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Lode Gold Shareholders Approve Plan of Arrangement for Spin Out of Gold Orogen
Toronto, Ontario--(Newsfile Corp. - March 11, 2025) - Lode Gold Resources Inc. (TSXV: LOD) (OTCQ...
About this update from Lode Gold Resources Inc
[{"type":"text","content":"Lode Gold Shareholders Approve Plan of Arrangement for Spin Out of Gold OrogenToronto, Ontario--(Newsfile Corp. - March 11, 2025) - Lode Gold Resources Inc. (TSXV: LOD) (OTCQB: LODFF) (\"Lode Gold\" or the \"Company\") is pleased to announce that the proposed plan of arrangement (the \"Arrangement\") for the tax-efficient spin out of Gold Orogen was approved at the Company's annual general and special meeting of shareholders (the \"Meeting\") held on March 10, 2025. The resolution approving the Arrangement (the \"Arrangement Resolution\") was required to be passed by: (i) the affirmative vote of at least two-thirds (66 2/3%) of the votes cast by shareholders of the Company present in person or represented by proxy and entitled to vote at the Meeting; and (ii) the affirmative vote of at least two-thirds (66 2/3%) of the votes cast by Company shareholders, optionholders and warrantholders, voting as a single class, present in person or represented by proxy and entitled to vote at the Meeting. The hearing of application for the final order in respect of the Arrangement is scheduled for March 14, 2025. Closing of the Arrangement remains subject to, among other things, receipt of approval from the TSX Venture Exchange, the Canadian Securities Exchange and Great Republic Mining (\"GRM\") shareholder approval. Upon closing of the Arrangement, Lode Gold shareholders will receive one new Lode Gold share and 0.5739 of a common share of the resulting issuer (\"Gold Orogen\") for each Lode Gold share held prior to the completion of the Arrangement. Upon completion of the spin-off, the companies will be structured as follows:Gold Orogen (Spin Co. - Yukon and New Brunswick)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- Yukon:27 km strike, 99.5 km2 in Yukon on the prolific Tombstone Belt (Snowline and Sitka)A total of four Reduced Intrusive Targets (RIRGS similar to Snowline)Confirmed on WIN: Signature host rocks, hornfels and reduced intrusivesAsset 2 - New Brunswick:One of the largest land packages in the province at 445 km2Similar geological setting to New Found Gold, Galway, Calibre Mining-Equinox Gold and Puma-KinrossConfirmed gold endowment - mineralized rhyolites (same geology as Puma-Kinross)L...