Zenith Exploration Inc. Announces the Share Distribution Record Date Pursuant to the Plan of Arrangement
Suite 1080, 789 West Pender Street Vancouver, BC V6C 1H2
NEWS RELEASE
ZENITH EXPLORATION INC. ANNOUNCES THE SHARE DISTRIBUTION RECORD DATE PURSUANT TO THE PLAN OF ARRANGEMENT
Vancouver, BC – August 21, 2019 – Zenith Exploration Inc. (CSE: “ZX”) (“Zenith” or the “Company”) announces that the Board of Directors of the Company has established September 13, 2019 as the share distribution record date (the “Share Distribution Record Date”) for the purpose of determining shareholders of the Company entitled to receive common shares of High Point Exploration Inc. and Top Exploration Inc. pursuant to the plan of arrangement dated May 28, 2019 (the “Arrangement”).
The Share Distribution Record Date has been established for the purpose of determining the shareholders of Zenith entitled to receive the common shares of High Point Exploration Inc. and Top Exploration Inc. It is not the date of which the shareholders of Zenith can expect to receive the common shares of High Point Exploration Inc. and Top Exploration Inc. Common shares of High Point Exploration Inc. and Top Exploration Inc. are expected be issued on September 20, 2019.
Each Zenith Shareholder will continue to be a shareholder of the Company and each Zenith Shareholder as of the Share Distribution Record Date will receive one common share of High Point Exploration Inc. and one common share of Top Exploration Inc. with respect to every five common shares of Zenith.
No action is required on the part of Zenith shareholders to receive the common shares of High Point Exploration Inc. and Top Exploration Inc. Those shareholders of Zenith entitled to receive the common shares of High Point Exploration Inc. and Top Exploration Inc. will be mailed either a share certificate or a direct registration statement evidencing their High Point Exploration Inc. and Top Exploration Inc. common shares to the mailing address currently on file with the transfer agent or the shares will be credited directly to the respective brokerage accounts.
Option and warrant holders who exercise their options or warrants and are shareholders of Zenith on the Share Distribution Record Date, will receive common shares of High Point Exploration Inc. and Top Exploration Inc. However, the option and warrant holders of Zenith will not be receiving options or warrants in Top Exploration Inc. and High Point Exploration Inc. pursuant to the Arrangement.
The Arrangement has been approved by the shareholders of Zenith on August 13, 2019 and by the Supreme Court of British Columbia on August 19, 2019. Details of the Arrangement are set out in the management information circular of Zenith dated July 9, 2019 (the “Circular”) and the news release dated May 28, 2019, both available under Zenith’s profile on SEDAR (www.sedar.com).
On Behalf of the Board of Directors
ZENITH EXPLORATION INC.
Brent Hahn Chief Executive Officer Telephone: 604-428-7050
Zenith Exploration Inc.
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Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
FORWARD LOOKING STATEMENT This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Zenith Exploration Inc., the raising of additional capital and the future development of the business. The forward-looking information is based on certain key expectations and assumptions made by the company's management. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. These forward-looking statements are made as of the date of this press release and Zenith disclaims any intent or obligation to update publicly any forwardlooking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.