Tudor Gold Corp. (TSXV: TUD) and Goldstorm Metals Corp. (TSXV: GSTM) have successfully closed their previously announced spin-out arrangement, by way of a court-approved statutory plan of arrangement under the Business Corporations Act (British Columbia).
In accordance with the arrangement, among other things:
Tudor Gold shareholders on record as of November 10, 2022, received approximately 0.251 of a common share of Goldstorm for every one common share of Tudor Gold held; and
Goldstorm acquired the Crown Property, consisting of six contiguous mineral properties located in the Golden Triangle Area in northwestern British Columbia in consideration for Goldstorm issuing 49,847,967 Goldstorm Shares to the Tudor Gold shareholders.
As a result of the Arrangement, Goldstorm ceased to be a wholly-owned subsidiary of Tudor Gold, and shareholders of Tudor Gold became shareholders of Goldstorm.
Additionally, the Goldstorm Shares were listed on the TSX Venture Exchange under ticker symbol “GSTM” as at the close of business on November 10, 2022. The Goldstorm Shares have been halted and are expected to resume trading on or about November 11, 2022, subject to final TSXV approval.
Tudor Gold retains its remaining assets and working capital and will continue as a precious and base metals exploration and development company.
About Tudor Gold
Tudor Gold Corp. (TSXV: TUD) is a precious and base metals exploration and development company with properties in British Columbia’s Golden Triangle (Canada), an area that hosts producing and past-producing mines and several large deposits that are approaching potential development. The 17,913 hectare Treaty Creek project (in which Tudor Gold has a 60% interest) borders Seabridge Gold Inc.’s KSM property to the southwest and borders Pretium Resources Inc.’s Brucejack property to the southeast.
In April 2021, Tudor Gold published their 43-101 technical report, “Technical Report and Initial Mineral Resource Estimate of the Treaty Creek Gold Property, Skeena Mining Division, British Columbia Canada” dated March 1, 2021, on Tudor Gold’s SEDAR profile.
About Goldstorm
Goldstorm Metals Corp. (TSXV: GSTM) is a new precious and base metals exploration company with a large strategic land position in the Golden Triangle of British Columbia, an area that hosts some of the largest and highest-grade gold deposits in the world. Goldstorm’s flagship Crown Project covers approximately a total of 16,469 hectares; situated directly south of Seabridge Gold’s world-class KSM gold-copper deposits and Newcrest Gold’s Brucejack/Valley of the Kings gold mine.
For further information please visit: https://tudor-gold.com/
