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HPQ Silicon Receives Beauce Gold Property 43-101 Report In Preparation For Spin Out And Dividend In Q1
(via TheNewswire) January 1 3 , 2017 / TheNewswire / Montreal, Quebec, Canada HPQ ...
About this update from Hpq Silicon Inc
[{"type":"text","content":"HPQ Silicon Receives Beauce Gold Property 43-101 Report In Preparation For Spin Out And Dividend In Q1(via TheNewswire)\n \n \nJanuary 13, 2017 / TheNewswire / Montreal, Quebec, Canada HPQ Silicon Resources Inc (\"HPQ\") (TSX Venture: HPQ) is pleased to update shareholders regarding the status of its gold asset spinoff, as well as, announcing it has received the required 43-101 Technical report for the Beauce Gold property, a prerequisite of the listing documentation for the planned spin-out of the company's gold assets.\n\n\n \nUPDATE - SPIN OUT AND DIVIDEND OF BEAUCE GOLD FIELDS EXPECTED BY MARCH 31, 2017 \n\n\n \nOn March 11, 2016, the company announced its plans to spin out its gold projects and issue a dividend to shareholders. The purpose of the spinout is to segregate the company's valuable but diverse holdings to unlock even greater value for shareholders.\n\n\n \nThe Company will transfer all of its gold assets into a newly formed subsidiary called Beauce Gold Fields Inc./Les Champs d'Or de Beauce Inc., then dividend out 80% of the Capital of the subsidiary to its shareholders.\n\n\n \nIn order for the final transfer of Beauce from HPQ, the following steps have been taken: \n\n\n \n1. An independent board of directors of the subsidiary Beauce Gold Fields Inc./Les Champs d'Or de Beauce Inc is in the process of being named. The new Board will be able to approve gold property transactions between Beauce and HPQ.\n\n\n \n2. The Company has completed the required Listing Statement and prescribed documentation that will be submitted to the Canadian Securities Exchange (CSE) to be eligible for listing on the Exchange.\n\n\n \n3. The completion of a new 43-101 on Beauce for the purposes of designating it the Property Of Merit for the new company. \n\n\n \nHPQ-Silicon is aiming to have the spinoff completed and dividend shares of the new subsidiary delivered to shareholders during Q1 2017. \n\n\n \nBernard Tourillon, chairman and chief executive officer of HPQ Silicon stated: \"We are very excited that the spin-out is nearing completion. We have seen a resurgence in the values of high quality gold projects and, given the fact the Beauce Gold project holds the largest historical placer gold deposit in eastern North America, we believe an independently traded Beauce Gold Fields will unlock meaningful value for our shareholders. Mo...