Riverside Completes Spin-Out of Capitan Mining

Riverside Resources (TSXV: RRI) has completed the spin out of shares of Capitan Mining (TSXV: CAPT) as of this morning. The spin out saw 100% of the interest in the Peñoles gold-silver project placed into a new public vehicle, which expects to list on the TSX Venture by the end of the month.

Under the terms of the plan of arrangement, Riverside Resources saw its common shares delisted from the TSX Venture, with each shareholder receiving one new common share of Riverside and 0.2594 of a Capitan share for each old share held of Riverside. The new Riverside shares are listed on the TSX Venture under the same symbol, and commence trading this morning.

Capitan has received conditional approval to list its shares on the TSX Venture under the symbol “CAPT”. The firm is currently undergoing a financing at a price of $0.20 per share, for which it has raised $3.5 million currently. The financing is expected to close by August 21, with the company expected to commence trading shortly thereafter.

"We are delighted to work closely together with Alberto Orozco and the highly experienced Mexico-based technical team on the Peñoles Mining District and the launching of this new spin-out company, Capitan Mining. Riverside drilled some of the first discovery holes and are very excited for Alberto and the Capitan team to move it forward. This is a great step for our collective stakeholders to share in the asset value of future exploration and advancement at the Peñoles Project."

Riverside Resources last traded at $0.39 on the TSX Venture.


FULL DISCLOSURE: Riverside Resources is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Riverside Resources on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Monterey Minerals Mobilizes Field Crew At Alicia Project, Philippines

Monterey Minerals (CSE: MREY) this morning announced that it has mobilized its exploration field crew...

Wednesday, August 26, 2020, 08:28:55 AM

Kinross Gold: Analysts Drop Targets Following Mill Fire

On June 21st, Kinross Gold Corporation (TSX: K) announced an update on the Tasiast Mill...

Thursday, June 24, 2021, 10:54:00 AM

Scotiabank Shutters Gold Business, Makes A Good Case For Owning Physical Gold

As the price of gold continued its run at all-time highs, fueled by overheated printing...

Thursday, May 14, 2020, 01:40:21 PM

Premier Gold: Revised Mercedes Operations Generates Positive Cash Flow

A quick update was released this morning by Premier Gold Mines (TSX: PG) in relation...

Thursday, August 20, 2020, 08:21:38 AM

The Most Exciting Gold Story Today! 183M oz Gold, 900M oz Silver! with Rudi Fronk of Seabridge Gold

In this interview, Rudi Fronk, CEO of Seabridge Gold (TSX: SEA, NYSE: SA), provides a...

Saturday, October 19, 2024, 10:00:00 AM