{"id":50653,"date":"2024-08-29T10:46:18","date_gmt":"2024-08-29T09:46:18","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=50653"},"modified":"2024-08-29T10:46:18","modified_gmt":"2024-08-29T09:46:18","slug":"zeus-north-america-mining-corp-announces-chlore-property-spin-out","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/zeus-north-america-mining-corp-announces-chlore-property-spin-out\/50653\/","title":{"rendered":"Zeus North America Mining Corp. announces spin-out of Chlore property"},"content":{"rendered":"

Zeus North America Mining Corp.<\/a> has unveiled its Plan of Arrangement to spin out its Chlore Property, located in the Omineca Mining Division of North-Central British Columbia<\/a>, to its subsidiary Kelso Mining Inc.<\/h2>\n

This strategic move for the Chlore property is aimed at streamlining the company’s operations and allowing for more focused exploration and development efforts.<\/p>\n

Under the terms of the Arrangement, Zeus shareholders will receive one share of Kelso for every 150 shares of Zeus owned as of the Share Distribution Record Date.<\/p>\n

The specific record date will be determined by Zeus’s Board of Directors and announced in a future news release.<\/p>\n

Holders of Zeus options and warrants who exercise their rights before the Share Distribution Record Date will also receive one share of Kelso for every 150 shares of Zeus.<\/p>\n

This ensures that both current shareholders and those exercising their options or warrants can benefit from the Chlore property spin-out.<\/p>\n

New focus for Zeus and Kelso<\/h3>\n

Following the completion of the Arrangement, Zeus shareholders will hold shares in two public companies.<\/p>\n

Zeus will concentrate on its properties in Idaho<\/a>, including Cuddy Mountain, Selway, and Great Western, while Kelso will focus on the development of the Chlore Property in British Columbia.<\/p>\n

Conditions for completion<\/h3>\n

The Arrangement is contingent upon several key approvals:<\/p>\n

    \n
  • Approval by Zeus shareholders via a special resolution at a forthcoming special meeting.<\/li>\n
  • Approval from the Supreme Court of British Columbia.<\/li>\n
  • Acceptance of the Arrangement by the Canadian Securities Exchange.<\/li>\n<\/ul>\n

    All conditions must be met before the Arrangement can be finalised. The full details of the Arrangement will be available on the SEDAR website under the company’s profile.<\/p>\n

    Zeus will provide additional information in an upcoming information circular to be mailed to shareholders ahead of the special meeting.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Zeus North America Mining Corp. has unveiled its Plan of Arrangement to spin out its Chlore Property. Find out more.<\/p>\n","protected":false},"author":15,"featured_media":50654,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[23535],"tags":[24532,24590],"acf":[],"yoast_head":"\nZeus North America Mining Corp. announces Chlore property spin-out<\/title>\n<meta name=\"description\" content=\"Zeus North America Mining Corp. has unveiled its Plan of Arrangement to spin out its Chlore Property. 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