RE:SPINOUT QUESTIONByhi wrote: Does this come out for tax purposes only when sold or wright away
BYHI
from an earlier post of mine
I was reading the information cirrcular for the spin off of Goldstorm shares and thought so of you may be interested to know.
The adjusted cost base (ACB) for new Tudor Shares is equal to the ACB for the old Tudor Shares.
The ajusted cost base (ACB) for new Goldstorm shares is equal to fair market value when they begin to trade (i.e. starting price per share).
Also, Goldstorm is planing a private placement to raise 3,900,000 as soon as spin off is complete. Each Goldstorm share will be approximately 0.26 per share.
Phase 1 exploration on crown property will get $437,000
Phase 1 drilling $600,000
Administrative costs for Goldstorm for 1 year $840,000
Unallocated working capital $2,023,000
this equals the $3,900,000 raised
NOTE: they apparently have an arrangement for 4 million pp for new company.
Wonder if any of those people are helping out with the current pp
jump