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Lode Gold Receives TSXV Conditional Acceptance for Spinout Transaction and Sets a Shareholder Meeting Date to Approve Plan of Arrangement (Each Shareholder Will Receive Shares of Spin Co Gold Orogen)
Toronto, Ontario--(Newsfile Corp. - December 5, 2024) - Lode Gold Resources Inc. (TSXV: LOD) (OT...
About this update from Lode Gold Resources Inc
[{"type":"text","content":"\nLode Gold Receives TSXV Conditional Acceptance for Spinout Transaction and Sets a Shareholder Meeting Date to Approve Plan of Arrangement (Each Shareholder Will Receive Shares of Spin Co Gold Orogen)Toronto, Ontario--(Newsfile Corp. - December 5, 2024) - Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: SBMIF) (\"Lode Gold \" or the \"Company\") is pleased to announce that it has received conditional acceptance from the TSXV for the spinout transaction. The record date is set for January 20, 2025. An information circular will be mailed to Shareholders on or before January 24, 2025, calling for a meeting on March 10, 2025, to approve the plan of arrangement for a tax-efficient spinout. On the completion of the transaction and following final court approval, Lode Gold shareholders will receive shares of Gold Orogen.Upon completion of the spin-off, the Company will be structured as follows: Gold Orogen (Spin Co.)Gold Orogen is an exploration pure play with two choice assets. Both assets are located in highly prospective areas and each can potentially be a company maker and a standalone asset.Asset 1:99.5 km2 of claims in Yukon's prolific Tombstone Gold Belt (Snowline's Valley deposit, Seabridge's 3 Aces project, Stika Gold's RC deposit)Total of four Reduced Intrusive Targets (RIRGS similar to Snowline)Confirmed on WIN:- signature host rocks, hornfels and reduced intrusives- high bismuth to gold ratio, gold-bearing sheeted quartz veinsAsset 2:New Brunswick: created one of the largest land packages at 420 km2Geological analogue to New Found Gold, Galway, Calibre Mining and PumaConfirmed gold endowment confirmed by initial drillingAcadian Gold JV formed and project-funded, captures the majority of the geological formation that hosts the Puma mineralization Lode Gold (Parent): High Grade Underground Mine Potential (previously mined at 8gpt)The Fremont Gold project is located on the Mother Lode Belt Lode Gold on patented private land in Mariposa County. Lode Gold is the first owner since mining suspension in 1942, to evaluate the project as an underground opportunity.On 190 km mineralized Mother Lode Belt: 50,000,000 oz producedFremont: 4km strike on the Mother Lode BeltPrivate patented land: 3,351 acres, 100% owned in Mariposa County (five Supervisors oversee County*) *County: 17,000 and Town: 2000 peopleCalifornia: 700 permitted mines; 1...