Business
Disko Exploration Limited - Proposed Demerger
Disko Exploration Limited - Proposed Demerger.
About this update from 80 Mile Plc
[{"type":"text","content":"\n \n \n \n Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector: Mining\n \n \n \n \n \n \n \n \n \n 13 June 2022\n \n \n \n \n \n \n \n \n \n Bluejay Mining plc\n \n \n \n \n ('Bluejay' or the 'Company')\n \n \n \n \n \n \n \n \n \n Disko Exploration Limited - Proposed Demerger\n \n \n \n \n \n \n \n \n The Board of Bluejay Mining plc, the AIM, FSE-listed and OTCQB traded mining exploration and development company,\n is pleased to announce that it is undertaking a review into a demerger and potential separate stock market listing, on a London based stock exchange (the 'Listing') of its wholly owned subsidiary Disko Exploration Limited ('Disko').\n \n \n \n \n \n \n Highlights\n \n \n \n ·\n Disko currently holds the following interests:\n \n \n o \n Disko-Nuussuaq nickel-copper-cobalt-PGE project in Greenland which entered into a definitive joint venture agreement with KoBold Metals Company ('KoBold') to execute an extensive exploration program in 2022 for battery metals. (49%-owned by Disko)\n \n \n o \n Kangerluarsuk, a 100% owned lead-zinc-silver project in Greenland\n \n \n o \n Thunderstone, a 100% owned gold-base metals & REE project in Greenland\n \n \n ·\n A separate listing of Disko\n \n \n o \n will capitalise on the fast-growing sector demand for strategic battery metals, allowing for the concurrent development of both Disko and the 100%-owned Dundas Titanium A/S ilmenite project, along with the rest of the asset portfolio; and\n \n \n o \n turn Disko into a listed, 100% Greenland-focused development company.\n \n \n ·\n The demerger will provide greater development and funding flexibility for both Bluejay and Disko.\n \n \n ·\n The Company has engaged with advisers in relation to the Listing and the Listing is dependent on the outcome of the review, shareholder approval, as well as market conditions.\n \n \n ·\n If approved, Bluejay shareholders will receive new shares in Disko proportionate to their Bluejay shareholding via a distributed capital reduction, which, subject to High Court and HMRC approval, is expected to have no tax consequence for Bluejay shareholders.\n \n \n ·\n The record date for the distribution will occur after the shareholder meeting, should shareholder approval be obtained.\n \n \n ·\n In conjunction with the Listing, Disko will see...