Business
KORE Mining Provides Update on Spin Out of Karus Gold Creating BC Focused Gold Explorer
KORE Mining Provides Update on Spin Out of Karus Gold Creating BC Focused Gold Explorer ...
About this update from Kore Mining Ltd.
[{"type":"text","content":"\n \n \n \n KORE Mining Provides Update on Spin Out of Karus Gold Creating BC Focused Gold Explorer\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.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Strategic Position in BC's Cariboo Gold District with Flagship FG Gold Project\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Jan. 5, 2021\n \n /CNW/ - KORE Mining Ltd. (TSXV: KORE | OTCQX: KOREF) (\"\n \n KORE\n \n \" or the \"\n \n Company\n \n \") is pleased to provide an update on the proposed transfer of all of its\n \n British Columbia\n \n (\"\n \n BC\n \n \") gold exploration assets (\"\n \n Spin Out\n \n \") into a newly incorporated company called Karus Gold Corp. (\"\n \n Karus\n \n \" or \"\n \n \n Karus Gold\n \n \n \").\n \n \n \n \n \n \n \n \n \n \n Updates and Next Steps:\n \n \n \n \n Spin Out requires approval at the virtual KORE shareholder meeting on\n \n January 20, 2021\n \n \n \n \n Meeting materials filed and mailed in late\n \n December 2020\n \n \n \n Shareholders encouraged to vote as soon as possible and no later than\n \n January 18, 2021\n \n via the instructions in the materials\n \n \n Shareholders may attend the meeting online and will be required to register via the instructions in the materials in advance if they wish to vote online\n \n \n Management and the Board of KORE recommends voting in favour of the Spin Out\n \n \n Spin Out is supported by Mr.\n \n Eric Sprott\n \n , KORE's largest shareholder\n \n \n \n If the Spin Out is approved and final court approval is obtained, KORE shareholders at the distribution date will be eligible to receive Karus shares\n \n \n \n Distribution date expected to be\n \n January 22, 2021\n \n , subject to change\n \n \n Karus shares will not be publicly listed to trade immediately after Spin Out; listing anticipated in the first half of 2021\n \n \n \n Upon completion of the Spin Out, Karus intends to raise capital via a rights offering (\"\n \n Rights Offering\n \n \") to all Karus shareholders\n \n \n \n Rights Offering expected to commence i...