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Kootenay Silver Announces Spin-Out of Canadian Assets
Kootenay Silver Announces Spin-Out of Canadian Assets Canada NewsWire ...
About this update from Kootenay Silver Inc.
[{"type":"text","content":"\n \n \n \n Kootenay Silver Announces Spin-Out of Canadian Assets\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Aug. 20, 2021\n \n /CNW/ - Kootenay Silver Inc. (\"\n \n Kootenay\n \n \" or the \"\n \n Company\n \n \") (TSXV: KTN), is pleased to announce that its board of directors has unanimously approved a spin-out of 80% of the Company's Canadian exploration assets (the \"\n \n Canadian Assets\n \n \"), to its shareholders by way of a share capital reorganization effected through a statutory plan of arrangement (the \"\n \n Arrangement\n \n \"). The Canadian Assets are held through Kootenay's wholly-owned subsidiary, Kootenay Resources Inc. (\"\n \n Spinco\n \n \"). Under the Arrangement, Kootenay will distribute 80% of the common shares (each, a \"\n \n Spinco Share\n \n \") of Spinco to Kootenay's shareholders. Once the Arrangement becomes effective, which will be triggered by the board of Kootenay, Kootenay shareholders will ultimately own shares in two public companies: Spinco, which will focus on the development of the Canadian Assets, and Kootenay, which will continue with the exploration and development of its Mexican assets.\n \n \n \n \n \n \n \n \n \n \n \n James McDonald\n \n , Kootenay's President and CEO\n \n stated, \"\n \n We believe the spin-out of the Canadian Assets will be very beneficial to shareholders. Among other benefits, it will unlock the value of the Canadian Assets by allowing it to be developed separately, by a skilled and experienced management team, and it will allow our shareholders to own shares in two companies\n \n .\"\n \n \n Under the Arrangement, Kootenay's current shareholders will receive Spinco Shares by way of a share exchange, pursuant to which each existing common share of Kootenay will be exchanged for one new common share of Kootenay (each, a \"\n \n New Kootenay Share\n \n \") and...