High Arctic Energy Services (TSE:HWO) has released an update.
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High Arctic Energy Services Inc. has received conditional approval from the TSX Venture Exchange for the listing of SpinCo shares, part of a strategic reorganization to split its North American and Papua New Guinea businesses. Shareholders of High Arctic will receive new shares in both SpinCo and High Arctic post-reorganization, in addition to a capital return distribution. Final approvals from the TSXV and TSX are pending for the completion of the arrangement.
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