Core Viewpoint - Great Pacific Gold Corp. has announced a spin-out transaction to distribute shares of a new company, Walhalla Gold Corp., which will own the Walhalla Gold Project in Victoria, Australia, to its shareholders [1][4]. Transaction Details - The spin-out will allow each shareholder of Great Pacific to receive one share of Walhalla for every share they hold in Great Pacific [6][14]. - Great Pacific will receive a one-time cash payment of $1.5 million from 1537559 B.C. Ltd. (Finco) as part of the transaction [3][14]. - Walhalla will retain a 2% Net Smelter Royalty (NSR) on the Walhalla Gold Project [6][14]. Walhalla Gold Project Overview - The Walhalla Gold Project spans over 1,400 square kilometers in Victoria and has a history of gold production totaling 1,510,309 ounces at a grade of 33.59 g/t gold [6][7]. - The project includes a high-priority greenfield target called Pinnacles, which features a 400m x 1,100m gold mineralized aplitic dyke ready for immediate drilling [5][6]. Historical Production and Exploration - The Walhalla Gold Project has a prolific history with significant past production and multiple areas with historic mines, many of which have not undergone modern exploration [7]. - Notable historic production includes Cohen's Reef and Longfellows Reef, with significant grades reported from previous drilling [7][8]. Future Plans and Structure - A proposed management team and board of directors for Walhalla will be announced, and Finco will issue a total of 10 million common shares to the new management team as part of the spin-out [10][12]. - The capital structure of Walhalla will include the issued shares of Great Pacific and Finco after the completion of the spin-out [11][12].