OTCQX:GTBAF - Post by User
Post by
daffidon Oct 24, 2019 7:13am
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Post# 30262994
News release, ,,nice!
News release, ,,nice! TSX-V: GBR
VANCOUVER, Oct. 24, 2019 /PRNewswire/ - Great Bear Resources Ltd. (the "Company" or "Great Bear", TSX-V: GBR) today reported its intention to create, and subsequently spin-out, a two percent Net Smelter Royalty ("NSR") on any potential future mineral production at the Dixie property. The NSR will initially be placed in a wholly-owned subsidiary ("SpinCo"). The intention is for the shares of SpinCo to be distributed to the shareholders of Great Bear at a time to be determined by the Board of Directors. It is expected that the distribution will be completed pursuant to a plan of arrangement (the "Arrangement"), under the Business Corporations Act (British Columbia).
Read more at https://stockhouse.com/news/press-releases/2019/10/24/great-bear-to-spin-out-net-smelter-royalty-to-shareholders#ttc3M5wcP4gKQDpc.99