RE:RE:Worthless to Worth less."SPINCO" lmao, thats for sure. They don't even own these properties, and certainly would make no money on them if they did, as Gelncore owns the royalties. How does the CSE or tsxv allow sh1t like this to continue? Worthless deal for "spinco".
Fuse Battery Metals Inc. has entered into an arrangement agreement with its wholly owned subsidiary, Ignition Battery Metals Inc. (SpinCo). In accordance with the terms of the Arrangement Agreement, Fuse will transfer to SpinCo ownership of its interests in its Teledyne and Glencore Bucke cobalt properties in Ontario, (collectively, the " Transferred Assets ") in exchange for approximately 9,397,440 common shares of SpinCo (the " Consideration Shares "). Fuse will spin out the Consideration Shares (the " Spin-Out Shares ") to Fuse shareholders. The Teledyne Cobalt Property located in Bucke and Lorrain Townships, consists of 5 patented mining claims totaling 79.1 ha, and 46 unpatented mining claim cells totaling approximately 700 ha. The Glencore Bucke Property consists of two patented mining claims totaling approximately 16.2 ha in area located on the west boundary of Fuse's Teledyne Cobalt Project