J2 Metals Inc. Announces Shareholder Approval for Spin-Out

Core Viewpoint - J2 Metals Inc. has received shareholder approval for a plan of arrangement with Twenty Mile Metals Inc., allowing for the distribution of Spinco shares to shareholders [1][3]. Group 1: Arrangement Details - The arrangement involves the distribution of 5,000,000 Spinco shares to shareholders based on their holdings of J2 common shares on a yet-to-be-determined record date [2]. - Following the arrangement, Spinco will no longer be a wholly owned subsidiary of J2 Metals [3]. - A total of 6,206,162 shares, representing 28.23% of the outstanding shares, were voted at the meeting, with 99.84% approval for the arrangement and the Spinco Incentive Plan [3]. Group 2: Next Steps and Conditions - The company plans to apply for a final order from the Supreme Court of British Columbia on December 10, 2025, to complete the arrangement [4]. - Completion of the arrangement is subject to several conditions, including court approval, acceptance by the TSX Venture Exchange, and a private placement by Spinco raising at least $500,000 [8]. Group 3: Company Background - J2 Metals Inc. is a mineral exploration company based in Vancouver, focusing on critical minerals and precious metals in Canada and the U.S. The company was previously known as Cranstown Capital Corp. and completed its qualifying transaction in March 2025 [6].