NGEx Minerals (TSX: NGEX) has declared October 23, 2025 as the effective date for the spin out of certain royalties on their properties.
The arrangement is set to see net smelter returns royalties on both the Lunahuasi and Los Helados properties within the Vicuna district of Argentina and Chile. Lunahuasi will see a 1% NSR issued on the property, while a 2% NSR will be issued for the Los Helados project, of which 1.38% will be held by the royalty spinout, and 0.62% will be held by JX Advanced Metals Corp.
Under the terms of the spinout arrangement, shareholders of NGEx will receive 0.25 of a common share of LunR Royalties for each share of NGEx held. Upon closing, it is expected that NGEx will hold a 19.9% interest in LunR Royalties, with the remaining ownership distributed to shareholders.
LunR Royalties is expected to be led by Adam Lundin, who will serve as CEO, President, and Chair of the company, while Peter Hemstead has been appointed as CFO and Corporate Secretary. Trevor D’Sa has been named as Chief Investment Officer and Connor Mackay has been named as VP, Corporate Development and Investor Relations. LunR’s board meanwhile is set to consist of Wojtek Wodzicki, Adam Lundin, Martino De Ciccio, and Jamie Back.
LunR Royalties is expected to list on the TSX Venture at a later date.
NGEx Minerals last traded at $25.65 on the TSX.
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