- Aurwest (AWR) clarifies spinout record date and distribution dates
- The companies subject to the spinout will have five newly formed reporting issuers that will be used to evaluate future go-public business opportunities
- Each shareholder of Aurwest as of the Record Date will receive 0.0051 shares of each of the five newly formed SpinCos
- The distribution date for the Stellar Stars SpinCo is conditional upon Stellar Stars SpinCo undertaking a private placement financing of a minimum of $1,000,000
- Aurwest shareholders, as of the Record Date, will receive 0.3 shares of a Stellar Stars SpinCo
- Aurwest Resources (AWR) is sitting at C$0.06 at 3:08 pm EST as of Sept, 21
As of September 23, Aurwest Resources (AWR) shareholders will be entitled to receive shares of six separate companies; over two share distribution dates.
The companies subject to the spinout will have five newly formed reporting issuers that will be used to evaluate future go-public business opportunities.
The distribution date for the SpinCos is expected to be on or about September 27, 2022, following the closing of the plan of arrangement.
Each shareholder of Aurwest as of the Record Date will receive 0.0051 shares of each of the five newly formed SpinCos for every common share of Aurwest.
Aurwest shareholders require no action in order to receive shares of the SpinCos, and Aurwest shareholders will retain their original Aurwest shares.
The distribution date for the Stellar Stars SpinCo is conditional upon Stellar Stars SpinCo undertaking a private placement financing of a minimum of $1,000,000.
Aurwest shareholders, as of the record date, will receive 0.3 shares of a Stellar Stars SpinCo.
The listing of Stellar Stars SpinCo is subject to meeting all the conditions for listing established by the CSE and acceptance by the CSE.
As always with situations like this, there is no assurance that Stellar Stars SpinCo will complete the Stellar Stars Financing within the time required under the Plan of Arrangement.
Aurwest is a Canadian-based junior resource company focused on acquiring, exploring, and developing gold properties in Canada.
Aurwest Resources (AWR) is sitting at C$0.06 at 3:08 pm EST.
