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Mustang Energy Corp. Provides Update on Proposed Spin Out of Ford Lake Property by way of Plan of Arrangement and Announces Share Distribution Record date of March 26, 2026
Globenewswire· 2026-03-21 03:04
Core Viewpoint - Mustang Energy Corp. is proceeding with a plan of arrangement to spin out its properties into a wholly-owned subsidiary, Allied Strategic Resource Corp., with the arrangement expected to be effective on March 27, 2026 [1][3]. Group 1: Arrangement Details - The arrangement involves transferring Mustang's rights to its Ford Lake property and other properties in exchange for 6,400,000 common shares in Allied at a deemed price of $0.05 per share [3]. - Shareholders will receive one New Mustang Share and a number of Allied Spinout Shares based on a distribution fraction calculated from the total number of Allied Spinout Shares divided by the number of Mustang shares outstanding [3]. - The arrangement has received approval from shareholders and the British Columbia Supreme Court [2]. Group 2: Company Focus and Properties - Following the arrangement, Allied will become a separate unlisted reporting issuer and will own the SpinCo Properties, with the Ford Lake Property being its material property [4]. - Mustang will focus on developing its Brown Lake, Dutton, Yellowstone, 914W, Spur, Thunderbird, and Konigsstuhl projects, with a strategic emphasis on the Yellowstone property [4][6]. Group 3: Management and Listing - The directors of Allied include Nicholas Luksha, Constantine Carmichel, and Teresa Rzepczyk, with Nicholas Luksha serving as CEO [5]. - Allied is in the process of applying for a listing on the Canadian Securities Exchange and has received conditional approval [5].
Orecap Announces Arrangement Agreement and Interim Order
Newsfile· 2025-08-06 10:00
Core Viewpoint - Orecap Invest Corp. has entered into an arrangement agreement to spin out three wholly-owned subsidiaries, allowing for independent exploration and property acquisition opportunities for the company and its subsidiaries [1][3]. Group 1: Arrangement Details - The arrangement agreement was effective on July 28, 2025, and involves the spinout of subsidiaries 1540529 B.C. Ltd., 1540538 B.C. Ltd., and 1540542 B.C. Ltd. to existing shareholders [1]. - Each Orecap shareholder will retain their common shares and receive a pro rata number of common shares in each of the new subsidiaries, subject to the specified exchange ratio [2]. - The arrangement is expected to close in September 2025, pending approval from at least two-thirds of Orecap shareholders and the Supreme Court of British Columbia [4]. Group 2: Meeting and Approvals - A meeting for Orecap shareholders is scheduled for September 17, 2025, to approve the arrangement and other annual general meeting matters [5]. - The board of directors has unanimously approved the arrangement, deeming it in the best interests of the company and its shareholders [6]. Group 3: Company Overview - Orecap Invest Corp. focuses on special situation investments in the natural resource sector, providing exposure to high-return opportunities in precious and critical metals [7]. - The company holds significant equity positions in various companies, including Mistango River Resources, XXIX Metal Corp., American Eagle Gold, and Awalé Resources [7][8].