09:16 AM EST - Usha Resources Ltd : Announced it has determined March 24, 2023 to be the share distribution record date, with respect to the plan of arrangement among the Company, Formation Metals Inc. and the shareholders of the Company. Under the terms of the Arrangement and upon completion of the share exchange prescribed by Article 3 of the Arrangement, the USHA Shareholders of record at the close of business on the Record Date will receive one common share of FMI with respect to every five common shares of USHA held on the Record Date. For example, for each 10,000 common shares of USHA owned on the Share Distribution Record Date, the USHA Shareholder will own 2,000 common shares of FMI. USHA common shares will be exchanged for new USHA common shares on a one-to-one basis. USHA Shareholders will continue to own the same number of USHA common shares as they did on the Record Date. The Formation Metals Shares will be issued to the USHA Shareholders on or around April 3, 2023. Usha Resources Ltd
shares V.USHA are trading down one cent at $0.34.
Full Press Release: https://www.baystreet.ca/quotedata/quote.aspx?ticker=USHA%3ACA&qmodStoryID=8631044408688435
