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J2 Metals Inc. Announces Spin Out of the Twenty Mile Property to Subsidiary by Plan of Arrangement
Vancouver, British Columbia--(Newsfile Corp. - October 27, 2025) - J2 Metals Inc. (TSXV: JTWO) ("...
About this update from J2 Metals Incorporation
[{"type":"text","content":"J2 Metals Inc. Announces Spin Out of the Twenty Mile Property to Subsidiary by Plan of ArrangementVancouver, British Columbia--(Newsfile Corp. - October 27, 2025) - J2 Metals Inc. (TSXV: JTWO) (\"J2\" or the \"Company\") is pleased to announce that the Company has entered into an arrangement agreement (the \"Arrangement Agreement\") with J2's subsidiary, 1558117 B.C. Ltd. (\"Spinco\") pursuant to which the Company proposes to spin out its Twenty Mile Project, located in British Columbia's prolific Quesnel Trough Porphyry Belt (the \"Spin-Out\").The Spin-Out will provide investors with an ownership stake in two (2) separate specialized companies. J2 will continue to focus on the advancement of its Napoleon and Miniac properties, while Spinco will focus on advancing the Twenty Mile Project. The Spin-Out will proceed by way of a statutory plan of arrangement (the \"Arrangement\") in accordance with the provisions of the Business Corporations Act (British Columbia), whereby 5,000,000 Spinco Shares, being all of the issued and outstanding common shares of Spinco (the \"Spinco Shares\") will be distributed to the Company's shareholders, other than dissenting shareholders, in proportion to their respective holdings of common shares of the Company on the share distribution record date (the \"Share Distribution Record Date\"), which will be determined by the Company's Board of Directors and announced by a news release in advance. Holders of J2 options and warrants, who exercise their options and/or warrants before the Share Distribution Record Date, will also be entitled to participate in the distribution of the Spinco Shares and the outstanding J2 warrants will be adjusted in accordance with their terms to be exercisable into their pro rata entitlement to the Spinco Shares. No fractional Spinco Shares will be distributed under the Arrangement. Any fractions of Spinco Shares resulting from the Arrangement will be rounded down to the nearest whole number without any compensation in lieu of such fraction. The Twenty Mile Project was previously transferred to Spinco as part of an overall corporate structure re-organization in contemplation of the Spin-Out. It is expected that Spinco will change its name to \"Twenty Mile Metals Inc.\" at such time as the B.C. Registries office re-opens following labour action in British Columbia.Upon complet...