Sassy Resources (CSE: SASY) this morning indicated that it intends to dividend out a portion of its Gander Gold Corp shares to its shareholders this morning. The dividend is being conducted as a means of settling debt outstanding between Gander and Sassy.
Approximately 8.83 million common shares are to be issued in a dividend by Sassy, with shareholders to receive one share of Gander Gold for every 5.3816 shares of Sassy held as of February 1, 2022, or in other terms, 0.1858 shares of Gander for every share of Sassy held.
The dividend is being conducted in connection with Sassy entering the final phases of seeing Gander Gold spun out and listed as a standalone entity on the Canadian Securities Exchange. Post closing, Gander will have 71.4 million shares outstanding, of which Sassy will own 35.3 million, or 49.5%, while Eric Sprott will own 10.7 million shares, or 15% of the company as a whole.
Gander Gold currently holds over 2,257 square kilometres of grassroots properties in Newfoundland across eight separate projects, representing one of the bigger land packages in the province.
Sassy Resources last traded at $0.41 on the CSE.
Information for this briefing was found via Sedar and Sassy Resources. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
