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Element79 Gold Corp. ( (TSE:ELEM) ) has issued an announcement.
Element79 Gold Corp. has announced a proposed spin-out and merger involving its subsidiary, Synergy Metals Corp. The company plans to distribute a portion of its shares in Synergy to its shareholders and reduce its holding in Synergy to approximately 30.03%. Following the spin-out, Synergy intends to merge with 1425957 B.C. Ltd. through a three-cornered amalgamation, allowing Synergy to acquire all outstanding shares of 142. This strategic move is designed to optimize Element79’s assets and streamline operations, potentially enhancing market positioning and creating new opportunities for stakeholders.
More about Element79 Gold Corp.
Element79 Gold Corp. operates in the mining industry, with a primary focus on gold exploration and development. The company is actively engaged in acquiring and managing mining properties to expand its portfolio and enhance shareholder value.
YTD Price Performance: 0.0%
Average Trading Volume: 222,539
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$3.4M
For detailed information about ELEM stock, go to TipRanks’ Stock Analysis page.
