Origen Announces Proposed Arrangement to Spin Out Silver Dollar Property
The Arrangement Agreement, a copy of which will be available under Origen's profile on SEDAR, sets out the terms on which Origen will complete a plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia) with Forty Pillars whereby Origen's Silver Dollar Property (and Beatrice Property which is included within Silver Dollar but referenced separately in Origen's financial statements) and $66,893.60 will be spun out to Forty Pillars.
- The Arrangement Agreement, a copy of which will be available under Origen's profile on SEDAR, sets out the terms on which Origen will complete a plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia) with Forty Pillars whereby Origen's Silver Dollar Property (and Beatrice Property which is included within Silver Dollar but referenced separately in Origen's financial statements) and $66,893.60 will be spun out to Forty Pillars.
- The Arrangement, if completed, will result in, among other things, Origen being entitled to receive one common share of Forty Pillars in exchange for each five common shares of Origen outstanding on the effective date of the Arrangement.
- Forty Pillars intends to seek a listing of its common shares on the Canadian Securities Exchange ("CSE") following the completion of the Arrangement.
- The Silver Dollar property consists of 28 contiguous mineral claims covering 3,344.68 hectares of land and two Crown grants totalling 41.85 hectares of land.