Foremost Lithium Resource & Technology Ltd (TSE:FAT) has released an update.
Foremost Lithium Resource & Technology Ltd. has announced plans to separate its Winston Group of gold and silver properties by creating a new subsidiary, Rio Grande Resources Ltd., which will issue shares to existing Foremost shareholders. This strategic move aims to unlock the full value of the Winston Property, with potential benefits to shareholders as they gain stakes in two distinct projects amidst a strong precious metals market. The spin-out is contingent upon approvals and will be accompanied by a financing strategy for the new entity.
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