Plan of Arrangement Supported by Kettle River Shareholders
Vancouver, BC – October 19, 2015 – New Nadina Explorations Limited (“New Nadina”) (TSX-V:NNA) and Kettle River Resources Ltd.(“Kettle River”) (TSX-V: KRR) are pleased to report that Kettle River securityholders have voted overwhelmingly in favour of the previously announced arrangement (“Arrangement”) [see joint news releases of July 20, 2015 and August 17, 2015] whereby New Nadina will acquire all of the outstanding common shares of Kettle River, resulting in Kettle River becoming a wholly-owned subsidiary of New Nadina. At Kettle River’s annual general and special meeting held October 16th, Kettle River’s securityholders voted 99.81% in favour of the special resolution to approve the Arrangement.
Kettle River will next apply for a final order of the Supreme Court of British Columbia for approval of the Arrangement on October 23, 2015, and assuming receipt of Court approval and that all other remaining conditions to the Arrangement are either satisfied or waived, the Company expects that the closing date of the Arrangement (the “Effective Date”) will occur on or about Friday, November 6, 2015.
Under the terms of the Arrangement, Kettle River shareholders on the Effective Date will receive 1 New Nadina common share for every Kettle River share held. No fractional shares of New Nadina will be issued, and fractions will be rounded down to the nearest lower whole share.
For complete details of the plan of Arrangement, interested persons are directed to the Information Circular filed on SEDAR (www.sedar.com) by Kettle River under its SEDAR profile.
On Behalf of New Nadina’s Board On Behalf of Kettle River’s Board
“William Meyer” “Stephen Levano”
William Meyer Stephen Levano
For further information contact Ellen Clements at 1-800-856-3966.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.