Linear Minerals Corp. Announces Spin Out of the Pontax West Lithium Property to Subsidiary by Plan of Arrangement
Linear Minerals Corp. (OTCQB:LINMF) has announced a strategic Plan of Arrangement to spin out its Pontax West Lithium Property in Quebec to its subsidiary Westlinear Minerals Corp. Under the arrangement, shareholders will receive 1 share of Westlinear for every 10 shares of Linear owned on the share distribution record date.
The spinout will result in shareholders owning stakes in two separate public companies: Linear Minerals, which will focus on its other properties, and Westlinear Minerals, which will concentrate on the Pontax West Lithium Property. The arrangement requires shareholder approval, British Columbia Supreme Court approval, and Canadian Securities Exchange acceptance before completion.
Linear Minerals Corp. (OTCQB:LINMF) ha annunciato un piano strategico di riorganizzazione per scorporare la sua propriet脿 Pontax West Lithium in Quebec, trasferendola alla sua controllata Westlinear Minerals Corp. In base a questo accordo, gli azionisti riceveranno 1 azione di Westlinear per ogni 10 azioni di Linear possedute alla data di registrazione per la distribuzione delle azioni.
Lo scorporo porter脿 gli azionisti a detenere partecipazioni in due societ脿 pubbliche distinte: Linear Minerals, che si concentrer脿 sulle sue altre propriet脿, e Westlinear Minerals, che focalizzer脿 la sua attivit脿 sulla propriet脿 Pontax West Lithium. L鈥檃ccordo necessita di approvazione degli azionisti, del tribunale superiore della British Columbia e dell鈥檃ccettazione da parte della Canadian Securities Exchange prima di poter essere finalizzato.
Linear Minerals Corp. (OTCQB:LINMF) ha anunciado un plan estrat茅gico para escindir su propiedad Pontax West Lithium en Quebec a su subsidiaria Westlinear Minerals Corp. Seg煤n el acuerdo, los accionistas recibir谩n 1 acci贸n de Westlinear por cada 10 acciones de Linear que posean en la fecha de registro para la distribuci贸n de acciones.
La escisi贸n resultar谩 en que los accionistas posean participaciones en dos compa帽铆as p煤blicas separadas: Linear Minerals, que se enfocar谩 en sus otras propiedades, y Westlinear Minerals, que se centrar谩 en la propiedad Pontax West Lithium. El acuerdo requiere la aprobaci贸n de los accionistas, la aprobaci贸n de la Corte Suprema de Columbia Brit谩nica y la aceptaci贸n de la Canadian Securities Exchange antes de su finalizaci贸n.
Linear Minerals Corp. (OTCQB:LINMF)電� 韤橂病鞐� 鞙勳箻頃� Pontax West Lithium 甏戩偘 鞛愳偘鞚� 鞛愴殞靷澑 Westlinear Minerals Corp.搿� 攵勳偓頃橂姅 鞝勲灥鞝� 瓿勴殟鞚� 氚滍憸頄堨姷雼堧嫟. 鞚� 瓿勴殟鞐� 霐半澕 欤检＜霌れ潃 欤检嫕 氚绊彫 旮办鞚检棎 氤挫湢頃� Linear 欤检嫕 10欤茧嫻 Westlinear 欤检嫕 1欤�毳� 氚涥矊 霅╇媹雼�.
鞚措矆 攵勳偓電� 欤检＜霌れ澊 霊� 臧滌潣 氤勲弰 靸侅灔 須岇偓鞐� 歆�攵勳潉 氤挫湢頃橁矊 霅橂姅 瓴瓣臣毳� 雮踌姷雼堧嫟: Linear Minerals電� 雼るジ 鞛愳偘鞐� 歆戩頃橁碃, Westlinear Minerals電� Pontax West Lithium 鞛愳偘鞐� 歆戩頃橁矊 霅╇媹雼�. 鞚� 瓿勴殟鞚� 鞕勲 鞝勳棎 欤检＜ 鞀轨澑, 敫岆Μ韹办嫓旎熂牍勳晞 雽�氩曥洂 鞀轨澑, 旌愲倶雼� 歃濌秾瓯半灅靻� 鞀轨澑鞚� 頃勳殧頃╇媹雼�.
Linear Minerals Corp. (OTCQB:LINMF) a annonc茅 un plan strat茅gique d鈥檃rrangement visant 脿 scinder sa propri茅t茅 Pontax West Lithium au Qu茅bec vers sa filiale Westlinear Minerals Corp. Selon cet arrangement, les actionnaires recevront 1 action de Westlinear pour chaque tranche de 10 actions de Linear d茅tenues 脿 la date d鈥檈nregistrement pour la distribution des actions.
