaplex’s directors and officers and their respective related parties and joint actors) of the issuance of the Shares to Perfora pursuant to the Transaction; and (iii) unwinding the Transaction absent the approval of a simple majority of the votes cast by the independent shareholders at a duly convened special meeting of its shareholders.
The Transaction closed in December of 2009. Comaplex believes that the Request is completely without merit and will oppose the application.
