Kootenay Silver (TSXV: KTN) announced this morning the completion of its spin-out transaction to its shareholders. The transaction was made through a statutory plan of arrangement with its subsidiary, Kootenay Resources Inc.
The transaction will see the company spin out 80% of its interest in mineral exploration assets located in Canada to its shareholders. Per the agreement, Kootenay Silver shareholders on record as of October 28, 2021, will receive one new common share of Kootenay Silver and 0.04 common shares of Kootenay Resources.
The firm also advised shareholders who are physically holding shares to complete their letter of transmittal.
Kootenay Silver last traded at $0.245 on the TSX Venture.
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