Brief: Columbus announces spin-out and Nevada drilling update

Orea Mining

21/07/2017 13:00

July 21 (Reuters) - Columbus Gold Corp  CGT.TO  
    * Columbus announces spin-out and Nevada drilling update 
    * Intends to spin-out its mineral projects in United States 
into a separate publicly traded company 
    * Spin-out mineral projects in United States into a separate 
publicly traded company to be named Allegiant Gold Ltd 
    * Intent of listing allegiant on TSX venture exchange 
    * Spin-out to be effected by way of a plan of arrangement; 
shareholders of co receive 1 share of allegiant for every 5 
shares of co 
    * Intention is for a private placement to be completed 
concurrently with plan of arrangement 
    * Notwithstanding receipt of all requisite approvals, 
directors of co reserve right to elect to not to proceed with 
plan of arrangement 
 
Source text for Eikon:  ID:nCCNK2sYDa  
Further company coverage:  CGT.TO  
 
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