Queenston Mining Inc. completes the amalgamation of Vault Minerals Inc. with 2236019 Ontario Inc.

Date Closed: 4/20/2010

Value: C$20.5 million

On April 20, 2010, Queenston Mining Inc. (Queenston) completed the amalgamation of Vault Minerals Inc. (Vault) with 2236019 Ontario Inc., a wholly-owned subsidiary of Queenston.  The newly amalgamated company will continue under the name Vault Minerals Inc. as a wholly-owned subsidiary of Queenston.  Under the terms of the amalgamation, Queenston issued approximately 4.1 million Queenston common shares to the former Vault shareholders, with Vault shareholders receiving one Queenston common share for every 10 common shares of Vault held. The transaction valued Vault at approximately $20,500,000. The amalgamation was conducted pursuant to a Combination Agreement entered into by Queenston and Vault on March 5, 2010 and was overwhelmingly approved by Vault's shareholders at a special meeting of shareholders held on April 19, 2010.

Queenston was represented by BLG with a team consisting of Dolores Di Felice, Paul Mingay and Krstin​a Skocic.