CanAlaska Uranium Ltd and Core Nickel Corp. announced the closing of their Spin Out Plan of Arrangement on June 26, 2020. This agreement provided CanAlaska shareholders with significant exposure to Core Nickel Corporation and the potential for significant returns from an exploration stage nickel company.
The Plan of Arrangement was first announced by the companies on April 15, 2020. The Plan was structured to benefit existing CanAlaska shareholders by providing them with an opportunity to invest in Core Nickel, while the two companies remain independent entities. Under the Plan, CanAlaska shareholders received one common share of Core Nickel for every ten CanAlaska common shares held.
With the Plan of Arrangement now completed, CanAlaska Uranium Ltd focuses on the exploration and development of its uranium projects located in the Athabasca Basin in Canada. CanAlaska also holds interests in other natural resources projects in Canada, including carbon dioxide storage and industrial minerals.
Meanwhile, Core Nickel Corp. looks to develop its 100% owned Hopes Advance Nickel/Cobalt Project, located in the highly prospective Thompson Nickel Belt of Northern Manitoba. Core Nickel believes the Project has the potential for a significant nickel resource and is exploring the possibility of near-term production.
Both companies believe that their Plan of Arrangement provides shareholders with more concentrated exposure to the resources sector, while allowing the companies to remain independent entities. CanAlaska Chairman Peter Dasler believes that the Plan will create value for both companies and their respective shareholders.
Dasler stated, “CanAlaska believes that it will create significant value for current shareholders of both companies and provide both entities with a complete and dedicated focus on their respective projects, management teams, and strategic direction.”
With the closing of their Plan of Arrangement, CanAlaska Uranium Ltd and Core Nickel Corp. have provided shareholders with the opportunity to have exposure to two unique exploration stage resource companies. It remains to be seen if their decisions will pay off in the long term, but for CanAlaska and Core Nickel, this is an exciting first step.
CanAlaska Uranium Ltd and Core Nickel Corp. announced the closing of their Spin Out Plan of Arrangement on June 26, 2020. This agreement provided CanAlaska shareholders with significant exposure to Core Nickel Corporation and the potential for significant returns from an exploration stage nickel company.
The Plan of Arrangement was first announced by the companies on April 15, 2020. The Plan was structured to benefit existing CanAlaska shareholders by providing them with an opportunity to invest in Core Nickel, while the two companies remain independent entities. Under the Plan, CanAlaska shareholders received one common share of Core Nickel for every ten CanAlaska common shares held.
With the Plan of Arrangement now completed, CanAlaska Uranium Ltd focuses on the exploration and development of its uranium projects located in the Athabasca Basin in Canada. CanAlaska also holds interests in other natural resources projects in Canada, including carbon dioxide storage and industrial minerals.
Meanwhile, Core Nickel Corp. looks to develop its 100% owned Hopes Advance Nickel/Cobalt Project, located in the highly prospective Thompson Nickel Belt of Northern Manitoba. Core Nickel believes the Project has the potential for a significant nickel resource and is exploring the possibility of near-term production.
Both companies believe that their Plan of Arrangement provides shareholders with more concentrated exposure to the resources sector, while allowing the companies to remain independent entities. CanAlaska Chairman Peter Dasler believes that the Plan will create value for both companies and their respective shareholders.
Dasler stated, “CanAlaska believes that it will create significant value for current shareholders of both companies and provide both entities with a complete and dedicated focus on their respective projects, management teams, and strategic direction.”
With the closing of their Plan of Arrangement, CanAlaska Uranium Ltd and Core Nickel Corp. have provided shareholders with the opportunity to have exposure to two unique exploration stage resource companies. It remains to be seen if their decisions will pay off in the long term, but for CanAlaska and Core Nickel, this is an exciting first step.
