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NEVADA KING AND NV KING GOLDLANDS ANNOUNCE COMPLETION OF SPIN-OUT
NEVADA KING AND NV KING GOLDLANDS ANNOUNCE COMPLETION OF SPIN-OUT Canada NewsWire ...
About this update from Nevada King Gold Corp
[{"type":"text","content":"\n\n\n\n NEVADA KING AND NV KING GOLDLANDS ANNOUNCE COMPLETION OF SPIN-OUT\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 \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n VANCOUVER, BC\n \n\n ,\n \n\n Aug. 1, 2024\n \n\n /CNW/ -\n \n Nevada\n \n\n King Gold Corp.\n \n (TSXV: NKG) (OTCQX: NKGFF) (\"\n \n\n Nevada King\n \n\n \") and NV King Goldlands Inc. (\"\n \n NV Goldlands\n \n \") are pleased to announce that they have completed the previously announced strategic reorganization of their business pursuant to which all of\n \n Nevada King's\n \n concessions and properties with the exception of the Atlanta Gold Mine Project (\"\n \n\n Atlanta\n \n\n \") have been spun out to\n \n Nevada King\n \n shareholders (the \"\n \n Spin-Out\n \n \") through NV Goldlands.\n \n\n\n\n\n\n\n\n\n The Spin-Out was completed by way of a statutory plan of arrangement (the \"\n \n Arrangement\n \n \") pursuant to the\n \n Business Corporations Act\n \n (\n \n British Columbia\n \n ). Pursuant to the Arrangement, the holders of\n \n Nevada King\n \n common shares will receive: (i) one new\n \n Nevada King\n \n common share for each\n \n Nevada King\n \n common share they held immediately prior to the effective time of the Arrangement; and (ii) one-thirtieth of one NV Goldlands common share (each one a \"\n \n NV Goldlands Share\n \n \") for each\n \n Nevada King\n \n common share held immediately prior to the effective time of the Arrangement.\n \n\n The Spin-Out was completed as part of a strategic reorganization to unlock value in\n \n Nevada King's\n \n large portfolio of mineral claims in the\n \n State of Nevada\n \n . The target areas along the\n \n Battle Mountain\n \n trend now held by NV Goldlands include the Lewis, Horse Mountain-Mill Creek, and Iron Point projects. In connection with the Spin-Out,\n \n Nevada King\n \n also granted NV Goldlands a 3.0% net smelter return (\"\n \n NSR\n \n \") royalty on all gold and silver production from\n \n Atlanta\n \n including the\n \n Atlanta\n \n resource area and non-core claims surrounding the Atlanta Gold Mine Project. The 3.0% NSR royalty on the...