Lepidico Ltd (ASX:LPD) (“Lepidico” or “Company”) is pleased to advise that that Desert Lion Energy Inc. (TSXV: DLI) ("Desert Lion Energy") has obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving a statutory plan of arrangement (the “Arrangement”) under the Business Corporations Act (Ontario) pursuant to which a wholly owned subsidiary of Lepidico will acquire all of the outstanding common shares of Desert Lion Energy (the “Common Shares”).
Pursuant to the Arrangement, holders of Common Shares will receive 5.4 Lepidico shares for each Common Share held. Receipt of the final order follows the annual and special meeting of Desert Lion Energy holders of Common Shares held on Thursday, June 27, 2019 in Toronto, Canada, at which shareholders overwhelmingly approved the Arrangement.
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