CEO Ray Paquette says, “over the past several days I have received a number of calls and emails from our shareholders with questions about our news release of February 17, 2017 titled “Canadian Zeolite Announces Proposed Spin-Out of Bullard Pass Property.”
Here are the facts:
1. For shareholders who have been with us for some time, you will recall our former Company name was Canadian Mining Company Inc. which conducted exploration on its Bullard Pass Property in Arizona as well as our zeolite projects in British Columbia.
2. In February 2016, we changed our name from Canadian Mining Company Inc. to Canadian Zeolite Corp. to better reflect our business model, grow our natural zeolite markets and focus on becoming Canada´s #1 zeolite producer.
3. At that time, Canadian Mining became a wholly-owned subsidiary of Canadian Zeolite Corp. and maintained the Bullard Pass Property as a project of merit for future consideration.
4. To create an added benefit for our shareholders we have undertaken to spin-out Canadian Mining Company and the Bullard Pass Property to create a separate and new public company.
What´s in it for our Shareholders?
1. The shares you hold in Canadian Zeolite Corp. will not be affected by the spin-out.
2. Following the AGM on April 28, 2017, acceptance by the shareholders and approval by the TSX each shareholder in Canadian Zeolite Corp. will then receive one share in Canadian Mining for every 5 Canadian Zeolite Corp. shares they hold on the record date. There is no cost to the shareholder, only a benefit.
"We are very pleased to have this opportunity to reward our shareholders and continue to expand Canadian Zeolite´s markets."
On behalf of the Board of Directors
President & CEO