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Avidian Announces Distribution to Shareholders of Shares of High Tide Resources Corp.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR ...
About this update from Avidian Gold Corp.
[{"type":"text","content":"Avidian Announces Distribution to Shareholders of Shares of High Tide Resources Corp.NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATESTORONTO, ON / ACCESSWIRE / February 9, 2022 / Avidian Gold Corp. (\"Avidian\" or the \"Company\") (TSXV:AVG)(OTCQB:AVGDF) is pleased to announce that in connection with its majority owned subsidiary, High Tide Resources Corp. (\"High Tide\"), intention to list its common shares on the Canadian Securities Exchange (the \"Listing\"), the Company is declaring a special distribution (the \"Distribution\") of approximately 9,360,852 High Tide common shares (the \"High Tide Shares\"). The Distribution is payable on a pro rata basis on or before February 22, 2022 (the \"Payment Date\") to holders of record of Avidian common shares at the close of business on February 17, 2022 (the \"Record Date\"). The Company also announces that Steve Roebuck has been elected as a director of the Company at the Company's annual and special meeting of shareholders held on February 7, 2022. Mr. Roebuck replaces David Anderson, who did not stand for re-election due to other commitments, but remains an advisor to the Company.\"We are very pleased to announce the partial spin-off of High Tide, which we believe will allow shareholders of Avidian to directly benefit from the exploration and development potential of the Labrador West Iron Project,\" said Steve Roebuck, President, CEO and Director of Avidian. \"We believe that, as a result of the spin off, High Tide will be well-positioned to continue to establish its profile in the mining exploration community.\"High Tide was established as a subsidiary of the Company in October 2018, and the Company subsequently acquired High Tide Shares by way of private placement offerings. The Company believes that the Distribution is in the best interests of shareholders by facilitating a return of capital to the Company's shareholders, without having any impact on the day-to-day operations of the Company.The Company currently holds an aggregate of 31,202,842 High Tide common shares. The High Tide Shares the Company will be distributing represents approximately 30% of the total number of High Tide Shares the Company holds. After the Distribution is issued and t...