Cette scission permettra aux actionnaires de d茅tenir des parts dans deux soci茅t茅s publiques distinctes : Linear Minerals, qui se concentrera sur ses autres propri茅t茅s, et Westlinear Minerals, qui se focalisera sur la propri茅t茅 Pontax West Lithium. L鈥檃rrangement n茅cessite l鈥檃pprobation des actionnaires, l鈥檃pprobation de la Cour supr锚me de la Colombie-Britannique et l鈥檃cceptation de la Canadian Securities Exchange avant sa finalisation.
Linear Minerals Corp. (OTCQB:LINMF) hat einen strategischen Umstrukturierungsplan angek眉ndigt, um sein Pontax West Lithium Grundst眉ck in Quebec an seine Tochtergesellschaft Westlinear Minerals Corp. auszugliedern. Im Rahmen dieses Plans erhalten Aktion盲re 1 Aktie von Westlinear f眉r je 10 gehaltene Linear-Aktien am Stichtag der Aktienverteilung.
Die Ausgliederung f眉hrt dazu, dass die Aktion盲re Anteile an zwei getrennten b枚rsennotierten Unternehmen halten: Linear Minerals, das sich auf seine anderen Grundst眉cke konzentriert, und Westlinear Minerals, das sich auf das Pontax West Lithium Grundst眉ck fokussiert. Der Plan bedarf vor Abschluss der Zustimmung der Aktion盲re, der Genehmigung des Obersten Gerichts von British Columbia und der Akzeptanz der Canadian Securities Exchange.
- Creation of two focused public companies allowing for dedicated management and resources
- Shareholders maintain exposure to both companies through share distribution
- Option and warrant holders can participate if exercised before record date
- 10:1 distribution ratio means smaller position in the new lithium-focused company
- Multiple regulatory and shareholder approvals required before completion
- Additional administrative costs and complexity of managing two separate public entities
VANCOUVER, BC / / August 1, 2025 / Linear Minerals Corp. ("Linear" or the "Company") (CSE:LINE)(OTCQB:LINMF)(WKN:A2J C89)) (the "Company") announces the Plan of Arrangement Agreement dated for reference August 1, 2025 (the "Arrangement") to spin out its Pontax West Lithium Property located in the Province of Quebec to the Company's subsidiary Westlinear Minerals Corp. ("Spinco").
Under the terms of the Arrangement, the Company's shareholders will be issued one share of Spinco with respect to every 10 shares of the Company owned on the share distribution record date (the "Share Distribution Record Date"), which will be determined by the Company's Board of Directors and announced by a news release in advance.
Holders of the Company options and warrants, who exercise their options and/or warrants before the Share Distribution Record Date, will also be entitled to receive one share of Spinco with respect to every 10 shares of the Company. The Pontax West Lithium Property will be transferred to Spinco.
Upon completion of the Arrangement, the Company shareholders will ultimately own shares in two public companies: the Company, which will be focused on other properties and Spinco, which will focus on the Pontax West Lithium Property.
Completion of the Arrangement is subject to a number of conditions, including the following:
the approval by the shareholders of the Company by a special resolution at a special meeting (the "Meeting");
the approval of the Supreme Court of British Columbia; and
the acceptance of the Arrangement by the Canadian Securities Exchange.
The Arrangement cannot be completed until all the above conditions are met. A copy of the Arrangement will be posted on www.sedarplus.ca under the profile of the Company.
Additional details regarding the Arrangement will be included in the information circular of the Company, which will be mailed to the shareholders of the Company prior to the Meeting.
On behalf of the board of directors.
"Gurminder Sangha"
CEO, Director
For further information, please contact the Company at: [email protected]
Forward Looking Statements
When used in this news release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Company believes, in light of the experience of their respective officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in the forward-looking statements and information in this news release are reasonable, undue reliance should not be placed on them because the parties can give no assurance that such statements will prove to be correct. The forward-looking statements and information in this news release include, amongst others, the Company's plans regarding the Arrangement and exploration plans. Such statements and information reflect the current view of the Company. There are risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements or implied by such forward-looking statements. There are a number of important factors that could cause the Company's actual results to differ materially from those indicated or implied by forward-looking statements and information. Such factors include, among others: currency fluctuations; limited business history of the parties; disruptions or changes in the credit or security markets; results of operation activities and development of projects; project cost overruns or unanticipated costs; shareholder, court and regulatory approvals; and general development, market and industry conditions.
The Company undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of its securities or its financial or operating results (as applicable). The Company cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. The Company has assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, are subject to change after such date. The Company does not undertake to update this information at any particular time except as required in accordance with applicable laws.
SOURCE: Linear Minerals Corp.
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FAQ
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