Upon successful completion of the acquisition, the Naikun Group will no longer be involved with the development and operations of the project and Northland will be responsible for all aspects of the project moving forward. Northland will work closely with the Haida Nation to explore the Project details and potential involvement in the project.
The transaction is anticipated to close in mid-2020, subject to the satisfaction of certain customary conditions, including but not limited to the company obtaining the applicable regulatory approvals and approval of the deal by way of a special resolution of the company’s shareholders.
The agreement has been approved unanimously by NaKun’s board of directors. The Board recommends that the shareholders vote in favor of approving the transaction at a special meeting of shareholders, to be scheduled as soon as possible.
The company is preparing a management information circular for shareholders that will further explain the terms and conditions of the transaction, and which will be delivered to shareholders.
