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CanAlaska Proposes to Spinout Five Nickel Properties
Vancouver, British Columbia--(Newsfile Corp. - June 12, 2023) - CanAlaska Uranium Ltd. (TSXV: ...
About this update from Canalaska Uranium Ltd
[{"type":"text","content":"CanAlaska Proposes to Spinout Five Nickel PropertiesVancouver, British Columbia--(Newsfile Corp. - June 12, 2023) - CanAlaska Uranium Ltd. (TSXV: CVV) (OTCQX: CVVUF) (FSE: DH7N) (\"CanAlaska or the \"Company\") announces that it intends to spinout five of its nickel properties: Halfway Lake, Resting Lake, Hunter, Odei River and its recently acquired Mel nickel deposit lease and claims (the \"Nickel Properties\"). It is expected that the spinout of the Nickel Properties would be effected through a statutory plan of arrangement (the \"Arrangement\") pursuant to which CanAlaska would transfer the Nickel Properties to a wholly-owned subsidiary, Core Nickel Corp. (\"Core Nickel\"), in consideration for common shares of Core Nickel. The Core Nickel shares would then be distributed to CanAlaska's shareholders pro rata their interest in CanAlaska resulting in CanAlaska's shareholders owning shares in two public companies upon completion of the Arrangement.The intent of the transaction would be twofold: (1) to permit CanAlaska to continue to focus its efforts on its uranium and other properties; and (2) to position Core Nickel to operate as an independent company that would seek a separate public listing and focus on building and advancing the Nickel Properties. CanAlaska makes no assurance that a spinout will occur as it is subject to many conditions that include the assessment of legal and tax consequences, determining the specific details of the Arrangement, Core Nickel satisfying stock exchange listing requirements, receipt of shareholder approval, receipt of all regulatory and other required approvals, the availability of financing for Core Nickel and market conditions. The Company will provide further details when they become available. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the \"1933 Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.About CanAlaska UraniumCanAlaska Uranium Ltd. (TSXV: CVV) (OTC...