Key Developments: Formation Metals Inc (FMETF.PK)

FMETF.PK on OTC Markets Group

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Latest Key Developments (Source: Significant Developments)

Dundee Drops Lawsuit Against Formation Metals
Thursday, 29 May 2014 08:00am EDT 

Formation Metals Inc:Says Dundee Corp files a consent dismissal order of the Petition proceedings with the Supreme Court of British Columbia to dismiss the proceedings against Formation and all other respondents.All parties of record to the proceeding have agreed to the dismissal of the Petition without costs to any party and the dismissal order has been sent for filing with the Supreme Court of British Columbia.  Full Article

Formation Metals Inc announces key appointments and changes to Board Of Directors
Thursday, 16 Jan 2014 07:30am EST 

Formation Metals Inc:Says the Board of Directors has reached an agreement, effective Jan. 15, with Mari-Ann Green, Scott Bending and William G. (Bill) Scales whereby these executives will relinquish their positions as CEO, President, and Executive Vice President, respectively and resign from the Board of Directors.Says Paul Farquharson, previously CFO, has been appointed Interim President and CEO.Says Marc Tran is appointed as CFO.Says Green and Messrs. Bending and Scales have agreed to provide consulting services to assist the Company during this transitional phase.  Full Article

Formation Metals Inc Secures Proceeds of USD12 Million From Sale Of Refinery
Friday, 11 Oct 2013 12:30am EDT 

Formation Metals Inc announced that it has completed the sale of all of the shares of its indirect wholly-owned subsidiary Formation Metals, U.S. (FMUS), whose primary asset is the Sunshine Precious Metals Refinery (the refinery), to Silver Opportunity Partners LLC, a wholly owned subsidiary of Sunshine Silver Mines, (SSM) for USD12 million cash as per the Company's news release dated September 16, 2013.  Full Article

Formation Metals Inc Sells Refinery For USD12 Million
Monday, 16 Sep 2013 10:40am EDT 

Formation Metals Inc announced that it has entered into a share purchase agreement, to sell all of the shares of its indirect wholly-owned subsidiary Formation Metals, U.S., whose primary asset is the Sunshine Precious Metals Refinery, to Silver Opportunity Partners LLC, a wholly owned subsidiary of Sunshine Silver Mines, for USD12 million. The Sale is expected to conclude on or before October 10, 2013. A USD500,000 deposit has been placed in escrow by SSM and is non-refundable in the event that SSM breaches the contract and causes the Sale not to conclude.  Full Article

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