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Josemaria Resources Completes Spin-Out of Properties to NGEx Minerals


On July 17, 2019, Josemaria Resources Inc. (formerly NGEx Resources Inc.) completed the spin-out of the Los Helados property and certain other exploration properties to its wholly-owned subsidiary, NGEx Minerals Ltd., by way of a plan of arrangement under the Canada Business Corporations Act. Josemaria distributed 100% of NGEx Minerals’ common shares it received under the arrangement to Josemaria shareholders on a pro rata basis.

Subsequent to the spin-out, NGEx Minerals began trading on the TSX Venture Exchange on August 20, 2019 under the ticker symbol “NGEX”.

Cassels acted for Josemaria with a deal team that included Jennifer Poirier and Aimee O’Donnell (Securities and Mining), Chris Norton (Tax), and Matthew Nied and Jared Enns (Litigation).

RELATED EXPERTISE: Securities | Mining | Taxation | Litigation