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Linear Minerals Announces Spin Out of the Pontax West Lithium Property to Subsidiary by Plan of Arrangement
VANCOUVER, BC / ACCESS Newswire / August 1, 2025 / Linear Minerals Corp. ("Linear" or the "Company") (CSE:LINE) (OTCQB:LINMF) (WKN:A2J C89)) (the "Company") ann
About this update from Linear Minerals Corp.
[{"type":"text","content":" VANCOUVER, BC / ACCESS Newswire / August 1, 2025 / Linear Minerals Corp. (\"Linear\" or the \"Company\") (CSE:LINE) (OTCQB:LINMF) (WKN:A2J C89)) (the \"Company\") announces the Plan of Arrangement Agreement dated for reference August 1, 2025 (the \"Arrangement\") to spin out its Pontax West Lithium Property located in the Province of Quebec to the Company's subsidiary Westlinear Minerals Corp. (\"Spinco\"). Under the terms of the Arrangement, the Company's shareholders will be issued one share of Spinco with respect to every 10 shares of the Company owned 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 the Company options and warrants, who exercise their options and/or warrants before the Share Distribution Record Date, will also be entitled to receive one share of Spinco with respect to every 10 shares of the Company. The Pontax West Lithium Property will be transferred to Spinco. Upon completion of the Arrangement, the Company shareholders will ultimately own shares in two public companies: the Company, which will be focused on other properties and Spinco, which will focus on the Pontax West Lithium Property. Completion of the Arrangement is subject to a number of conditions, including the following: the approval by the shareholders of the Company by a special resolution at a special meeting (the \"Meeting\"); the approval of the Supreme Court of British Columbia; and the acceptance of the Arrangement by the Canadian Securities Exchange. The Arrangement cannot be completed until all the above conditions are met. A copy of the Arrangement will be posted on www.sedarplus.ca under the profile of the Company. Additional details regarding the Arrangement will be included in the information circular of the Company, which will be mailed to the shareholders of the Company prior to the Meeting. On behalf of the board of directors.\"Gurminder Sangha\"CEO, Director For further information, please contact the Company at: [email protected] Forward Looking Statements When used in this news release, the words \"estimate\", \"project\", \"belief\", \"anticipate\", \"intend\", \"expect\", \"plan\", \"predict\", \"may\" or \"should\" and the negative of these words or such variations thereon ...